Introducing Balancer Improvement Proposals (BIPs)

Following up on the recent discussions on Discord, I’d like to introduce a new format for proposals relating to Balancer governance via a formal process. Thank you @Coopahtroopa and the Fire Eyes team for helping us design this!

A Balancer Improvement Proposal (BIP) is a mechanism for suggesting protocol upgrades through the governance forum and Snapshot voting. Key points to keep in mind include:

  • Title - Post each proposal with a clear title around its objective

  • Ordering - Please do not assign a number to your BIP. The ordering of the proposal will be assigned by community moderators when it moves to Snapshot for voting.

  • Detail - While we encourage everyone to participate, please try to consider all viewpoints and provide a deep level or detail regarding the thoughts that went into a proposal.

  • Voting - Not every proposal will make its way to a Snapshot vote. There is no hard criteria regarding what deems a proposal eligible for a vote, though a good rule of thumb is the more engagement a proposal has, the more likely it is to be put to a vote.

  • Ethos - The goal of governance is to create a more inclusive and empowering system for all stakeholders. We encourage proposal creators to center their ideas around how a proposal helps Balancer users, partners and team members better interact with one another, and how these changes create a more fluent ecosystem for all those interacting with the protocol.

When you’re ready to submit a proposal, please follow this format to the best of your ability. Should a proposal receive enough community support, it will be moved to the Balancer Snapshot for BAL-weighted voting.

BIP Format:

  1. Summary
    2-3 sentences on what the proposal is and what changes are being suggested without going into deep detail.

  2. Abstract
    Expanded summary introducing the proposal, what it entails and details around what would change should the proposal be implemented.

  3. Motivation
    Describe the motivation behind the proposal, the problem(s) it solves and the value it adds. This is your chance to show how you reached the conclusions that this proposal is necessary, and how the changes would benefit the protocol if implemented.

  4. Specification
    Describe the “meat & potatoes” of the proposal. Go into deep detail around the changes that will happen both on a technical and social level. The more detail, the better.

  5. Benefits
    Point out core benefits of the proposal implementation and how it will affect the system.

  6. Drawbacks
    Highlight any drawbacks from implementing the proposal and points to consider regarding the upgrade.

  7. Vote
    Clearly outline what voting “yes” and “no” entails + link to snapshot or forum poll to vote.
    For: Formalizes the community is “for” the details outlined in this proposal including xyz…
    Against: Formalizes the community is “against” the proposal including xyz…