Snapshot configuration & membership
Snapshot configuration
Strategies configuration for multi-stakeholder voting
Strategies:
We use three separate strategies so users can see in the UI what their voting weight is for each gov. group: Builders, Pods, and Token holders.
MGV token with delegation and including vested, claimable tokens
At the outer level, we use the with-delegation strategy to allow delegation.
Inside that we use erc20-balance-of for owned MGV tokens and dss-vest-unpaid for vested but unpaid MGV tokens
Symbol: MGV
Builders Group Activity Score with delegation, quadratic-voting, and scaled to the circulating supply of MGV tokens
At the outer level, we use the with-delegation strategy to allow delegation.
Inside that we use the mangrove-station-qv-scaled-to-mgv which is built exactly for this
Symbol: vMGV-B
Rationale: reusing the symbol of the membership, adding "v" to signal that it's a voting token attached to the group, but not the same object.
Pods Group Activity Score with delegation, quadratic-voting, and scaled to the circulating supply of MGV tokens
At the outer level, we use the with-delegation strategy to allow delegation.
Inside that we use the mangrove-station-qv-scaled-to-mgv which is built exactly for this
Symbol: vMGV-P
Rationale: reusing the symbol of the membership, adding "v" to signal that it's a voting token attached to the group, but not the same object.
Proposal configuration
Validation strategies:
We use basic validation with a minimum score: Members with a voting power corresponding to more than 0.1% of the circulating supply can make proposals
Snapshot requires an absolute number, so we calculated what 0.1% corresponds to as of 2024-01-08:
Circulating supply: 137,392,418.57352012 MGV
0.1% of circulating supply: 137,392
Voting configuration
Quorum:
We’d like to set the quorum to 15% of the total voting power. However, Snapshot requires an absolute number, so we’ve calculated what 15% corresponds to as of 2024-01-08:
Circulating supply: 137,392,418.57352012 MGV
Total voting power: 3 * circulating supply = 412,177,255.72056036
15% of total voting power: 61,826,588
Delegation
The Delegation section is left unconfigured which (unintuitively) means that we use Snapshot’s built-in delegation system.
Membership
Membership of a governance group/Council is represented by ownership of an NFT (ERC-721). There is an NFT collection for each of the governance groups.
Each membership NFT controls a TBA (ERC-6551) and that TBA in turn is given tokens to represent the member’s attributes, such as their Activity Score (ERC-20, only relevant for Builders and Pods).
As we’d like members to be able to keep their membership NFTs after they leave Mangrove (it’s a nice memorabilia to have 🙂) we model active membership by giving the TBA an “Active Badge” token in a multi-token (ERC-1155) contract; When a member leaves a group, the active badge is burned.
The following diagram illustrates the setup:
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