Asset Universe Update Process
The AMKT DAO governance process from proposal through to implementation.
The crypto market is likely to keep changing at a rapid pace. We want AMKT to keep up with those changes while remaining a useful, passive benchmark. Participation by as many AMKT holders is highly encouraged.
At launch the AMKT Stewards will have published the initial AMKT Asset Universe. Updates will be made by the Stewards regularly as new crypto assets are created. If the updates the Stewards are making are to the liking of AMKT Token holders, no votes are required. However, if the AMKT Token holders disagree with an addition/subtraction to the AMKT Asset Universe, then they can create governance proposals to signal that.
Any verified AMKT holder (see Verification for DAO Voting) may create a proposal to include/disinclude an asset in the AMKT Asset Universe. Any other verified AMKT holders may vote on the proposal. If a 10% quorum of AMKT token supply votes to adopt a proposal before the proposal expires, andn the AMKT Governance Stewards believe that the proposal does not violate the spirit of this constitution, nor the values expressed in the AMKT Asset Universe, the Asset Universe will be updated to reflect the change. Whether an asset is included or disincluded in the AMKT Asset Universe is not an endorsement/opposition of the value of the asset in any way by any participants.
The AMKT DAO governance process consists of the following distinct steps:
- Holders discuss changes they would like to make to the DAO with other members of the community.
- Temperature Check
- Optionally, holders create an informal 'temperature check', a temperature check is a discussion where users can gauge the DAO Members' appetite for changes before formally crafting a proposal to vote on them.
- Holders craft an AMKT Proposal – a detailed proposal of changes they intend to make to the AMKT DAO.
- The proposal is voted on by DAO Members through Snapshot.
- The proposal is interpreted by the Stewards against the AMKT Theme for constitutionality.
- The Stewards will ensure that the next calculation of the AMKT Index reflects the proposal.
The AMKT DAO forums host a discussion section, where users can informally discuss ideas about new changes to the asset universe with other members of the community. Please be patient and respectful to other members of the community, and allow time for all ideas and discussions to be fully considered before proceeding with a temperature check and proposal.
The purpose of the Temperature Check is to determine if there is sufficient will to make changes to the status quo.
To create a Temperature Check, ask a general, non-biased question to the community on the temperature check governance board about a potential change (an example being: “Should NEWCOIN be included in AMKT?”). Forum posts should be in the "Temperature Check" subcategory of the appropriate workstream.
Temperature checks are informal. it's up to you to use the feedback to decide if you want to proceed further with your proposal. It is advised but not mandatory that community members create temperature checks for their proposals. However, be aware that proposals which have been put up for temperature checks by the community are more likely to succeed than proposals without a temperature check.
Once you're satisfied that there's sufficient interest in a proposal that it should be put to a vote, create a proposal at https://snapshot.org/#/dao.amkt.eth.
In order to create or vote on proposals, users must be verified with the AMKT DAO. More information as well as instructions on how to do this can be found at Verification for DAO Voting.
Example proposal for the inclusion of a new asset in the Alongside index.