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Proposals

  • Proposals require the input of a title, description, the contract address of the token being used for a purchase and the contract address of the token being purchased.
  • Pōwehi cannot create a new proposal if already involved in an active proposal as the creator or one of the other multisigs.
  • Proposals are open to voting for 87 hours before a conclusion is reached, executing in favor of the majority vote (successful proposal or a failed proposal).
  • When a proposal fails, its details will be added to a list of failed proposals.
  • When a proposal succeeds, its details will be added to a list of succeeded proposals.
  • When a proposal succeeds, an immutable smart contract will take the specified funds from the treasury and spend them on the tokens listed in the details of the proposal.
  • A queued proposal cannot become an active proposal if the quantity of the funds in the treasury could potentially conflict with an existing active proposal's required funds.
There are three different types of proposals that can be created:

Classic Proposal:

  • Pōwehi are able to create a Classic proposal, which requires two other Pōwehi to approve the proposal before it is initialized (3 person multi-sig); if initialized, it will be added to a queue.
  • If the proposal is next in line in the queue & there is 8.7 ETH in the treasury to suffice for the proposal, it will become an active proposal that can be voted on by the Halo.

Double Down Proposal:

  • Pōwehi are able to create a Double Down proposal, which requires four other Pōwehi to approve the proposal before it is initialized (5 person multi-sig); if initialized, it will be added to a queue.
  • If the proposal is next in line in the queue & there is 17.4 ETH in the treasury to suffice for the proposal, it will become an active proposal that can be voted on by the Halo.

Cash Out Proposal:

  • A Cash Out proposal is a unique proposal in which the Halo can vote to sell the entire remaining balance of a previously purchased token back into ETH.
  • Pōwehi are able to create a Cash Out proposal, which requires two other Pōwehi to approve the proposal before it is initialized (3 person multi-sig); if initialized, it will become an active proposal that can be voted on by the Halo (as there is no need for a queue in this case).