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8a9e94b
rewrite governance section
ulieth 274fd78
add redirect for renamed dao-treasury page
ulieth b29a6cd
refine governance wording and styling
ulieth df48ec2
fixed wrong percentages in the image
ulieth e1de368
add new chart with forum categories
ulieth a99504d
Apply DAO wording suggestions from review
ulieth c421bb5
Address review comments on DAO and tokenomics docs
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| --- | ||
| title: Community Forum | ||
| description: "How to navigate the StakeWise Forum: categories, tags, and how discussions turn into governance proposals." | ||
| --- | ||
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| import Image from '@theme/IdealImage' | ||
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| # Community Forum | ||
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| The [StakeWise Forum ↗](https://forum.stakewise.io/) is the home of DAO governance. It's where ideas are first proposed, refined through community discussion, and eventually written up as formal **StakeWise Improvement Proposals (SWIPs)** before being put to a Snapshot vote. | ||
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| If you want to influence the direction of the protocol, whether by suggesting a change or giving feedback on a proposal, or simply to stay informed, the forum is the place to start. Anyone can register and post. | ||
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| ## Categories | ||
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| <Image img={require('./img/forum_categories.png')} alt="Forum Categories Chart" /> | ||
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| The forum is organized into five main categories: | ||
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| - **Ideas:** early-stage discussion of changes that could eventually become proposals. | ||
| - **Proposals:** formal SWIPs submitted for community review. Each post here represents a concrete proposal moving through the voting process. | ||
| - **Ecosystem:** community initiatives, grants, integrations, and partnerships that grow the protocol's reach. | ||
| - **Node Operators:** validator allocations and other topics specific to node operators. | ||
| - **Uncategorized:** general discussion that doesn't fit the other categories. | ||
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| :::custom-stakewise[Join the Conversation] | ||
| Browse the discussions and share your ideas on the [StakeWise Forum ↗](https://forum.stakewise.io/). | ||
| ::: |
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| Original file line number | Diff line number | Diff line change |
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| --- | ||
| title: Governance | ||
| description: Understand StakeWise governance — how SWISE token holders vote on fees, oracle management, upgrades, and other protocol decisions. | ||
| description: How SWISE token holders vote on protocol parameters and upgrades through the StakeWise DAO. | ||
| --- | ||
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| # Governance | ||
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| StakeWise is governed by its community through the **SWISE** token. The governance system empowers token holders to shape the protocol's future by voting on key parameters and proposals. | ||
| StakeWise is governed by its community through the **SWISE** token. Holders, collectively known as the StakeWise DAO, vote on key parameters and upgrades that shape the protocol's future. | ||
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| ## How Governance Works | ||
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| The StakeWise DAO is responsible for making critical decisions about the protocol, including: | ||
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| - Setting fees and commissions | ||
| - Managing oracles and node operators | ||
| - Approving protocol upgrades and new features | ||
| - Controlling the DAO Treasury | ||
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| Governance decisions are implemented through **StakeWise Improvement Proposals (SWIPs)**, which are discussed and voted on by SWISE token holders. | ||
| Every decision takes the form of a **StakeWise Improvement Proposal (SWIP)**, discussed on the community forum and voted on by SWISE holders in the DAO voting process. | ||
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| :::custom-stakewise[Participate in Governance] | ||
| Join the conversation and vote on proposals at [StakeWise Forum ↗](https://forum.stakewise.io/) and [StakeWise Snapshot ↗](https://vote.stakewise.io/#/) | ||
| Join the conversation on the [StakeWise Forum ↗](https://forum.stakewise.io/) and vote on proposals on [StakeWise Snapshot ↗](https://snapshot.box/#/s:stakewise.eth/). | ||
| ::: | ||
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| ## Governance Structure | ||
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| The governance system consists of two main components: | ||
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| - **[StakeWise DAO →](./stakewise-dao)**: The community-driven governance mechanism powered by the SWISE token | ||
| - **[DAO Treasury →](./dao-treasury)**: A multi-signature wallet managed by a committee that executes approved governance decisions |
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| --- | ||
| title: StakeWise DAO | ||
| description: Learn about StakeWise DAO governance, the role of the community, SWISE tokenomics, and how protocol parameters are decided. | ||
| description: Learn about StakeWise DAO governance, the role of the community, and how protocol parameters are decided. | ||
| --- | ||
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| import Image from '@theme/IdealImage' | ||
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| # StakeWise DAO | ||
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| <p style={{fontSize: '1.2em', color: 'rgba(var(--moon-rgb), .5)', marginTop: '-10px', marginBottom: '20px'}}>Learn the basics of StakeWise DAO governance</p> | ||
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| ## Community-first approach | ||
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| The sole purpose of StakeWise's existence is to make staking as seamless and profitable as possible. | ||
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| Community feedback and adoption matter a lot for achieving this goal, and therefore StakeWise aims to create a cohesive community of stakers by putting the governance of the protocol in their hands. | ||
| The StakeWise DAO is the collective of SWISE holders that steers the protocol. Because community feedback drives development, the power to decide how StakeWise evolves rests in the hands of its token owners. | ||
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| ## Role of the DAO | ||
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| The DAO's job will be to govern the important system parameters like: | ||
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| - fees paid by stakers, | ||
| - commissions paid to node operators, | ||
| - onboarding and offboarding of oracles and node operators, | ||
| - principles of liquidity mining campaigns, | ||
| - whitelisting of gauge contracts, | ||
| - Insurance Fund payout triggers, | ||
| - approval of contract changes for the introduction of new features, and more. | ||
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| When choosing these parameters, the community will need to optimize for both its immediate interests as stakers and the long-term success of the protocol through a correct choice of parameters. | ||
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| ## Tokenomics | ||
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| :::custom-info[$SWISE Token Contract] | ||
| `0x48C3399719B582dD63eB5AADf12A40B4C3f52FA2` | ||
| ::: | ||
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| <Image img={require('/img/tokenomics.png')} alt="Token Allocation & Emission Chart" /> | ||
| <p style={{textAlign: 'center', fontSize: '0.9em', color: 'rgba(var(--moon-rgb), .5)', marginTop: '5px'}}>Token allocation and emission</p> | ||
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| Alignment of interests of the platform and its participants shall happen through an allocation of 51% of the governance token supply to the community and the existence of basic mechanisms that allow gaining voting power by simply staking with StakeWise. Other token holders will be investors and the development team behind StakeWise. | ||
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| **Total supply:** 1,000,000,000 $SWISE | ||
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| **Vesting & allocation:** | ||
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| - **Community:** 510,000,000 $SWISE, 4-year vesting | ||
| - **Investors:** 251,500,000 $SWISE, 6-month cliff + 18-month linear vesting | ||
| - **Team:** 217,000,000 $SWISE, 6-month cliff + 42-month linear vesting | ||
| - **Future fundraise:** 21,500,000 $SWISE, available immediately | ||
| The DAO is responsible for the key decisions that shape how StakeWise operates: | ||
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| The starting date for the emission is April 1st, 2021. | ||
| - osETH fees paid by stakers | ||
| - onboarding and offboarding of oracles | ||
| - the design of liquidity mining campaigns | ||
| - management of the protocol's Treasury | ||
| - approval of contract changes that introduce new features | ||
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| --- | ||
| title: Tokenomics | ||
| description: SWISE token allocation, vesting schedules, supply, and contract address. | ||
| --- | ||
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| import Image from '@theme/IdealImage' | ||
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| # Tokenomics | ||
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| :::custom-info[SWISE Token] | ||
| - **Total supply:** 1,000,000,000 SWISE | ||
| - **Address (Ethereum Mainnet):** [0x48C3399719B582dD63eB5AADf12A40B4C3f52FA2 ↗](https://etherscan.io/token/0x48C3399719B582dD63eB5AADf12A40B4C3f52FA2) | ||
| ::: | ||
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| The chart below shows how the total SWISE supply was allocated across stakeholders at TGE and how each allocation was vested over time. | ||
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| <Image img={require('./img/token_allocation_chart.png')} alt="Token Allocation & Emission Chart" /> | ||
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| To align the interests of the protocol and its various stakeholders, the largest share of the SWISE supply was reserved for the community, with the remainder allocated to investors, the StakeWise team, and a reserve for future fundraising. | ||
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| - **Community:** 510,000,000 SWISE, 4-year vesting | ||
| - **Investors:** 251,500,000 SWISE, 6-month cliff + 18-month linear vesting | ||
| - **Team:** 217,000,000 SWISE, 6-month cliff + 42-month linear vesting | ||
| - **Future fundraising:** 21,500,000 SWISE, no vesting | ||
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| Token emissions began on April 1, 2021, and followed the vesting schedules above. |
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| --- | ||
| title: Treasury | ||
| description: "The StakeWise DAO Treasury: assets controlled by SWISE holders and deployed through governance votes." | ||
| --- | ||
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| # Treasury | ||
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| The StakeWise DAO Treasury is a transparent, on-chain pool of assets controlled directly by SWISE token holders. Secured by smart contracts, it holds the protocol's capital (primarily **osETH** and **SWISE**) and exists to ensure its longevity and self-sustainability. | ||
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| :::custom-info[Treasury Addresses] | ||
| - **Ethereum:** [0x144a98cb1CdBb23610501fE6108858D9B7D24934 ↗](https://etherscan.io/address/0x144a98cb1CdBb23610501fE6108858D9B7D24934) | ||
| - **Gnosis:** [0x8737f638E9af54e89ed9E1234dbC68B115CD169e ↗](https://gnosisscan.io/address/0x8737f638E9af54e89ed9E1234dbC68B115CD169e) | ||
| ::: | ||
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| ## How the Treasury Spends | ||
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| The Treasury's operational framework relies on smart contracts and social consensus: no individual can unilaterally withdraw assets, and every spend follows the same path. Each expenditure is proposed and discussed on the community forum, then approved by SWISE holders through a Snapshot vote. Every outflow leaves a verifiable record of how the DAO has chosen to allocate its capital. | ||
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| In practice, those decisions have taken many forms: | ||
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| - [SWIP-38 ↗](https://forum.stakewise.io/t/swip-38-deploy-400-oseth-from-the-stakewise-dao-treasury-into-fluid-for-protocol-owned-liquidity/2008) transferred 400 osETH from the Treasury to the Liquidity Committee to seed protocol-owned liquidity for osETH on [Fluid ↗](https://fluid.io/), so the DAO acts as its own liquidity provider instead of renting liquidity through token incentives. | ||
| - [SWIP-30 ↗](https://forum.stakewise.io/t/swip-30-gradually-replace-swise-liquidity-incentives-with-oseth-from-treasury/1794) began gradually replacing SWISE token emissions to liquidity providers with osETH paid out of protocol revenue, reducing dilution while keeping incentives in place. | ||
| - [SWIP-31 ↗](https://forum.stakewise.io/t/swip-31-issue-development-grant-for-stakewise-labs/1881) issued a 12-month grant of 500 osETH and 500 osGNO to StakeWise Labs in 2025 to cover engineering, business development, and operational costs, supplementing the team's node-operating revenue. | ||
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| ## Multisig | ||
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| The Treasury is a [Gnosis Safe ↗](https://safe.global/) multisig with 7 members. It uses the [SafeSnap module ↗](https://docs.snapshot.box/v1-interface/plugins/safesnap-reality) (which lets approved Snapshot votes trigger Safe transactions) to execute decisions on-chain. | ||
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| Because any account can submit a transaction to the Safe via SafeSnap, the committee's role is to monitor proposed transactions and reject any that fall outside what the DAO has approved. Rejecting a transaction requires **4 of 7 committee members** to co-sign. | ||
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| ### Current Committee Members | ||
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| - [Ali Nuraldin ↗](https://x.com/Ali_run) (0x7E36F1fF26cffD6906c11Cd7Eca5f6E993Ba6CE3) | ||
| - [Andreas Dittrich ↗](https://www.linkedin.com/in/andreas-dittrich-eu/?originalSubdomain=de) (0xc0c9707B552C6970f66Ab91D563Bf9b6048E9da6) | ||
| - [Auryn Macmillan ↗](https://x.com/auryn_macmillan) (0x9Aa6Db877742aD8D8c7fE209F561fbd2bE19D5F4) | ||
| - [Dmitri Tsumak ↗](https://x.com/tsudmi) (0x61B01a33Aea3e827B3941Ab097778bd3FA48a332) | ||
| - [Gleb Dudka ↗](https://x.com/gleb0x) (0xC46e791d4fB1207fAB8Cb0e44889127138539c69) | ||
| - [Mikko Ohtamaa ↗](https://x.com/moo9000) (0x9cC9c3de8e710781983a65b90B7efEaaD2D3D7D8) | ||
| - [Otto de Voogd ↗](https://x.com/ottodv) (0x1C86117156Ba31b5d62f02eB56bE9aC5a06610d3) | ||
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| ### Former Committee Members | ||
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| - [Anthony Sassano ↗](https://x.com/sassal0x) (0x648aA14e4424e0825A5cE739C8C68610e143FB79) | ||
| - [Jascha Samadi ↗](https://x.com/jaschasamadi) (0x152E9Af50257Fc12a84Bb47241cc0bd01ECD2ac1) | ||
| - [Miko Matsumura ↗](https://x.com/mikojava) (0xA2E49855d672C3258A8442FA15F9Bc28f5A55980) |
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| --- | ||
| title: Voting Process | ||
| description: "How StakeWise DAO governance works: from idea to Snapshot vote, on-chain execution, bonds, and the escalation game." | ||
| --- | ||
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| import Image from '@theme/IdealImage' | ||
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| # Voting Process | ||
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| StakeWise is governed entirely by its community. Anyone can propose changes to the protocol, and SWISE holders decide whether to adopt them. The sections below describe how an idea becomes a governance vote. | ||
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| ## Governance Process | ||
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| <Image img={require('./img/from_idea_to_execution.png')} alt="From Idea to Execution Chart" /> | ||
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| Every proposal moves through three phases: | ||
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| ### Phase 1: Ideation | ||
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| Anyone can start the process by posting an idea in the **Ideas** category with the `phase-1` tag. The goal of this phase is to refine the idea through community discussion and stakeholder feedback. There is no formal threshold to move forward, only the need for visible community support. | ||
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| ### Phase 2: Specification | ||
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| Once an idea has been refined, the proposer writes it up as a formal **StakeWise Improvement Proposal (SWIP)** using the template below and posts it in the **Proposals** category with the `phase-2` tag. An informal forum poll then measures DAO sentiment over **5 days**. To advance to Phase 3, the poll must close with more votes in favor than against; otherwise the proposal is dismissed. | ||
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| :::custom-notes[SWIP Template] | ||
| Every formal proposal posted in the **Proposals** category follows this structure: | ||
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| - **Executive summary:** a short, plain-language overview of what the proposal does. | ||
| - **Motivation:** the problem the proposal solves and why it matters. | ||
| - **Specification:** the precise details of the proposed change. | ||
| - **Considerations:** risks, trade-offs, and alternative approaches. | ||
| - **Vote and discussion:** the question put to the DAO and room for community discussion. | ||
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| For a real example, see [SWIP-40 ↗](https://forum.stakewise.io/t/swip-40-increase-bond-requirement-for-initiating-escalation-game-in-governance-remove-manifold-relay/2038). | ||
| ::: | ||
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| ### Phase 3: Snapshot | ||
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| A **Snapshot vote** opens for **7 days**, during which SWISE holders cast their votes. The SWIP is updated with a link to the vote and the `phase-3` tag to signal that DAO action is required. | ||
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| - **Submission threshold:** anyone holding at least **1,000,000 SWISE** can submit a proposal and start the Snapshot vote. | ||
| - **Passing conditions:** the proposal passes only if **YES votes exceed NO votes** and at least **3,000,000 SWISE** participate in total. | ||
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| ## On-Chain Execution | ||
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| Not every proposal has on-chain effects; some are signaling-only. Proposals that *do* include on-chain actions are secured by a bonding mechanism that guarantees execution matches the Snapshot result. | ||
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| Execution moves through four steps: | ||
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| ### Step 1: Bond Submission | ||
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| After the Snapshot vote ends, anyone can post a **1,000,000 SWISE bond** asserting the vote's outcome (for example, *"the vote ended YES"*). This submission opens the escalation game. | ||
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| ### Step 2: The Escalation Game | ||
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| <Image img={require('./img/escalation_game.png')} alt="Escalation Game Chart" /> | ||
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| A **24-hour countdown** begins. During that window, anyone who disagrees with the submitted answer can challenge it by posting the opposite answer, but they must put up **double the previous bond**. Every challenge resets the 24-hour timer and doubles the required bond again: | ||
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| `1M SWISE → 2M → 4M → 8M → …` | ||
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| There is no formal cap; the progression continues until no one challenges within the window. When the timer finally runs out, the last-standing answer wins, and **the winning side claims the losing side's bonds**. | ||
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| :::custom-info[The Escalation Game, Explained] | ||
| The escalation game is an economic mechanism for settling disputes about a vote's result. Anyone can challenge an incorrect answer, but each challenge is twice as expensive as the previous one. | ||
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| Because the community that voted for the true outcome has much greater economic power than any single attacker trying to flip the result, defending the correct answer is always cheaper than overturning it. | ||
| ::: | ||
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| ### Step 3: Multisig Cooldown | ||
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| Once the escalation game settles, a **24-hour cooldown** begins. During this window, the [DAO multisig](./treasury#multisig) can reject the result. | ||
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| ### Step 4: Execution | ||
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| After the cooldown ends: | ||
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| - **Anyone** can execute the vote on-chain (this costs gas). | ||
| - **Winning bonders** can withdraw their bonds along with those claimed from the losing side. |
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