The proposal, which aims to restructure Balancer DAO's governance process and increase decentralization, was passed on Monday night.
Balancer DAO is set to roll out some changes to its governance process. The BIP-163 received a nod from the community after nearly 100% of the voters endorsed the initiative. The two-fold proposal seeks to increase decentralization within the Balancer ecosystem, as well as create more separation of concern between the governance decision-making process and the risk-aware implementation of proposals.
Moving forward, Balancer DAO will dissolve the Governance Council and allow any address with over 200,000 veBAL in delegation to post a Snapshot. According to the proposal, the Governance Process Revamp 2.0 gave the council too much power vs veBAL Voters. As a result, there have been some murmurings about the Gov Council using its power to influence the outcome of a governance process.
In an effort to further decentralize, and with significant precedent for “well-defined” in place, it is unclear why a specific council is required to assert these things before bringing an item to snapshot.
The proposal also outlines the requirements and implementation processes for upcoming proposals. For a proposal to go to Snapshot, it must include a motivation section, an English specification that clearly states how an implementation could affect the operations of the protocol or treasury, a multisig transaction payload, and a risks section.
BIP-163 specifies that the Balancer Maxis will be responsible for executing a proposal approved by governance.
The Balancer Maxis will make every effort to confirm that the payload and the English definitions match, load the specified payloads into the appropriate multisig, and coordinate with signers for execution […] The Maxis will comment on the forum post for the proposal and include a link to any transactions relevant to execution at the bottom of the body.
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