Raising a proposal

To raise a proposal, a user must hold, or have delegated to their wallet an amount of vBUMP equal or greater than 1% of the total deposited BUMP in the governance contract.

It is highly recommended that before a proposal is formally raised that it is presented as a Bumper Request for Comments (BRC) in the Bumper Forum to allow other community members to provide suggestions or amendments. To increase the likelihood of a proposal passing a community vote, it's also recommended that an off-chain vote via Snapshot be conducted too.

All proposals begin as Initial Bumper Improvement Proposals (iBIPs), and are transformed to full proposals once they have been reviewed and accepted by a simple majority vote by the Technical Steering Committee (TSC).

A proposal creator can only create one active proposal at a time, but this does not affect their ability to vote on other proposals raised by any other creator.

How to Raise a Proposal

To raise a proposal, visit the Bumper DAO and select the proposals tab, and then click on Create Proposal. As the submission of any proposal is an on-chain event, the creator must pay the required gas fees.

There are a number of requirements which must be entered into the proposal including the a name and description and at least 1 'Action'.

Actions include selecting a target address, whether it is a proxy or not, the values for the action, and any required function calls. Each proposal may contain a maximum of 10 actions, and when the proposal is executed, all actions are executed, or none of them, meaning that if a single action reverts, then the whole proposal execution also reverts.

For full details on how to raise a proposal, see the how-to guide here.

Withdrawing a proposal

The creator may withdraw the proposal by calling the cancel function. Furthermore, if the creator’s BUMP balance falls below the required level as set out in the ‘Create a Proposal’ phase, the proposal will automatically fail.