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💡Thales Improvement Proposals (TIPs)

TIPs are the catalyst for change within the Thales protocol. These community submitted proposals can be anything from formalizing the tokenomics of the platform to adding tradable assets to market feeds. There is no central point of decision-making within the platform; proposals are thought up, discussed and vetted by the community until they reach a state of consensus and agreement that a specific change should move forward. Only then can a TIP be submitted to the Council for consideration.

Incentivized TIPs

As per TIP-154, submitter are incentivized with 500 USD worth of THALES tokens for TIPs that pass the Thales Council vote!

The creation and submission of TIPs is fairly formal and time consuming and very few TIPs are submitted my community members that are not current or past council members or core contributors. We want to see Thales evolve with the input of the entire community, so now when a TIP is voted in the author will receive 500 USD worth of THALES via the Thales Treasury.

The following parameters must be met for a TIP author to become eligible for the incentive:

  • The TIP must pass the voting process, with at least 5 of the 7 council members voting in favor of the TIP, or 7 out of 7 for meta-governance.

  • TIPs involving trivial parameter changes, such as Buyback & Burn updates, LP ratios and LP incentive amounts will be excluded.

  • Core Contributors and Council Members are excluded.

Once a TIP has been voted in with 5/7 (or 7/7 if meta governance) YES votes, the author is eligible for 500 USD worth of THALES distributed via Treasury.

The amount of THALES tokens required to equal 500 USD will be calculated at the time the incentive is sent, and will be based on the current rate obtained by the Treasury from a reputable source.

This incentive will be delivered either via Discord Tipbot or by sent directly to an address provided to the Treasury by the author. If a TIP is created and submitted by multiple authors the incentive amount will be split equally among each author.

Steps to Create a Successful TIP

  1. The community gives birth to an idea, shapes it, molds it, burnishes it in the fires of discussion.

  2. Once enough support is evident, an author will use the TIP Template to craft the proposal in the correct format.

  3. TIPs are submitted by forking the TIP GitHub Repository and adding the new TIP.

  4. TIP Editors will reach out to the author and assist them with any edits required to make the TIP meet format and content standards.

  5. Core Contributors will assist the TIP author with doing a feasibility study to ensure the TIP could be successful in practice.

  6. A TIP is reviewed by the Thales Council and if the proposal is feasible, the Council will interview the author.

  7. The Council will vote on the TIP using the TIP tab of the governance site.

  8. If successful, the Council will work with the Protocol DAO to merge the branch and officially deploy the update to the protocol.

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