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Overview

All Flower protocol contracts and external contracts are governed by the Flower DAO which is governed by the FLOWER token holders.

Flower DAO Governance Overview

Onchain Governance Structure and Process​

FLOWER​

Flower is the ERC20 governance token which entitles holders to voting rights on Flower DAO proposals. It is based on the ERC20 implementation from OpenZeppelin using the ERC20Votes extension.

Delegation​

Token holders can delegate their voting rights to other addresses to not have to actively vote themselves but rather have their delegate vote on their behalf.

Aragon​

Flower DAO uses Aragon's OSx which is a flexible modular framework for building DAOs and governance systems.

Aragon's OSx allows you to create stage based governance proposal flows where each stage has its own requirements that need to be met to be able to progress to the next stage and eventually execution of the proposal.

Aragon OSx allows the Flower DAO to adapt and evolve over time as needed, new proposal flows can be added or existing ones can be modified by the DAO itself. Any governance structure change has to be approved by the DAO in its current state.

Initial Governance flow​

At its current state the Flower DAO has a single proposal flow, visualized in the overview image above.

The parties in this flow are:

  • Delegates Delegates with more than 0.5% of the token supply delegated to them can submit proposals. Any delegate is able to participate in the voting stage.
  • Veto Multisig A multisig composed of Flower core team members, the Hanami Foundation and industry veterans. The veto multisig can cancel proposals during any stage to prevent malicious or otherwise harmful proposals from being executed.

Stage 1 - Propose​

In this stage delegates which have more than 0.5% of the token supply delegated to them can submit proposals, after a 24 hour waiting period in which the veto multisig can cancel the proposal it is then possible to progress to the next stage.

Stage 2 - Vote​

In this stage the proposal is open for voting. The voting duration is 5 days and can be extended by 24 hours in case quorum is reached 24 hours before the end of the voting period. During the entirety of the voting period the proposal can be vetoed by the veto multisig. If the proposal ends in a positive outcome by a majority of the votes and quorum is reached the proposal is moved to the next stage.

Stage 3 - Veto​

Voting is finalised and now the 24 hour timelock is activated. If the proposal is not vetoed by the veto multisig during this period it can be executed.

Execution​

After all stages have succesfully passed the proposal can be executed by anyone onchain.