Hey Delegates!
Thanks to everyone who joined the Delegate kick-off calls on Tuesday! It was great to meet some of you and to answer some of your questions that you have so far. As promised, below is a summary of the call discussion points.
The main topics discussed in the call and are summarized below include:
- The future of standing Delegate calls
- Q&A from Delegates in attendance
Please note that a few questions were combined and rephrased into a clearer âFAQâ format.
Additional Note: Gov Team = ZKsync Governance Systems Team
Call Format & Cadence
Re Format:
In regards to format for these standing delegate calls, there were two main themes in the responses: updates & discussion.
- Updates on:
- Status of active proposals
- Each other / focus for near-mid term
- Discussion around:
- Upcoming / draft proposals
- Pressing topics: e.g. governance procedure, global ecosystem updates
What still remains unclear for the feedback collected was if these calls should be more for general Delegate updates and discussion, or if they should focus more on reviewing proposals.
There were two Delegates who made the suggestion that it might be a good idea to hold separate calls to discuss specific proposals, and leave the standing call for general discussion and coordination. This could be a really helpful way for proposal authors to get even more direct feedback from Delegates on their proposals.
Re Cadence:
Each call had a different preference for the cadence of the standing Delegate calls. I think it would be helpful to first settle on the purpose of the calls (outlined above) before determining which cadence would make sense, but this is still a helpful starting point.
- Call 1: Bi-weekly
- Call 2: Monthly
Call Schedule Proposal:
-
Monthly Standing Delegate Calls: Focus on general Delegate updates and discussions. Ask each other for support or identify areas to work together.
- Cadence: Monthly
- Timing: For now will plan to host on Tuesdays
- Host: Shelby can host the first few calls, but will hand over to Delegates to run themselves eventually.
-
Ad-hoc Proposal Review Calls: Focus on discussing specific proposals
- Cadence: As needed/when new proposals are posted
- Timing: Ideally this call would take place before a proposal is submitted onchian, and the proposal author(s) should be present to discuss as well.
- Host: Delegates in cooperation with the proposal author(s)
This proposal is open for feedback and counterarguments. If there are no major objections, I will plan to schedule the next Standing Delegate Call in a month with this format, and will leave the scheduling of Proposal Review Calls up to Delegates and proposal authors to coordinate as needed.
Frequent Questions and Answers (FAQs)
What happens if I donât have 21M tokens delegated and want to submit a proposal?
To submit a proposal, Delegates must meet the proposal submission threshold of 0.1% or 21 million ZK of the total ZK token supply (21 billion). If a Delegate does not meet the threshold, or the author is not a Delegate, they can find a Delegate to sponsor and submit the proposal on their behalf. Delegate profiles can be viewed at delegate.zknation.io.
Are there proposal templates?
Yes! You can find links to each of the three proposal templates linked in the corresponding Guideline overview for each proposal (ZIP, TPP & GAP). You can also find all three templates here. The ZKsync Association recommends Delegates read both the Guidelines and templates for each proposal type.
Is there any off-chain voting?
All governance is onchain. There is no âoff-chainâ governance that takes place on Snapshot, for example. Instead, the GovOps Governor allows for the delegated voting power conveyed by the ZK token to be used to vote on Governance Advisory Proposals (âGAPsâ), that do not have direct onchain consequences.
GAPs provide legitimacy to off-chain decisions through onchain Token Assembly Delegate voting. These types of decisions could include ratification of changes to canonical governance documents, elections or nominations, deciding to connect an external application or interoperable chain to ZKsync governance. Read more about GAP Guidelines.
Will the Association write and submit proposals?
The Association will be focused on supporting the three bodies of governance to brainstorm and draft proposals. The Association will be more of a resource, or âutility providerâ to the governance system, rather than participating in governance directly.
Have investors delegated and do they plan to vote?
All voting power related to vested tokens, whether locked or unlocked, can be delegated. The ZKsync Association has been made aware of multiple investors who have delegated or are in the process of delegating their token voting power.
Are we expected to make a Delegate post on the forum?
There are a few Delegates who have started a Delegate Communication thread on the forum under the Delegates category. Delegates are welcome to add a thread themselves, but it is not mandatory. Delegates are welcome to use this space in a way that works for them best!
The Gov Team does encourage all Delegates to make sure your Tally Delegate profiles are up to date and include as much detail as possible (e.g. areas of focus, bio, description of values/focus, relevant links). This helps other members of the Token Assembly find Delegates that align with their values to delegate to, as well as allows other Delegates to search for like-minded
Why is liability protection needed for Delegates/why was the Association Membership set up the way it was?
Delegates can opt in to become a member of the ZKsync Association, an ownerless, non-profit association. This is a new model to address potential personal legal liability of Delegates for decisions made in connection with the Token Assembly. This model was inspired by the need to address concerns and hesitations around governance participation that arose after the Ooki DAO case in 2022.
Disclaimer: The legal and regulatory environment regarding governance participation is still very volatile. There is no guarantee for complete liability protection. Risk tolerance varies for each individual and should be evaluated on a personal basis.
How long should proposal be on the forum before being submitted onchain?
Proposals should be discussed and reviewed before they are submitted onchain for voting. While there is currently no official length of time a proposal needs to be on the forum under review before being submitted onchian, the Gov Team encourages Delegates to use common sense here. It is important to note that if a proposal is rushed to onchain submission without ample time for the community to review and provide feedback, this will decrease the chances of it passing.
Rule of thumb: The length of time a proposal needs to be on the forum before being submitted onchain should correspond with the significance (complexity of an upgrade, amount of funds being requested) of the proposal being submitted.
Are there any open proposals?
As of September 19th 2024, there are no proposal drafts on the forum or submitted to onchain governance. However, the Gov Team has been informed of some proposals that may be posted on the forum by the next week, ending on September 27th 2024.
What are the immediate short-term goals for ZKsync governance over the next 3 months?
The ZKsync Governance North Star outlines the purpose and primary goals of the ZKsync governance system. Ensuring that protocol upgrades can be executed without any issues will also be a priority, as protocol governance will always be the priority of the ZKsync governance system.
When drafting proposals, the primary goals listed in the North Star along with the vision outlined in the ZK Credo should be kept in mind.
Will the ZK token be involved in the decentralization of the network, decentralizing the sequencer etc?
The specifics of the ZK token relationship to decentralizing the sequencer need to be discussed, decided & voted on through the protocol governor.
What will the ZKsync Governance Systems Team be focused on over the next few months (~3 month)?
Now that governance has launched, the Gov Team is focused on onboarding stakeholders to governance and figuring out the best way to support each of the governance bodies.
The Gov Team refers to the ZKsync Governance North Star while planning initiatives, and encourages Delegates to also do the same.
What about âgrantsâ?
Proposals Token Programs are meant to activate new token mechanics. ZKsync Token Programs are not meant for one-time grants, one-time events, or a specific MVP. Instead, they are focused on deploying executable contracts that create flows of ZK into the ecosystem.
Examples: Incentive program that deploy contracts that distribute funds based on onchain KPIs to qualified recipients.
If you have an idea for a smaller project, try to think bigger to see if it can be transformed into a Token Program. Read more about Token Program Proposal (TPP) Guidelines.
Are any builder support programs planned (grants or others)?
Currently, no. This could be a great idea for a potential Token Program!
Is there a treasury?
No. The Token Assembly (comprising token holders and Delegates) has been allocated 29.3% of the total ZK token supply. Instead of distributing funds from a pre-minted treasury, this allocation is accessed by minting new tokens through the ZK token contract, managed via the Token Governor.
For most onchain organizations, tokens are minted at launch and passively held in wallets/in a treasury. ZKsync uses capped minters. Instead of minting the entire supply of tokens at once, capped minters have âjust-in-time minting.â This design allows new interaction models, such as connecting smart contracts that burn and mint ZK tokens autonomously. You can find more information on the initial token distribution on the ZK Token page of docs.zknation.io.
Who has the power to distribute ZK?
All proposals are onchain and require the approval of the Token Assembly. The Token Governor is responsible for executing Token Program Proposals (âTPPsâ) that assign minting and burning rights of ZK tokens for token programs that are aligned with the Token Program Guidelines, and help achieve the goals supporting the vision of the ZK Credo. The Token Governor is governed by the Token Assembly (i.e. token holders & Delegates).
The Guardians may exercise an onchain veto on any proposal submitted to the Token Governor or the GovOps Governor (âOnchain Vetoâ). With the signatures of five (5) Signers on the Guardian Multisig, the Guardians have the power to execute an Onchain Veto by calling the cancel function from the Guardian Multisig, which means the proposal cannot progress towards execution.
Focus of these calls
Cadence
Time
Format/Agenda
Facilitation
Recording
Delegate Call Calendar
