Proposal Types

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Proposal Types
Governance proposals on the Mirror Protocol can come in a variety of formats. There are four main categories of governance proposals: Asset Listing, Reward Distribution, Parameter Modification, and Suggestion / Others.
Asset Listing
1. Suggest Asset Whitelisting
The full process of getting a new asset to be fully operational on the Mirror Protocol is described here.
The function of this proposal is to start a poll to whitelist a new asset. Given that this is a simple text proposal, there are a few fields that need to be filled. The Asset Name, Ticker, Listed Exchange, and Reason for listing are required. The length of the description field is limited to 1024 bytes. It is suggested that additional information be added on a separate web page and linked to using the Information Link field.
Information that would be necessary for a voter to make informed decisions should be clearly stated in addition to reasons for listing this asset and the asset name and ticker. For example, simply stating:
Google should be listed because it is a popular stock
has numerous problems. First, the specific exchange that the price feed should be taken from is not clearly stated (many companies are dual-listed). Second, Google actually has two stocks that are publicly traded: GOOGL and GOOG (the former has voting rights whereas the latter does not). In addition, the official name registered with NASDAQ is not Google but rather Alphabet Inc. Thus it is extremely important to make it as clear as possible to others about the asset that you intend to whitelist.
Field
Description
Type
Asset Name
Name of the asset to be whitelisted
Required
Ticker
Ticker of asset to be whitelisted
Required
Listed Exchange
Exchange that the underlying asset trades on
Required
Reason for listing
Short description of whitelist reason
Required
Information Link
External URL for further information
Optional
Suggested Oracle
Oracle provider or address
Optional
2. Register Whitelist Parameters
If a proposal to whitelist is approved, another poll must be passed to set the parameters of the newly listed asset. The required fields include Title, Description, Asset Name, Symbol, Oracle Feeder (address), Auction Discount, and the Minimum Collateral Ratio. Again, it is advised to include reference to the passed whitelist poll as well as reasoning for choosing the given oracle address. Given that the Mirror Protocol is in its early stages, it is advisable to keep the parameters equal to existing parameters for already listed assets (Auction Discount at 20%, and Minimum Collateral Ratio at 150%).
The original 13 mAssets utilize Band Protocol’s feeders, so a rough guideline to communicate with Band Protocol to receive the oracle address is provided below. If another oracle address would like to be suggested, please input the address in the Oracle Feeder field.
To ensure proper functioning of the price feed, newly whitelisted asset on Mirror Protocol also undergo a 1 week testing period where the prices are still fed by the oracle but no buy/sell, mint, or staking actions can be performed.
Field
Description
Type
Title
Title of the poll
Required
Description
Short description of the poll
Required
Information Link
External URL for further information
Optional
Asset Name
Name of the asset to be whitelisted
Required
Symbol
Ticker to be used on Mirror Protocol (format: m+ticker)
Required
Reference Poll ID
Poll ID of referenced poll (ex. whitelisting poll)
Optional
Oracle Feeder
Oracle feed address
Required
Auction Discount
Discount ratio applied during CDP liquidation auction
Required
Minimum Collateral Ratio
Minimum collateral ratio applied when opening a mint position
Required
3. Suggest Pre-IPO Asset
The function of this proposal is to start a poll to whitelist an asset which is scheduled to go through an initial public offering (or IPO), but is not publicly listed yet. Similar to the "Suggest asset whitelisting" proposal, this is also a text proposal. Fields that need to be filled are Asset Name, Ticker, Listed Exchange, and Reason for listing. It is suggested that additional information on the IPO or supporting information to be added using the Information Link field.
Field
Description
Type
Title
Name of the asset to be whitelisted
Required
Reason for listing
Short description of whitelist reason
Required
Asset Name
Name of the asset to be whitelisted
Required
Symbol
Ticker of the asset to be whitelisted
Required
Listed Exchange
Exchange which the underlying asset will be traded on
Required
Information Link
External URL for further information
Optional
Suggested Oracle
Oracle provider or address
Optional
4. Register Pre-IPO Parameters
After the proposal to suggest Pre-IPO asset is approved, an additional poll to register the asset to Mirror Protocol must be submitted and executed.
Field
Description
Type
Title
Title of the poll
Required
Description
Short description of whitelist reason
Required
Information Link
External URL for further information
Optional
Asset Name
Name of the asset to be whitelisted
Required
Symbol
Ticker of the asset to be whitelisted
Required
Reference Poll ID
Poll ID of the referenced poll
Optional
Listed Exchange
Exchange which the underlying asset will be traded on
Required
Oracle Feeder
Oracle Feeder address
Required
Auction Discount (after IPO)
Discount ratio applied during CDP liquidation auction for Post-IPO asset
Required
Min collateral ratio (after IPO)
Minimum collateral ratio to be used for mint operations for Post-IPO asset
Required
Min Collateral Ratio (during mint period)
Collateral ratio to be applied during mint_period
Required
Mint Period
Number of seconds which mint operation will be allowed for Pre-IPO asset
Required
Pre-IPO Price
Fixed price decided by official IPO registration statement, which will be used for Pre-IPO asset
Required
5. Delist Asset
Specific mAsset on Mirror Protocol is delisted upon approval and execution of this poll. More information about delisting can be found here.
Field
Description
Type
Title
Name of the asset to be whitelisted
Required
Description
Short description of whitelist reason
Required
Information Link
External URL for further information
Optional
Asset Name
Droplist of mAsset on Mirror Protocol
Required
Reward Distribution
This category allows modification of two types of MIR distribution: 1) mAsset LP staking reward; 2) Governance voting reward.
1. Modify mAsset Reward Distribution
Through this poll, the ratio which newly minted MIR tokens are distributed among LP token stakers, called weight parameter can be changed. To learn how weight parameter determines the amount of MIR distributed to each mAsset pool refer to this document.
Field
Description
Type
Title
Name of the asset to be whitelisted
Required
Reasons for modifying weight parameter
Short description of whitelist reason
Required
Information Link
External URL for further information
Optional
Asset
Droplist of mAsset on Mirror Protocol, which to change weight parameter for
Required
Weight
Weight parameter to be applied for LP staking reward distribution
Required
Parameter Modification
This poll category allows modification of mAsset, governance contract, collateral and premium tolerance parameters in Mirror Protocol.
1. Modify mint parameters
Through this poll, the existing Mirror Protocol parameters for a specific individual mAsset can be modified. The possible parameters to be updated consist of either the Auction Discount and the Minimum Collateral Ratio.
Field
Description
Type
Title
Title of the poll
Required
Reasons for modifying mint parameters
Short description of the poll
Required
Information Link
External URL for further information
Optional
Asset
Name of the asset to modify parameters
Required
Auction Discount
Discount ratio applied during CDP liquidation auction
Required
Minimum Collateral Ratio
Minimum collateral ratio applied when opening a mint position
Required
2. Modify governance parameters
Similar to modifying mint parameters, governance parameters such as the Quorum, Threshold, Voting Period, Effective Delay, Expiration Period, Proposal Deposit and Voter Weight can be modified.
Fields
Description
Type
Title
Title of the poll
Required
Reason for modifying governance parameter
Short description of the poll
Required
Information Link
External URL for further information
Optional
Quorum
Minimum quorum required for accepting a poll (in percentage)
Optional
Threshold
Minimum percentage of YES votes to pass a poll (in percentage)
Optional
Voting Period
Length of poll (in units of seconds)
Optional
Effective Delay
Length of delay before protocol integration for a passed poll (in units of seconds)
Optional
Expiration Period
Length of expiration period when for a failed poll (in units of seconds)
Optional
Proposal Deposit
Minimum deposit to start a poll (in units of MIR)
Optional
Voter Weight
Ratio of rewards to be distributed to governance voting participants
Optional
3. Modify collateral parameters
Through this poll, existing collateral's multiplier or oracle address can be modified.
Field
Description
Type
Title
Title of the poll
Required
Reasons for modifying collateral parameter
Short description of the poll
Required
Information Link
External URL for further information
Optional
Collateral (Asset)
Droplist of collateral types on Mirror Protocol, which to modify parameter for
Required
Multiplier
Number to be min_collateral_ratio of the asset being minted
Required
Collateral Oracle Feeder
Address of the collateral oracle used for this asset type
Required
Suggestions / Others
1. Spend Community Pool
Proposals relating to spending the accrued MIR tokens in the community pool can be made under this section. The proposal should ideally specify the reasons for the distribution and identify the recipient and amount to be given.
Fields
Description
Type
Title
Title of the poll
Required
Reason for community pool spending
Short description of the poll
Required
Information Link
External URL for further information
Optional
Recipient
Grant recipient address
Required
Amount
Grant amount (in units of MIR)
Required
2. Text Poll
The function of the text proposal is to allow proposals that do not fit the defined categories. Given that it is a basic text proposal, simple fields for the Title, Description, and an Information Link for additional information.
Field
Description
Type
Title
Title of the poll
Required
Description
Short description of the poll
Required
Information Link
External URL for further information
Optional