ALCHEMY
Alchemy is DXdao’s on-chain governance system that was created by DAOstack. On DXdao’s Alchemy portal, REP holders can vote for on-chain proposals for the budgeting, resource allocation, and strategy decisions of DXdao.
Anyone can make proposals on Alchemy. A proposal is equivalent to a project pitch that contains an explanation of objectives, methods, costs and milestones of the proposed project.
Anyone can predict through staking GEN tokens on whether a proposal is going to pass or not. This helps guide the collective voting process by sorting and prioritizing the proposals.
Currently, only REP holders can vote on proposals. DXdao is, however, finalizing its Governance 2.0 initiative, which will give on-chain voting power to both DXD and REP holders that stake DXD in DXdao’s governance contract, lock liquidity on Swapr, or stake DXD in an Omen prediction market.
Alchemy Voting Parameters
Alchemy created the Genesis Protocol, which is an implementation of holographic consensus as a smart contract on the Ethereum blockchain.
On-Chain Voting. Alchemy requires an ethereum address to incur REP on and vote. The Ethereum address is where these parameters are stored (not where the protocol itself is).
Activation Time. Represents that date and time, represented in Unix time, when proposals can be submitted.
Queued Vote Period Limit. A non-boosted proposal is open for voting for 21 days.
Boosting. Anyone can boost a proposal by staking GEN to show confidence in the proposal’s passage. Proposals that are boosted receive a shorter vote time of seven (7) days. Once a proposal is boosted, the proposal’s vote time will shorten after 24 hours, if no one stakes against the proposal’s passage.
Proposal Reputation Reward. ETH addresses may claim REP for making proposals that pass.
Pre-Boosted Vote Period Limit. DXdao currently has a pre-boosting period of one (1) day, which is the length of time that a proposal must maintain a confidence score (upstake divided by downstake) higher than the boosting threshold to become eligible for boosting.