AdmiralDAO is governed by SAIL token holders

Governance Process

AdmiralDAO is for builders. The DAO oversees a diverse group of custom-built DEXs, each tailored to specific types of traders and communities. DAO members can actively participate in governance through submitting and voting on AdmiralDAO Proposals ("APs") and ensuring their implementation.

1: Proposal & Discussion

(2 days)

Location: Off-chain on Clipper Discord governance-discussion channel

Proposals are publicized for community discussion and feedback. Authors should use this time to refine their AP before it moves to a community temperature check. The governance-discussion channel is a token-gated channel for SAIL holders. Anyone in the channel can post a proposal to the forum, however, proposal authors are required to hold at least 5,000 SAIL to submit a Snapshot proposal for an official vote.

2: Temperature Check Vote

(5 days)

Location: Off-chain on Clipper Discord governance-discussion channel

Community sentiment toward a proposal is gauged during a 5-day temperature check. A temperature check vote must have a minimum of 20 participants for the AP to pass this phase. If after 5 days the temperature check vote does not have 20 participants or has received 85% or more ‘Against’ votes, the AP fails. APs that fail the temperature check may be re-proposed after 14 days and must begin again with Phase 1.

3: Snapshot Vote

(5 days)

Location: On-chain on Snapshot

Proposals move on-chain after initial vetting phases.  In order to create a proposal on Snapshot, the author must hold at least 30,000 SAIL tokens in their wallet. The Snapshot voting period will last 5 days, unless otherwise specified. For an AP to pass and be officially actioned, both of the following conditions must be met: 
- A voting power quorum must be reached
- A simple majority (at least 51%) of the votes must be “Yes” votes 

Anyone holding SAIL tokens may vote on APs on Snapshot.

4: Waiting Period

(3 days)

A security waiting period of 3 days shall commence before any successful AP goes into effect. APs will be checked for any violation of cool-off periods or unwarranted bypassing of the off-chain phases.

5: Implementation

(3 days)

After the waiting period, the Operators of the DAO will action the AP or determine the prioritization of the necessary actions in the DAOs backlog/roadmap. Roadmap items will be discussed publicly in Discord. Implementation timelines will be determined on a case-by-case basis.

On-Chain Voting

Anyone holding SAIL tokens may vote on APs on Snapshot.

The voting strategy used is quadratic voting. This means that voting power is assigned based on the square root of the number of tokens held in the voter's wallet. E.g., if a voter is holding 100 SAIL tokens, their voting power will be 10 votes.

The quadratic voting model is an alternative to the 1 token = 1 vote model and aims to even the distribution of voting power by reducing the influence of whales in decision-making.

Utility and Usage

What SAIL Powers

Direct your share of protocol rewards

Allocate liquidity mining revenue

Launch impactful protocols across web3