BEHOLD! Tellor Improvement Proposals!
Now that Tellor is fully decentralized, any further updates will need to be proposed and voted by the community. In order to ensure that the community is up to speed on how exactly this process shakes down, this article will aim to lay out the lifecycle of what has been deemed the Tellor Improvement Proposal (TIP):
First, the definition:
Tellor Improvement Proposals (TIPs)
Tellor Improvement Proposals (TIPs) are the mechanism used for improving Tellor’s protocol through an open process that allows for transparent governance by our community of token holders. TIPs describe any proposed improvements, fork proposals, and pre-specified data requests for the Tellor community to discuss and vote on.
Next, each TIP as separated into these categories:
Tellor On-chain (solidity updates)
- Scalability — Any changes that improve throughput.
- Security — Any changes that improve security or address any potential attack vectors for censoring Tellor.
- General — Any general code improvements ranging from improving comments to changes that decrease gas costs and any updates that are not directly related to scalability or security.
- New data — additional
- Miner — improvement proposals for the miner
- General — off-chain changes that do not fall in the categories above. It can include improvements to any Tellor process including the TIPs process.
All others that do not fall into any of the categories above.
And without further ado, step-by-step process:
Ideas should be thoroughly discussed prior to opening a pull request in the GitHub issues of this repository. Once the idea has been discussed and a proposal can be formally submitted, a pull request can be initiated, and the proposal will go through these phases:
- Draft: where the community will be able to view the full written proposal, further comment and provide feedback. If the proposal includes changes to the code base to Tellor, the miner, or a full fork the draft code should be submitted along with the written draft.
Proposals that include changes to the code base will go through development, review, audit (if required), 100% coverage for local tests and be deployed, verified on Etherscan, and tested on a test net before the final review.
- Final review: where the community will be able to view the final proposal and the final code base for it (if it required it) deployed and verified on mainnet.
- Voting period: Is the seven-day on-chain voting period where the community will vote on the proposal.
- Implemented/rejected: After the voting period, on-chain updates and votes will be automatically implemented or rejected. Proposals to the miner code base or any other off-chain improvements will be implemented accordingly.
Without the admin key, the power is now in the hands of the community. We’re excited to witness the first TIP, which has actually been set to be the release of V2.5 as to kickstart this new chapter of Tellor’s community. Keep an eye out for our next article which will detail this initial proposal.