Participate in governance
Learn where to discuss potential changes to Balanced, how to vote on the changes proposed, and submit a proposal of your own.
bBALN holders have the power to vote on changes to Balanced, and decide where money is spent. To participate in discussions about the future of Balanced, go to gov.balanced.network.
To view all proposals submitted on Balanced, go to the Vote page.
Click a proposal to view a short summary of the changes, then review the forum discussion to gain a full understanding of the changes.
If the voting period is active, you can vote:
- 1.Sign in with a wallet that has bBALN.
- 2.Choose to approve or reject the proposal, then confirm the transaction.
The voting period can be anywhere from 1 to 14 days. Your voting weight is based on the amount of bBALN you held when the vote began.
For a proposal to be approved, at least 20% of the total bBALN needs to participate in the vote, and 66.67% need to be in favour.
If you want to make changes to Balanced, start a discussion on the forum to validate your idea, then submit a proposal for bBALN holders to vote on.
To submit a proposal, you'll need to pay a fee of 100 bnUSD, and have at least 0.1% of the total bBALN in your wallet. If the proposal is approved, the fee will be refunded.
If you have an idea for a proposal:
- 2.Receive feedback from the community and adjust your proposal if necessary.
- 3.Submit your final proposal under the 'BIPs' (Balanced improvement proposals) or ‘DAO Fund proposals’ category.
Go to the Vote page on Balanced and click ’New proposal’. Then choose a proposal type:
- Text. Suggest features the team should implement, DAO Fund expenditure, and other initiatives that don't require or aren't supported by direct protocol changes.
- New collateral type. Allow a new cryptoasset to be used as collateral for Balanced Dollars.
- BALN allocation. Adjust the distribution ratio of Balance Tokens.
- Network fee allocation. Adjust the ratio of fees paid to BALN holders and the DAO Fund.
- Loan fee. Adjust the fee borrowers pay when they mint Balanced Dollars.
- Loan to value ratio. Adjust the amount people can borrow against their collateral.
- Funding. Request funding from the DAO Fund to pay for one-off expenses that benefit Balanced.
- 1.Enter a title of up to 100 characters. It should lead with the BIP or DFP, and be as clear and concise as possible (e.g.
BIP3: Increase origination fee to 1.15%).
- 3.Choose a vote duration from 1-14 days. 5 days is standard, but 1 day is suitable for urgent changes, while 14 is best for proposals seeking maximum engagement.
- 4.Add a summary of up to 500 characters to the Description field. Note that line breaks, lists, or other formatting will be ignored.
- 5.For non-text proposals, enter your proposed changes.
- 6.Click Submit, then pay 100 bnUSD to complete the transaction.
Your proposal will be added to the Vote page, and voting will begin after the next daily snapshot (6pm UTC).