The PoolTogether protocol is fully decentralized in the hands of POOL token holders. Anyone who has 10,000 POOL tokens delegated to them is able to create a proposal that is voted on by all POOL token holders. This posts covers how to create a proposal.
Proposals can technically be created to do anything. However, in practice many proposals will likely center on a subset of specific actions. A proposal creation interface has been developed making it simple to interact with the smart contract functions of the protocol. This example shows how to create a proposal that adjusts the number of POOL tokens being given to Dai Prize Pool depositors, this is just one example of what can be done.
To get started, visit the proposal creation interface and select the contract you want to interact with. In the image below, the contract selected is the token faucet for the Dai Prize Pool.
Once you have a contract selected, you’ll see a list of functions available. Select the function you want to propose to be changed. In this example, this “drip rate per second” function is selected. Changing this function would change the speed which Dai Prize pool depositors are given POOL tokens.
Finally, input the value you would like to use. You can go through steps 1–3 again creating a proposal that includes multiple actions.
Now that you have the actions defined, write a title and description and hit “submit”. This will start the voting process. Remember, you must have at least 10,000 POOL delegated to your address to do this. The proposal will have 5 days to be voted on. If it receives the majority of votes AND at least 100,000 POOL votes it can then be executed.
This proposal UI only shows a certain subset of simple actions. Ultimately proposals can be created for other actions not shown here. If you have an idea for a proposal, the best place to start is on governance forum. If it has support, anyone with 10,000 POOL tokens can submit it for voting using the proposal interface.