Covalent Community Call # 3 ( Proposal Tutorial)

Covalent Improvement Proposal Template

When submitting a proposal, please refer to the template outlined below.

Proposals could include but are not limited to:

  • Indexing a blockchain
  • Adding a specific protocol endpoint
  • Research ideas for Alpha Alarm
  • Suggestions to the Alchemist Program
  • Participating in different farming/staking programs
  • Developer adoption and marketing initiatives, such as running hackathons and localization of content

Proposals that will not get accepted:

  • Listing on exchanges
  • Token burning
  • Anything that could cause others harm/ and that is illegal

Governance Forum Template

The proposal you are submitting should include the following:

  • A concise title
  • Author(s) (Twitter IDs)
  • Background (Tell us about yourself and your interests in writing the proposal)
  • Date
  • Summary (A synopsis of the item for the Covalent Network to consider)
  • Mission and Value Alignment (The expected benefit to the Network)
  • Financial Implication (The expected cost to the Network or resources that may be required)
  • Poll (Using the Discourse poll feature)

What next?

  • It is encouraged that you first share your proposal on the #governance channel on Discord.
  • Proposals will be assessed internally and the outcomes will be discussed on the community call.
  • Once the proposal reaches consensus, the proposer will be able to add the proposal for Snapshot voting
  • The Covalent team will share the proposal with the community for a time-bound Snapshot voting
  • Single choice voting: If an option gets 51% and above votes, the proposal is passed. If it remains 50:50, then the final round of voting goes to our advisors.
  • Multiple choice voting: We will look at the majority of the votes between the choices and pass the vote (Ensure that the options you define encapsulate all viable courses of action)

In the future, we intend to have protocol stewards who will help steer the governance process and voting for the network.

Considerations for choosing a blockchain

  • Is it EVM compatible?
  • Does it have meaningful traction (At least 10 DApps with ~1M TVL)
  • Are there grants available?
  • Do current Covalent customers want to migrate to this blockchain (one of the top wallet apps on Ethereum is extending its support to Arbitrum)
  • Is the protocol/foundation willing to work with us (value alignment)
  • Is there a professional node hosting solution like Infura, Chainstack, Ankr that supports a blockchain