Proposal: Plutus Upgrade
As you may know, we have had issues achieving the required quorum to perform the required protocol update to support v2 of Pancakeswap Liquidity Pools. As a result, the DAO Technology Team has decided to create a proposal that will temporarily transfer the governance contract ownership to a multi-signature address controlled by Richard, Luis, and Enrique; all members of Kindynos and the DAO Technology Team.
Proposal Effects on the Protocol
With the ownership, we will
- Instantly upgrade the reward contract to support the required pools and
- lower the Plutus quorum requirements from 35% to 15% of the Staked Polis (DRACHMA) Supply, through the redeployment of the Plutus Governance Smart Contract.
After this is achieved, the team will once again transfer the ownership of the contract to the community. With the new 15% Plutus quorum threshold that will allow implementing protocol changes in the future.
Why is it necessary to transfer the contract ownership to the developers?
This measure is recommended as it will be hard to achieve the required quorum to perform upgrades twice, and there are also timing constraints, and protocol limitations to one active proposal per account.
Simply put, supporting v2 Liquidity Pools is urgent for the project and needs to be performed as soon as possible, and it cannot be delayed until the governance smart contract gets redeployed to reduce the required quorum.
This temporal power allows for a quick reaction and prepares the protocol to be more agile in future votings.
As a further benefit, voting for a single proposal will make users save the transaction fees in BNB required for voting.
How can I help?
If you are staking, and have registered for voting, make sure you vote for the proposal once it goes live.
If you are staking, but not registered or do not want to vote yourself on all proposals, consider delegating your voting power to the DAO or other trusted community members.
All guides regarding the governance can be found here.
DAO Technology Manager