Abstract
Defining the Initial Governance Process for the WalletConnect Ecosystem
Summary
To ensure efficient decision-making and transparency while progressing towards decentralization, this proposal outlines the governance process (P0) that will be followed during the early stages of WalletConnect governance. Additionally, it introduces a structured format for all proposals, ensuring consistency and clarity across governance discussions.
Background
As the WalletConnect Foundation establishes its governance process, there is a need for a structured approach to reviewing and implementing community-driven proposals. This initial governance process is designed to balance the Foundation’s role in guiding network development with the community’s participation in shaping its future. While the Foundation will make final decisions during this phase, this framework will evolve based on community input and ecosystem maturity.
Proposal
Foundation’s Role
During this initial governance phase, the WalletConnect Foundation will:
- Review and evaluate community proposals.
- Guide network development priorities.
- Ensure alignment with WalletConnect’s mission and vision.
- Facilitate community discussions.
- Implement approved changes.
Governance Process (P0)
- Proposal Submission
- All proposals must be submitted through the governance forum.
- Proposals must follow the standardized format outlined below.
- Proposals should include clear implementation details and address specific network needs or improvements.
- Foundation Review
- The Foundation will evaluate proposals based on:
- Alignment with network priorities.
- Technical feasibility.
- Security considerations.
- Resource requirements.
- Community benefit.
- Community Discussion
- Proposals will undergo a minimum 3-day discussion period.
- The Foundation will actively participate in discussions.
- Community feedback will be gathered and documented.
- Proposals may be refined based on feedback before proceeding to the next step.
- Implementation Decision
- The Foundation will make final decisions on proposal implementation.
- All decisions will be communicated transparently.
- An implementation timeline will be provided.
- Regular status updates will be shared.
Path to Decentralization
This initial process serves as a foundation for future governance improvement and its goal is to:
- Establish a functional governance process.
- Engage and involve the community in decision-making.
- Test and refine governance mechanisms.
- Gather insights for more decentralized iterations.
The WalletConnect Foundation will propose future governance improvements based on:
- Community feedback.
- Operational learnings.
- Network needs.
- Ecosystem maturity.
Standardized Proposal Structure
To ensure consistency and clarity, all future governance proposals must follow this structure:
- Abstract - One-line description of the proposal.
- Summary - Brief explanation of the proposal.
- Background - Important context for the proposal.
- Proposal - Detailed specification of the proposal.
- Call to Action - Action items or requests before voting.
- Next Steps - Action items or requests after approval.
- References - Links or documents relevant to the proposal.
Call to Action
We invite the community to review and discuss this proposal. Feedback is encouraged, as this governance process will be the foundation for WalletConnect’s decentralized governance evolution.
Next Steps
This proposal will establish the governance process (P0) and enforce the standardized proposal structure. Future proposals will be required to adhere to this format. Additionally, the Foundation will continue refining governance mechanisms towards increased decentralization.
References
- Snapshot vote: https://vote.walletconnect.network
- Governance forum: https://governance.walletconnect.network
