The $STRDY airdrop initiated the launch of Sturdy DAO; earlier this month, token holders voted on SIP:001 to launch an innovative liquidity mining program of the $STRDY token.
Today, we’re walking through how to create your own governance proposal!
Sturdy enables DeFi’s best-yield farmers to lever up their yields while providing some of the best lending rates in the industry through its innovative positive-sum mechanics. The platform offers the ability to lever up stablecoin LP tokens against stablecoins and LSD LPs against ETH, typically at 0% cost, so borrowers can take on leverage to boost their yield without worrying about liquidation.
After a year of establishing product-market fit, Sturdy is sticking to the crypto ethos it was founded upon by turning control of the platform over to token holders! Via the Sturdy DAO, $STRDY token holders will pave the future of Sturdy through governance proposals. Sturdy DAO members with over 1,000 $STRDY can now submit Sturdy Improvement Proposals to help shape the platform's future!
Here’s a quick 3-step guide to submitting your own SIP:
1) Community Discussion
Before creating a governance proposal, fielding the idea to the community is important. The Sturdy Forums is a great place to explore potential proposals and bounce ideas off other DAO members. The forum lets you answer questions and incorporate feedback while forming your proposal. This is a great way to play with ideas before getting into the nuts and bolts; there’s no need for formal structure at this stage. Once your idea starts to form, and you’ve found some support within the community, it’s time to add a little structure and send it into the proposal section of the Forum.
2) Post In Proposal Section Of The Forum
The proposal section of the Sturdy governance forum is for more flushed-out ideas. At this stage, your proposal should be specific and structured; you should know exactly what you’re trying to do and how to best go about it. The proposal section of the governance forum grants the community the ability to weigh in on the proposal and share their thoughts/feedback before it goes to a vote. This can be a great time to adjust any details you may have overlooked and incorporate new community feedback. Once your proposal holds up against the community's scrutiny, you’re ready to take it to a vote!
3) Create a Formal Proposal
Now it’s time to create a formal proposal on Snapshot. This stage requires the submitter to hold at least 1,000 $STRDY to keep the platform from getting flooded with spam proposals. Just click new proposal and fill in all the details to submit your proposal to the DAO; you should add a link to the discussion from the proposal section of the governance forum to allow voters to view the discussions surrounding the proposal easily. Each voting period lasts 48 hours, and a proposal must receive a quorum of 100,000 votes to be ratified. Should your proposal pass, the plan will be implemented shortly thereafter, barring any technical developments required to make it go live.
That’s it! Just a simple three-step process to turn your idea into an implemented proposal that will shape the future of Sturdy.
SIPs dictate how the Sturdy platform proceeds and grows in the future. Proposals can include integrating new assets, altering liquidity mining practices, calling for new features or structured products, or anything that can help expand the Sturdy ecosystem and improve the user experience. Head over to the gov.sturdy.finance to join the governance discussion and help blaze the path for the first positive-sum DeFi lending protocol. This is an exciting time for Sturdy, and not only are you along for the ride, but you can even handle the reins!
