MAIP-1.1:
Manta Foundation Treasury and Governance Transparency System
Abstract
Manta Network pioneers a revolutionary governance framework by catalyzing its path towards decentralization, introducing a dynamic system of checks and balances. This innovative approach ensures a just and democratic decision-making process for pivotal network matters.
MAIP-1.1, outlines the key aspects of treasury and governance transparency system to ensure fair and democratic, accountability, and efficient utilization of resources within the foundation.
Motivation
The decentralization of the Manta Network has placed significant responsibilities on the Manta Foundation, necessitating a robust governance structure for managing the treasury effectively. MAIP-1.1 is motivated by the need to establish clear guidelines and mechanisms for overseeing the foundation's financial assets and operations.
Rationale
Governance Transparency System
MAIP1 defines the Manta Improvement Proposals (MAIPs) Framework for all subsequent MAIPs. This foundational MAIP provides templates, processes, and guidelines for working within the framework and defines the key roles required for the operation of the MAIP process.
The evolution of Manta Network into a fully decentralized and self-sustainable ecosystem necessitates a formalized process of decision-making. In a permissionless ecosystem, the opportunity to propose changes and improvements should be open to all.
The MAIP Framework aims to empower each community member by offering a standardized method of engaging with the wider community and shaping the protocol’s future.
Ecosystem Growth Incentives
Additional funds, beyond those specified in the lockup schedule, will be earmarked for ecosystem growth incentives, released based on the lockup timetable, and present opportunities for the foundation to strategically collaborate and engage in partnerships with companies or organizations that might require private negotiations.
The foundation, with ample funding, aims to represent the DAO in fostering the growth of the Manta ecosystem.
Transparency Reports
Manta Foundation will regularly publish transparency reports every quarter, providing details about the usage of Manta Foundation funds, ecosystem growth, projects’ progress, key decisions, and the status of community proposals.
These reports will offer a comprehensive understanding of the DAO's economics, governance, and ecosystem growth, allowing community members to gain a full picture of how MantaDAO operates.
Manta Network Improvement Proposal (MAIP) Template
There are two types of MAIP
General MAIP:
Used for standard proposals.
Technical MAIP:
Used for proposals involving changes to Manta Network's smart contract code.
MAIP Template
-
Proposal Overview
Concisely outline the content of the proposal, including the goals of the improvement, expected outcomes, and key information.
-
Proposal Motivation
Clearly articulate why Manta Network should implement this proposal, the purpose of the proposal, and potential impacts on the ecosystem.
-
Proposal Background
Provide background information, introducing the problem, challenge, or opportunity, giving readers a more comprehensive context to understand the significance of the proposal.
-
Key Terms (Optional)
Define terms that are unique or industry-specific within the proposal to ensure an accurate understanding of the proposal.
-
Proposal Details
Describe in detail the technical or governance specifics of the proposal, including the platforms, technologies involved, and key steps.
-
Implementation Steps
List the specific steps needed to implement the proposal, including costs, manpower, and other resources where applicable.
-
Timeline
Specify relevant timing details, including the start date, milestones, and completion dates, to keep the community informed about the progress plan.
-
Overall Cost
Provide an estimate of the total cost to implement the proposal, giving the community an understanding of resource requirements and potential investments.
-
Risks and Risk Management
Identify potential risks associated with the proposal and provide corresponding risk management strategies to ensure smooth implementation.
-
Community Feedback
Encourage community members to provide feedback on the proposal and describe how feedback will be collected and addressed.
-
Proposal History
If this proposal is an improved version of a previously submitted and unapproved proposal, provide links to the original proposal, reasons for non-approval, and details of the changes made.
-
Additional Information
Include any additional information such as charts, diagrams, or other visual materials supporting the proposal.
Note: This template aims to provide a comprehensive framework for the community to understand and evaluate proposals. Proposers can customize this template as needed to better fit specific Manta Network Improvement Proposals.
The MAIP Lifecycle
-
Conception:
A proposal is posted on the Manta Network forum under the designated category. MAIP Editors assist the Author.
-
Approval by the Manta Foundation:
The Manta Foundation checks the proposal's format, originality, and GitHub submission.
-
Manta Request for Comments (MRC):
Community review and redrafting phase, with specific durations for Feedback and Frozen Periods.
-
On-Chain Submission:
The Author submits the MAIP for an on-chain vote, either independently or with an Editor's help.
Community Participation
MantaDAO encourages active community participation in the governance process. Through the MIP (Manta Improvement Proposals) framework, any community member has the right to propose and discuss suggestions, contributing to the development and decision-making of the DAO. The approval process for MIPs will be conducted transparently and fairly, ensuring that every community member's voice is heard.
Governance Meetings and Discussions
MantaDAO will regularly organize governance meetings to discuss current and future governance issues. These meetings will be conducted openly through community forums, with summaries provided in transparency reports. Governance meetings will serve as a platform for community members to exchange ideas, voice concerns, and participate in decision-making.
Governance Voting
MantaDAO's voting mechanism aims to create a transparent and fair governance process, allowing every MANTA stakeholder to participate in the governance process.
All governance voting will be conducted using transparent voting protocols such as Snapshot and zkVote, which ensure low gas costs and transparent processes. ensuring the protection of each voter's rights and verifying voting results.
Community Feedback Mechanism
MantaDAO welcomes community feedback to improve governance transparency and processes continually. Community members can share their perspectives and suggestions through social media, forums, or by directly reaching out to the core team. Community feedback will be carefully considered and addressed in transparency reports.
Implementation Steps
The implementation of the proposed treasury governance outlined in MAIP-1.1 will involve the following steps:
-
Execute Smart Contract Lockup:
Initiate the smart contract lockup through an on-chain transaction, ensuring strict adherence to the specified parameters. This process involves placing a time-based restriction on a portion of the MANTA tokens in the administrative wallet.
-
Allocate Funds Based on Operating Budget:
Allocate funds according to the outlined operating budget, ensuring a transparent breakdown of expenditures. The allocation will be based on the comprehensive budget covering general and administrative expenses, research and development, technical infrastructure, as well as activities, marketing, and communication initiatives.
-
Implement Release of Additional Funds:
Execute the release of additional funds earmarked for ecosystem growth initiatives in alignment with the lockup timetable. These funds, released based on the predetermined schedule, present opportunities for strategic collaboration and partnerships to foster the growth of the Manta ecosystem.
-
Generate and Publish Transparency Reports:
Regularly generate and publish transparency reports in a timely manner. These reports will offer detailed insights into the financial activities and decision-making processes of the foundation. Information provided will include the usage of Manta Foundation funds, the progress of ecosystem growth initiatives, key decisions, and the status of community proposals.
Manta Foundation aims to establish a transparent, accountable, and efficient treasury governance system, providing the community with a clear understanding of the foundation's financial operations and promoting responsible financial stewardship.
