New Multiplier Governance Guidelines

2 min readOct 7, 2021

The journey towards decentralization continues with the release of the new Multiplier Governance!

The decision-making power rests with the community now, so whether these proposals go through is up to you!

We invite you to actively participate in the governance of the Multiplier Lending Protocol!

How to Submit a Proposal

Step 1
Users are strongly advised to first discuss potential proposals in the telegram channel where governance-related topics and potential proposals are discussed. Council Members will then advise on the technical feasibility and the budgeting of each proposal.

Step 2
Once the discussion is finalised, users will create a proposal to be voted on by the community.
If the proposal garners sufficient support before the voting period ends, the proposal will be executed by the executor and Multi-sig (council members). To create a proposal, users must hold at least 100,000 stakedbMXX. A minimum of 300,000 stakedbMXX is required to pass a proposal.

Rules of Creating a Proposal

1. Proposal MUST have a proper title to reveal the core idea.

2. Proposal MUST begin with Summary section (in short, please).

3. Proposal MUST have an Action Item section to explain each voting option explicitly.

4. Proposal MUST have a proper budgeting solution for the idea

5. Proposal SHOULD provide “at least 2” options in the multiple choice.

6. Proposal SHOULD use “For” / “Against” as options in binary decision.

7. Proposal CAN have Background, Motivation, Specification or any other aspect to support the idea.

8. Users MUST have at least 100,000 stbMXX to create a proposal.

9. Users MUST use the words “MIP-<number>” in front of each proposal

Rules of Voting

1. Users MUST have stakedbMXX to vote (no minimum)

2. Voting power WILL be determined by the amount of stakedbMXX held at time of snapshot. bMXX bought and staked after the snapshot do not qualify.

3. Users CAN vote any number of times — only the last vote counts.

4. Simple majority WILL determine the outcome of the proposal (at least 300,000 stakedbmxx vote casted).

5. bMXX MUST be staked in the governance module at time of snapshot to qualify.

6. The Multiplier DAO will execute a 7/10 Multi-Sig approval process after each successful proposal.

For more information, please go to telegram group Multiplier Improvement Proposals.

Adding New Collateral Types

Here are the risk perimeters for adding new tokens to be accepted as collateral on the Multiplier Lending Protocol.

When considering new tokens to be accepted as collateral, you may utilise the Risk Assessment Tool.