Dear Linear Community,
As you all know, the Linear Finance team always aimed to decentralize the protocol and make it community-driven. As such, we are happy to announce that the Linear DAO Forum is now live and will host the first Linear Council Candidate Nominations.
Linear DAO Forum
The Linear DAO forum is the place where our community will propose and discuss new features and improvements they would like to see implemented on Linear Finance. The forum will run on Discourse, an open-source discussion platform.
Linear Preliminary Improvement Proposition (ℓPIP) & Preliminary Listing Propositions (ℓPLP)
- ℓPIPs/ℓPLPs are facilitated via forum discussions and will serve the purpose of gauging the sentiment of a proposed change using the Linear community as a sounding board
- They will determine consensus that change is required and or should be implemented via discussion
- Community feedback and engagement are essential to developing a successful Proposition
Proposition Status (ℓIP & ℓLP)
The Linear DAO Forum will have a specific category where proposition (ℓIPs & ℓLPs) status updates will be posted. A proposition can fall within the following categories:
- Proposed — A proposition (ℓIP or ℓLP) that has been created and is currently up for voting on the Linear DAO Snapshot falls under the Proposed category
- Approved — A ℓIP or ℓLP that achieves a minimum voting quorum of 5% and a majority of ‘Yes’ votes (>50%) after the voting period is concluded will be deemed Approved
- Implemented — After an ℓIP or ℓLP is up and running on the Linear Finance protocol it will be considered Implemented
- Rejected — A proposition will be considered Rejected if any of the following occurs:
- Does not reach the minimum voting quorum
- Fails to achieve the majority of ‘Yes’ votes
- It is considered not feasible by the pDAO/LC
- It goes against the overall benefit of the protocol by the pDAO/LC
Visit the Linear DAO Forum now at:
Linear Council Applications Open
In addition to the Linear DAO Forum going live, we would also like to inform our community that nominations for the Linear Council are open from now until 12 AM UTC, October 27th!
Linear Council Candidate Nomination
To nominate someone (or yourself) to be a part of the LC all you need to do is go to the Linear DAO Forum and create a new topic on the Linear Council Candidate Nomination category. The community will be required to follow the guidelines set by the pDAO and specified in last week’s Medium post on the Linear Council Election Process.
By the end of the nomination period, a “ℓIP: Linear Council Election” will be created on Snapshot by the pDAO to gather the top nominations from the forum (by topic likes) as voting choices for the community.
Visit the Linear Council Candidate Nominations at: https://forum.linear.finance/c/linear-council-candidate-nomination/9
We want to thank everyone in the Linear community for accompanying us in this journey towards decentralization, we are almost there! Next week we will take a deeper dive into the Linear DAO Voting Process on Snapshot, stay tuned!
About Linear Finance
Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol that allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage.