Detailed Instructions

Begin by drafting a formal Governance Proposal that clearly defines the change. This must include the exact parameter name (e.g., liquidationPenalty, maxLeverage), its current value, and the proposed new value. The proposal must be backed by a risk analysis justifying the change, which should model the impact on protocol solvency, user positions, and market stability. This analysis is often shared first in the protocol's governance forum for community feedback.

• Sub-step 1: Identify the target parameter within the specific protocol module (e.g., PerpetualMarketModule.sol).
• Sub-step 2: Run simulations using the protocol's public testnet or a forked mainnet environment to assess impact.
• Sub-step 3: Document the rationale, simulation results, and any potential edge cases or risks.

solidityCopy
// Example: Parameter location in a hypothetical contract
interface IRiskManager {
    function setLiquidationRatio(uint256 _newRatio) external;
    uint256 public liquidationRatio; // Current value: 110% (1.1e18)
}

Tip: Engage with the community and core developers on the forum early to gauge sentiment and refine your analysis before formal submission.

Detailed Instructions

Formalize the draft into a post on the protocol's official governance forum (e.g., Commonwealth, Discourse). Use a clear title format like "[Proposal] Increase ETH Perp Initial Margin to 12%". The post should contain the full technical specification and analysis. This stage is a temperature check to gather feedback, identify opposition, and build consensus. Actively respond to questions from other token holders and delegates. Many protocols require a minimum level of positive sentiment or a preliminary snapshot vote on the forum before a proposal can move on-chain.

• Sub-step 1: Format the post with clear sections: Abstract, Specification, Motivation, Risk Analysis, and Poll.
• Sub-step 2: Initiate a sentiment poll (e.g., For, Against, Abstain) that runs for 3-7 days.
• Sub-step 3: Incorporate constructive feedback and publish revised versions of the proposal as needed.

Tip: Tag key delegates and community members who are active in risk parameter discussions to ensure your proposal receives adequate attention.

Detailed Instructions

If forum sentiment is favorable, prepare the on-chain transaction. This involves encoding the calldata for the function call that will execute the parameter change. Use the governance framework's specific proposal submission interface (e.g., Governor Bravo's propose function). You will need to meet a proposal threshold, which is a minimum amount of governance tokens required to submit. The proposal metadata (description, forum link) is often stored on IPFS, and the hash is included on-chain.

• Sub-step 1: Generate the calldata for the target contract function (e.g., RiskManager.setLiquidationRatio(1.15e18)).
• Sub-step 2: Use a tool like the protocol's front-end or a script to interact with the Governor contract's propose function.
• Sub-step 3: Pay the gas fee and confirm the transaction. Record the resulting proposal ID.

javascriptCopy
// Example using ethers.js to encode calldata for a proposal
const riskManagerInterface = new ethers.utils.Interface(RiskManagerABI);
const calldata = riskManagerInterface.encodeFunctionData('setLiquidationRatio', [ethers.utils.parseUnits('1.15', 18)]);
// calldata is then used in the governor.propose() call

Tip: Double-check all addresses, values, and calldata. An erroneous proposal cannot be canceled once submitted in many systems.

Detailed Instructions

Once the proposal is live on-chain and in the voting period, you must campaign to secure delegated votes. The voting power is determined by token balances, often with a snapshot taken at the proposal submission block. Reach out to large token holders (whales) and delegates who have voting power delegated to them. Present your case clearly, referencing the forum discussion and analysis. Monitor voting platforms like Tally or Snapshot. Be prepared to answer technical questions about the proposal's implementation and long-term effects. This phase is critical to achieve the quorum and majority required for approval.

• Sub-step 1: Identify major delegates and their voting addresses through the protocol's delegate dashboard.
• Sub-step 2: Communicate directly via social channels, providing concise summaries and links to detailed material.
• Sub-step 3: Track voting progress in real-time and address any last-minute concerns or misinformation.

Tip: Transparency is key. Clearly disclose any potential conflicts of interest and focus arguments on the protocol's long-term health and security.

Detailed Instructions

After the voting period ends, the proposal enters a timelock period if one is configured. This delay allows users to react to passed changes. Monitor the countdown. Once the timelock expires, any address can call the execute function on the governance contract to enact the change. Verify the execution transaction on a block explorer. After execution, conduct a post-implementation review. Confirm the new parameter is active by checking the contract's public view function. Monitor protocol metrics (liquidation frequency, open interest, insurance fund health) to validate that the change is having the intended effect and no unforeseen issues arise.

• Sub-step 1: Note the timelock expiration timestamp and set a reminder.
• Sub-step 2: After execution, query the contract directly to confirm the parameter value has updated.
• Sub-step 3: Report back to the community with a summary of the execution and initial observations.

bashCopy
# Example: Querying the new parameter value via cast (Foundry)
cast call <RiskManagerAddress> "liquidationRatio()(uint256)" --rpc-url $RPC_URL

Tip: A successful proposal creates a precedent. Document the entire process to improve future governance efforts and institutional knowledge.