This is a preliminary setup for how governance will be organized and structured; this process should be reviewed and updated by the community as needed.
Engage with the Community
Token holders are encouraged to engage with the community. the largest number of Instadapp user can be found on Discord. The more engaged the community is around your proposal the more likely it is to succeed!
Submit a Snapshot Signal
A signal is a way to check user engagement, and receive response and feedback from the community. Use this to gauge how your idea or submit a more formal presentation.
There are different types of changes that the community may vote on; for proposals that require upgrade/changes or other implementation at the contract level; those changes need to be submitted to the active team for review. The development team will review the code or develop the code for the proposed changes.
Submit the proposal
Once the proposal has been completed it is submitted as an Instadapp Governance Proposal and submitted for community to vote on.
Governance Execution (Implementing Changes)
The INST token contract utilized the COMP token contract as a base contract. The INST contracts currently follow the 3-Day voting/2-Day time-lock functionality but this can be adjusted by the community. The INST contracts utilize proxy-contracts to upgrade the DeFi Smart Layer contracts.