IIP-25

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Simple Summary

Make changes to voting and council pay ahead of the next epoch, implementing changes suggested by the Illuvium CFO and key election feedback from the community. Governance v2 is very close to being presented to the community recommending a number of significant and more complex improvements. These two changes add value to the DAO immediately and their adoption is recommended prior to the full discussion of broader governance improvements.

Abstract

We’ve changed this a few times now and hopefully won't need to again for the foreseeable future. With guidance from the CFO, it's the opinion that we should preserve stable coin runway where possible. Council payments thus being made in $ILV will aid in optimising stable coin utilisation. Furthermore, the community has made it clear several times that they want to implement a blind voting system through Snapshot to ensure the voting process is as fair as possible.

Overview

Change Council Pay

• 5000$ USD per month paid in $ILV.
• Price of $ILV would be determined as an average of the payment cycle, utilising the market price at 11:59 PM UTC on the last calendar day of the month.
• For Example: End of Month 1 ending price 60$, End of Month 2 ending price 50$, End of Month 3 price 55$. The payment of ILV would be 55 per $ILV.
• Councils are paid every 3 months, 2 times per 6 month Epoch, once during the week following 3-months of service, and once in the week following the completion of the epoch. This is financially identical to the current system. This proposal clarifies the determination of ILV price while also enabling the preservation of stable coin at the recommendation of the Illuvium CFO.

Change to Blind Voting System

• Implement Snapshots Blind Voting aka Shutter:
• • https://snapshot.mirror.xyz/yGz91njKbw-sXsnAT6RkoMzPwvuddZritz37h1OWO8o
• All other voting processes would stay the same.

Test Cases

N/A.