Welcome to the Web3 world, where digital finance and applications are shown in a revolutionary way through the fusion of blockchain technology, cryptocurrencies, and a pioneering spirit. Are you overwhelmed by the wealth of terms in the Web3 world that you don’t understand? Are those slang barriers preventing you from learning about Web3? Don’t worry! We’re here to explain the obscure terms to guide your learning. Today, we're diving into an essential concept in the world of Web3: [Open Campus Proposal (OCP)].
What is an Open Campus Proposal (OCP)
The Open Campus Proposal (OCP) is a crucial element of the Open Campus DAO governance process, enabling tokenholders to actively participate in the decision-making and future direction of the Open Campus ecosystem. This blog will provide a comprehensive guide to understanding OCP, including the submission process, proposal structure, voting mechanisms, and key entities involved.
Source: Open Campus DAO Governance
Overview of the OCP Process
The OCP process in the Open Campus DAO is designed to be inclusive, transparent, and democratic. It allows EDU token holders to propose new initiatives, projects, or changes to the governance process. Here’s an overview of the key steps involved:
1.Ideation: Proposals start as ideas submitted by any EDU tokenholder. These proposals are reviewed by an Administrator appointed by the Council. If the proposal aligns with the DAO’s mission and objectives, it proceeds to the next stage. If not, the author can revise and resubmit the proposal.
2.Comment Period: Approved proposals are published on Discourse for a 7-day comment period. During this time, tokenholders can review, discuss, and provide feedback on the proposals.
3.Council Review: After the comment period, the Council reviews the proposal to ensure it doesn’t conflict with any laws, regulations, or the DAO’s mission. If the Council deems the proposal fit, it moves to the voting stage.
4.Voting Period: The proposal is then published on Snapshot for a 7-day voting period. EDU token holders vote on the proposal, and if it receives a majority of votes in favor, it moves to the implementation phase.
5.In Process: Approved proposals that are being implemented are tagged as "in process." The Council provides periodic updates to the community on the progress of these proposals.
6.Completed: Once fully implemented, proposals are tagged as "completed."
7.Archived Proposals: Proposals that don’t meet the voting threshold or are rejected are archived for historical purposes.
To maintain clarity and structure throughout the proposal process, each OCP must follow a specific format:
●Title: A clear and concise title for the proposal.
●Preamble: Includes the author’s name, status, and the date the proposal was created.
●Abstract: A detailed summary of the proposal.
●Motivation: The reason behind the proposal and the problem it aims to solve.
●Goal for Proposal: The objectives the proposal aims to achieve.
●Specification: Technical details, if applicable.
●Proposed Budget: Anticipated costs and any relevant financial forecasts.
●Benefits: The positive impact and advantages of the proposal.
●Risks & Drawbacks: Potential risks and any negative consequences.
Handling Proposal Conflicts
To avoid conflicts between proposals, the Council may withhold a new proposal that contradicts one currently under consideration until a decision is made on the first proposal. If a proposal directly conflicts with an approved proposal, it will not be put forward for a vote for three months post-implementation to prevent unnecessary expenditure of community resources.
Submission Eligibility and Approval Process
●Who Can Submit a Proposal? Any EDU tokenholder with at least 1 EDU can submit a proposal on Snapshot. Verification requires EDU to be held in supported on-chain wallets like MetaMask, WalletConnect, and others. ●How Does a Proposal Get Approved? A proposal is approved if it achieves at least a simple majority of EDU tokens cast during the Voting Period. Otherwise, it fails.
●Posting Proposals: Administrators post proposals on Snapshot after ensuring they have followed the correct process.
●Voting Duration: The voting period lasts for 7 days, during which tokenholders can cast their votes.
●Voting Options: Tokenholders can vote “In favor” or “Against” the proposal. A majority “In favor” vote moves the proposal to the implementation phase. Rejected proposals can be revised and resubmitted.
Key Entities and Terminology in OCP
●Open Campus Proposal (OCP): A document proposing new projects, initiatives, or governance changes.
●OCP Author: The EDU tokenholder responsible for initiating the OCP and incorporating community feedback.
●Open Campus DAO: The decentralized autonomous organization supporting the growth of the EDU ecosystem.
●EDU Foundation: The legal entity administering the DAO’s decisions.
●Council: A group of members selected for their industry experience and contributions to the protocol, responsible for reviewing proposals and ensuring they align with the DAO’s mission.
Categories and States of OCP
●Product: Proposals for developing new products or enhancing existing ones.
●Branding/Marketing: Proposals for marketing activities relevant to the Open Campus brand.
●Process: Proposals for changes to governance processes.
●Global Educators Fund: Proposals for disbursing grants to educators.
●Partnership: Proposals for partnerships with other brands and partners.
●Investment: Proposals on investments by the Open Campus Treasury.
●Council Election: Proposals for electing or changing Council members.
States of OCP on Discourse:
●Ideation: Initial step of creating an official OCP, published on Discourse for community comments.
●Council Review: Council consideration for tokenholder voting.
●Voting: Proposals presented for tokenholder vote on Snapshot.
●In Process: Proposals approved and being implemented.
●Rejected: Proposals not approved at any stage.
●Resubmitted: Revised proposals after initial rejection.
Council Selection and Roles
●Council Selection: The inaugural Council members are selected based on industry experience and contributions. After the initial term, DAO members vote annually to retain or appoint new Council members. EDU tokenholders can replace Council members via approved proposals.
●Role of the Foundation and Council: The Foundation and Council handle day-to-day administration but do not control decision-making. The community and EDU tokenholders govern the DAO by submitting and voting on proposals.
The Open Campus Proposal process is a vital component of the Open Campus DAO, empowering the community to actively participate in shaping the future of the ecosystem. By understanding the submission process, proposal structure, and voting mechanisms, EDU token holders can effectively contribute to the growth and governance of the Open Campus Protocol.
If you wish to learn more about terms like the Open Campus Proposal, explore more in our HackQuest Web3 Glossary!
