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.
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 funding 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.
- Rebalancing threshold. Adjust how tightly we should keep Balanced Dollars pegged to $1, up to a max of 10% (the smaller the threshold, the tighter the peg).
- 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).