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Participating in on-chain pDAO Proposals

Any node with a non-zero voting power may raise or participate in a pDAO proposal at any time. Proposals can be one of the following types:

  • Changing pDAO settings
  • One-time treasury spends
  • Repeat treasury spends (management committees)
  • Security council membership

For greater detail and rationale, refer to proposal types. It's important to understand that a pDAO proposal is an on-chain entity that exists to execute changes at the protocol level.

Governance Process

A proposal should be forecasted by the governance process before it ends up on-chain.

Changes to the Rocket Pool protocol and proposed, voted, and executed using a strict, yet transparent governance process. The process begins with an informal discussion of an idea within the Discord community. This idea then progresses to formal discussions in the #governance channel on Discord and the DAO Forum, where it undergoes thorough research, modeling, and scrutiny in preparation for a Rocket Pool Improvement Proposal (RPIP). Following this, a draft RPIP is prepared and reviewed by designated RPIP reviewers to ensure its quality and readiness for presentation to the DAO. The draft proposal is then presented to the DAO on the forum for further review, feedback, and incorporation of any necessary changes. Once the proposal has been refined based on community input, a poll is raised on the DAO forum to gauge readiness for finalizing the RPIP text. If the poll passes, indicating community approval, the RPIP is marked final and ready for a Protocol DAO vote, which is conducted via Snapshot to determine whether the proposal should be implemented.

From here, the Oracle DAO will raise an on-chain proposal. There is a window in which the Protocol DAO, Oracle DAO and community can review the proposal. If consensus is reached, the proposal is executed and changes are applied to the protocol.

A handy dandy visual representation of this process can be found on the Rocket Pool website.

Prerequisite

Please read the lifecycle of a proposal before proceeding. It'll explain the differences between all the voting periods and the actions that can be taken during each period.

This rest of this page will walk you though the steps required for participating in on-chain pDAO proposals.

Initializing Voting

If you are a node operator who registered before the Houston upgrade, you need to initialize voting to unlock voting power. Keep in mind that having at least one minipool is a requirement for having voting power.

shell
rocketpool network initialize-voting

You only need to do this once. It configures the initial snapshot information for a node. After you initialize voting, every action taken will update your node's snapshot information. Once your voting power is initialized, you can check how much you have using the following smartnode command:

rocketpool pdao status

NOTE

Whenever a new propsal is created, a voting tree representing a snapshot of the network's voting power and delegate info is created in conjunction with the new proposal. This means your node's voting power won't be included in a proposal if it was raised before you initialized voting. rocketpool pdao status will display your node's voting power at the latest block, which may or may not be representative of your voting power on a particular proposal.

Allowing RPL Locking

You may ignore this step if you are only interested in voting on a proposal Allowing RPL locking is only required for those who wish to propose or challenge a proposal.

RPL locking is required for proposing and challenging. By default, locking RPL for any purpose, will be disabled. Node operator's will opt-in to performing governance activities by enabling the locking of RPL from their node or primary withdrawal address. You can do so using this command in the Smartnode:

shell
rocketpool node allow-rpl-locking

This will prompt you to allow the locking of RPL when creating or challenging governance proposals. Conversely you can use the following command to opt-out of RPL locking:

shell
rocketpool node deny-rpl-locking

NOTE

Locked RPL acts the same way as regular staked RPL for the purposes of rewards, voting, and collateral requirements. Locked RPL is not counted towards thresholds for withdrawing RPL.

Delegating Voting Power

A node operator can elect to delegate their voting power to another Node Operator. This can be done using the following command:

shell
rocketpool network set-voting-delegate <address>

For example, if you wanted to delegate your voting power to 0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145, you would run:

shell
rocketpool network set-voting-delegate 0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145

NOTE

By default, every node has their voting power delegated to itself. So if you've delegated your voting power to another node operator, you can reset this by setting the voting delegate to your own node's address.

  • During phase 1 of a proposal: Delegates may cast their vote on a proposal.
  • During phase 2 of a proposal: Node operators who have delegated their vote get the opportunity to override their Delegate's vote, if they disagree.

If you are a node operator with delegated voting power, you must vote during voting phase 1 for the delegated voting power to count towards the proposal. Your vote in phase 1 will be worth your local voting power + delegated voting power. Your vote in phase 2 is worth your local voting power only.

Creating a Proposal

In order to be eligible to propose, a node must meet a few requirements:

  • Included in snapshotting (either by initializing voting or by registering post Houston)
  • Must have at least one minipool
  • Has non-zero voting power
  • Has allowed RPL locking
  • Has an RPL stake (minus any already locked RPL) greater than the proposal bond

Proposals exist to change parameters and execute code at the protocol level! There should be discussion and consensus through the governance process before a proposal is created on chain.

Use the command rocketpool pdao propose to bring up a menu of options

COMMANDS:
   rewards-percentages, rp      Propose updating the RPL rewards allocation percentages for node operators, the Oracle DAO, and the Protocol DAO
   one-time-spend, ots          Propose a one-time spend of the Protocol DAO's treasury
   recurring-spend, rs          Propose a recurring spend of the Protocol DAO's treasury
   recurring-spend-update, rsu  Propose an update to an existing recurring spend plan
   security-council, sc         Modify the security council
   setting, s                   Make a Protocol DAO setting proposal

Each of these commands will prompt you with a list of inputs to create your desired proposal. In this guide, we'll invite a node to the security council to serve as an example. To raise a proposal to invite a node to the security council, you would use the command:

shell
rocketpool pdao propose security-council invite

Keep in mind that this step will have some slight variation depending on the type of proposal. This particular command: rocketpool pdao propose security-council invite will prompt you to enter an ID followed by a member address.

Please enter an ID for the member you'd like to invite: (no spaces)
test-member

Please enter the member's address:
0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145

... gas estimations ... 

Are you sure you want to propose inviting test-member (0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145) to the security council? [y/n]

After this is included in a block, a pDAO proposal will be created! The proposal will enter the vote delay period upon creation.

Viewing the State of a Proposal

Every proposal is assigned a proposalID. In this case, our proposal to invite 0xBdbc... to the security council is represented with ID 71. There are a few ways to view the state of the proposal. One method will display a list of every pdao proposal along with their state (pending, succeeded, executed, etc). The second method displays in-depth details about a specific proposal.

To list all proposals, use the following command:

shell
rocketpool pdao proposals list

This will display a list of all proposals and their state

1 Pending proposal(s):

71: invite test-member (0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145) to the security council - Proposed by: 0x681B8BBf08708e64694005c7Dc307b381b4D1A7D

Succeeded proposal(s):

Executed proposal(s):

Destroyed proposal(s):

Quorum not Met proposal(s):

Defeated proposal(s):

Expired proposal(s):

Here we can see that our proposal invite test-member has an ID of 71 and is in the pending state. In this state, challengers can dispute the validity of the merkle pollard (used to calculate voting power) supplied by the proposer. When proposal.vote.delay.time ends, the proposal will transition into active voting phases. Feel free to review lifecycle of a proposal for a refresher.

Voting on a Proposal

During a voting period, Node Operators and Delegates can cast a vote with one of four options:

1. Abstain: The voter's voting power is contributed to quorum but is neither for nor against the proposal.
2. For: The voter votes in favor of the proposal being executed.
3. Against: The voter votes against the proposal being executed.
4. Veto: The voter votes against the proposal as well as indicating they deem the proposal as spam or malicious.

Their voting power will be applied to the option of their choosing. Voting power is a function of "effective RPL stake." A more detailed reading can be found in the rocketpool-research repo.

NOTE

If you are a node operator with delegated voting power, you must vote during voting phase 1 for the delegated voting power to count towards the proposal. Your vote in phase 1 will be worth your local voting power + delegated voting power. Your vote in phase 2 is worth your local voting power only. Please keep in mind that a node may vote once and only once on a proposal, so choose carefully

Use this command to cast a vote:

shell
rocketpool pdao proposals vote

You'll be prompted to select a proposal to vote on if there is at least one proposal in an active voting phase. The menu should display all of the proposals your node is eligible to vote on:

1: proposal 71 (message: 'invite test-member', payload: proposalSecurityInvite(test-member,0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145), phase 1 end: 14 Mar 24 05:40 UTC, vp required: 0.00, for: 0.00, against: 0.00, abstained: 0.00, veto: 0.00, proposed by: 0x681B8BBf08708e64694005c7Dc307b381b4D1A7D)
2: proposal 72 (message: 'replace langers-not-his-eoa (0xaC1396c21Eaf6630113516C69d63b7CB59B98b3E) on the security council with tpan (0x6E9E4Cc0A8172349E049128574E1fb85B8D3CE9E)', payload: proposalSecurityReplace(0xaC1396c21Eaf6630113516C69d63b7CB59B98b3E,tpan,0x6E9E4Cc0A8172349E049128574E1fb85B8D3CE9E), phase 1 end: 14 Mar 24 05:40 UTC, vp required: 0.00, for: 0.00, against: 0.00, abstained: 0.00, veto: 0.00, proposed by: 0xe2fC31d61E28BB16c0857D4682AB3616FA7A793d)
3: proposal 73 (message: 'set proposal.vote.delay.time', payload: proposalSettingUint(rocketDAOProtocolSettingsProposals,proposal.vote.delay.time,60), phase 1 end: 14 Mar 24 05:41 UTC, vp required: 0.00, for: 0.00, against: 0.00, abstained: 0.00, veto: 0.00, proposed by: 0x681B8BBf08708e64694005c7Dc307b381b4D1A7D)

After selecting an option, you'll be asked how you want to cast your vote.

How would you like to vote on the proposal?
1: Abstain
2: In Favor
3: Against
4: Veto

Selecting an option will then display your voting power, and then prompt you to send the transaction:

Your current voting power: 20123617964

+============== Suggested Gas Prices ==============+
| Avg Wait Time |  Max Fee  |    Total Gas Cost    |
| 15 Seconds    | 76 gwei   | 0.0176 to 0.0265 ETH |
| 1 Minute      | 56 gwei   | 0.0127 to 0.0190 ETH |
| 3 Minutes     | 56 gwei   | 0.0127 to 0.0190 ETH |
| >10 Minutes   | 56 gwei   | 0.0127 to 0.0190 ETH |
+==================================================+
These prices include a maximum priority fee of 2.00 gwei.
Please enter your max fee (including the priority fee) or leave blank for the default of 56 gwei:

You've successfully voted on the proposal once the transaction is included in the block! At this point, you may use rocketpool pdao proposal details <proposal-id> to view the state of the proposal. A proposal needs to reach proposal.quorum voting power required and a majority voting power for for it to be successful.

Voting power required:  140970562215
Voting power for:       197980809837
Voting power against:   0
Voting power abstained: 0
Voting power against:   0
Node has voted:         In Favor

For the example above to pass, the voting power needs to exceed a quorum of 140970562215 voting power. There is 197980809837 voting power in favor and no votes against or abstained. The proposal is poised for success and ready for execution by the end of proposal.vote.phase2.time.

Executing a Successful Proposal

Congrats! Your proposal has passed! Now all that's left to do is to execute the proposal. Keep in mind that anybody can be the executor to a proposal. To execute a successful proposal, type in the command:

shell
rocketpool pdao execute

Selecting an option will prompt you to send a transaction. Once this transaction is included in a block, the change will be applied to the Rocket Pool protocol!

Please select a proposal to execute:
1: All available proposals
2: proposal 71 (invite test-member (0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145) to the security council)', proposalSecurityInvite(test-member,0xBdbcb42DD8E39323a395B2B72d2c8E7039f1F145)

Claiming Bonds and Rewards

Proposers or Challengers may claim their bonds upon conclusion of a proposal. Depending on the outcome of a proposal, a Proposer or Challenger may or may not be able to claim their proposal.bond and proposal.challenge.bond.

Here are some rules that dictate the conditions in which bonds can be claimed:

  • If a proposal is defeated, the proposer forfeits their bond which is divided proportionally amongst the challengers who contributed to the proposal's defeat. All other challengers receive their bond back only.
  • Contributing to the defeat of a proposal means a challenger submitted an index which was later proven to be incorrect by the proposers inability to reply to a challenge. It is possible that there are multiple incorrect indices but only those that resulted in the defeat of the proposal share the reward. All other challengers receive their bond back only.
  • If a challenger challenges a node, the proposer responds, and the proposal does not get defeated. The proposer can claim the challenge bonds from the invalid challenges.
  • If a proposal is defeated, the proposer forfeits their bond which is divided proportionally amongst the challengers who contributed to the proposal's defeat.

Use this command to claim bonds:

shell
rocketpool pdao claim-bonds

This will display every proposal you're eligible to claim bonds from. You can either claim bonds from a specified proposal, or you can claim bonds and rewards from all eligible proposals.

Please select a proposal to unlock bonds / claim rewards from:
1: All available proposals
2: Proposal 42 (proposer: true, unlockable: 21.00 RPL, rewards: 0.00 RPL)
3: Proposal 43 (proposer: true, unlockable: 21.00 RPL, rewards: 0.00 RPL)
4: Proposal 44 (proposer: true, unlockable: 21.00 RPL, rewards: 0.00 RPL)
5: Proposal 46 (proposer: true, unlockable: 21.00 RPL, rewards: 0.00 RPL)
6: Proposal 47 (proposer: true, unlockable: 21.00 RPL, rewards: 0.00 RPL)
7: Proposal 48 (proposer: true, unlockable: 21.00 RPL, rewards: 0.00 RPL)
8: Proposal 49 (proposer: true, unlockable: 21.00 RPL, rewards: 0.00 RPL)

Once you've selected an option, you'll be prompted with the network's current gas costs recommendations; confirm your gas price selection and follow the rest of the prompts.

+============== Suggested Gas Prices ==============+
| Avg Wait Time |  Max Fee  |    Total Gas Cost    |
| 15 Seconds    | 26 gwei   | 0.1591 to 0.2387 ETH |
| 1 Minute      | 21 gwei   | 0.1261 to 0.1891 ETH |
| 3 Minutes     | 21 gwei   | 0.1261 to 0.1891 ETH |
| >10 Minutes   | 21 gwei   | 0.1261 to 0.1891 ETH |
+==================================================+

These prices include a maximum priority fee of 2.00 gwei.
Please enter your max fee (including the priority fee) or leave blank for the default of 21 gwei:


Using a max fee of 21.00 gwei and a priority fee of 2.00 gwei.
Are you sure you want to claim bonds and rewards from 7 proposals? [y/n]

Note that if you select the first option to claim all available proposals, they will each execute individually and not as one transaction.

Creating a Recurring Treasury Spend

You'll need to prepare a few inputs to create a recurring treasury spend:

  • A contract name
  • The recipient's address
  • Amount of RPL to send per period
  • The start time for the recurring payment (as a UNIX timestamp)
  • The length of each payment period in hours / minutes / seconds (e.g., 168h0m0s)
  • Number of payment periods

INFO

The recipient will need to keep note of the contract name in order to claim payments. Don't worry though, as this information is stored and can be retrieved using the command rocketpool pdao proposals details <proposal-id>

To raise a proposal to set up a recurring treasury spend, use the following smartnode command and follow the prompts:

shell
rocketpool pdao propose recurring-spend

Here's what it looks like all together:

Please enter a contract name for this recurring payment:
test-recurring-spend

Please enter a recipient address for this recurring payment:
0x681B8BBf08708e64694005c7Dc307b381b4D1A7D

Please enter an amount of RPL to send to 0x681B8BBf08708e64694005c7Dc307b381b4D1A7D per period:
1

Your value will be multiplied by 10^18 to be used in the contracts, which results in:

	[1000000000000000000]

Please make sure this is what you want and does not have any floating-point errors.

Is this result correct? [y/n]
y

Please enter the time that the recurring payment will start (as a UNIX timestamp):
1717935233

The provided timestamp corresponds to 2024-06-09 12:13:53 +0000 UTC - is this correct? [y/n]
y

Please enter the length of each payment period in hours / minutes / seconds (e.g., 168h0m0s):
720h

Please enter the total number of payment periods:
24

Once you've entered all the required inputs, a proposal to create a recurring payment will be raised. When the pDAO passes and executes this proposal, the recipient is allocated 1 RPL starting at 2024-06-09 12:13:53 +0000 UTC every 720 hours for a total of 24 payments.

Claiming a Recurring Treasury Spend

Claiming recurring payments should be pretty simple! Navigate to our frontend tool here to do so. If you're trying this out on Holesky testnet, use this link instead.

Once you're on the site, click the connect wallet button. Please read through and accept the Terms of Service & Privacy Policy, this will enable different ways to connect, then click connect metamask.

MetaMask will prompt you to select an account to connect to the website. After you've signed in, you'll need to enter the contract name. Doing so will display all the relevant details. Make sure you double check the recipient's address. Anybody can call the claim function, but each payment contract will have a designated recipient to disperse RPL towards.

You can claim your payments at any time, you'll just get the total unclaimed RPL up until the most recent period. Alternatively you can wait until all periods have passed to collect all at once and save on gas.

Just hit the big orange claim button when you're ready and review the transaction in metamask (or your preferred wallet). Once that's done, you're all set!