Kernel is a Decentralized Autonomous Organization (DAO) that is governed by KERNEL token holders. Kernel governance allows the community to propose, vote, and implement changes to the protocol. Members propose, discuss, vote on, and implement changes, decreasing the reliance on any centralized individual or team.
A proposal must follow the guidelines outlined here. These guidelines may be updated over time as governance may choose to adjust them. Proposals can be created and submitted for on-chain voting. Though not mandatory, it is highly recommended that a discussion post is created prior to the proposal being submitted on chain.
Here is an in-depth explanation of the whole governance mechanism:
1. Discussion at Kernel DAO Governance Forum
The first step in the governance process is the discussion phase. The discussion phase is open to anyone and can be found at this website, https://forum.kerneldao.com/
This phase serves as the foundation for informed decision-making, allowing community members to propose ideas, debate their merits, and refine proposals before they move to a formal voting stage. The discussion phase typically unfolds in the following way:
1.1. Idea generation: Community members brainstorm and develop ideas that could improve Kernel.
1.2 Initial submission: An initial proposal is shared on the forum following the guidelines outlined here.
1.3. Community engagement: Once a proposal is submitted, it is open for discussion. All token holders and stakeholders are encouraged to participate.
1.4. Feedback and debate: Community members provide feedback, ask questions, and debate the merits of the proposal. This open dialogue helps identify strengths and weaknesses, allowing for a thorough evaluation.
1.5. Revisions: Based on the feedback received, the proposal’s author can make revisions to address concerns and clarify certain points.
1.6. Readiness check: The final draft undergoes a readiness check to ensure it meets all necessary criteria and guidelines for moving to the voting phase.
1.7. The discussion phase will last at least 3 days.
2. Voting at Snapshot Platform
The second step in the governance process is the voting phase. The voting phase is open to any KERNEL token holder via Snapshot voting platform.
This phase follows the discussion phase and ensures that decisions reflect the collective will of the community. The following is a general overview of the voting process:
2.1. Final proposal submission: After a proposal has been refined and finalized during the discussion phase, it is officially submitted for voting. The final draft is made available for review by all voting members on Kernel on Snapshot voting page. 250,000 $KERNEL are needed to submit the proposal. Those not having enough $KERNEL need to seek support from Kernel DAO Delegates* that can post on behalf of them. The voting period is 5 days.
2.2. Voting eligibility: Only eligible KERNEL token holders can participate in the vote.
2.3. Casting votes: Token holders cast their votes using their KERNEL token holdings. Votes are weighted on a linear basis based on the number of tokens held.
2.4. Quorum requirements: Kernel has a quorum requirement, which is the minimum amount of votes required to successfully pass a vote proposal. Upon the initial release of governance, the quorum will be 5M KERNEL tokens (~5% of initial circulating supply). This will be revised later on to 10 M $KERNEL (1% of the Total Supply).
2.5. Majority threshold: Upon the initial release of governance, proposals require a majority of >50% to pass.
2.6. Result announcement: Once the voting period ends, the results are announced.
3. Implementation
3.1. Implementation: Kernel DAO Core Team implements the proposal (off-chain or on-chain, whatever applies).
3.2. Announcement and Closure: Kernel DAO Core Team informs of the timelines on the original Governance Forum post.