How to launch a BIP vote with Bancor Governance

This guide outlines a simple process for keeping the Bancor community and core development team in sync as new BIPs are launched.

Step 1: Initial discussion — Begin an initial discussion on your proposal in the #gov-general Discord channel.

Explain your initiative, rally the community and get into detail about what needs to be done.

Step 2: After gathering community feedback, create an initial draft of your BIP on gov.bancor.network based on the criteria and format outlined in BIP3: “i) BIP Documentation Requirements”.

Step 3: Once your initial BIP draft is live on gov.bancor.network, present it to the Bancor community on Discord in #gov-general. Then ping @Mods requesting a new BIP channel be created for focused discussion on the proposal.

… continue discussion from the BIP’s designated channel.

Step 4: Once community discussion on the BIP has concluded and any needed changes to the proposal have been implemented, send the final BIP draft to the #bip-buffer channel declaring your are ready to push a vote on-chain.

  • Tag @CoreDevTeam and any other collaborators to make sure all technical considerations of the BIP have been accounted for.
  • Once all parties have confirmed, create a new on-chain proposal for your BIP.

Step 5: Create a “new proposal” on vote.bancor.network

  • 25,000 vBNT is required to initiate a new proposal.
  • See the v2.1 staking guide to learn how to stake, generate vBNT, vote and initiate proposals.
  • Proposal creation is covered in Step #6.
  • Once live, voting will last for 3 days.
  • 20% quorum with a 2/3rds majority (66.7%) is required for a standard BIP to pass.

That’s it!

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