Welcome to the $OPEN multiverse.
$OPEN is an equal-weight index tracking leading stablecoin-networks advancing transparency, composability, and user-led governance.
Here are some things you can do to get started:
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Start with the launch post: https://x.com/OpenStableIndex/status/1914693944690270343 -
Explore the full index: https://www.openstablecoinindex.com/ -
Join $OPEN Secret Admirers on Telegram to meet other contributors. Just prove you hold 100 $OPEN to get past the bot.
Want to get involved with $OPEN Governance?
Since launching on the Reserve protocol, $OPEN, a decentralized token folio (DTF), follows a proven two-step governance model used by other DTFs.
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Step 1: RFCs (Request for Comments) are offchain discussions, live for at least 3 days on the forum: https://forum.reserve.org/c/more-tokens/open-dtf
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Step 2: IPs (Improvement Proposals) move onchain for multi-day voting at app.reserve.org under OPEN > Governance.
Understanding this RFC-to-IP process makes everything faster and smoother. A full explainer is here: DTF Governance Workflow
$OPEN is governed by vote-locked $SQUILL (vlSQUILL-OPEN), empowering holders to propose, vote, and earn a share of fees. Learn more about SQUILL.
Since some IP governance parameters vary by DTF, the table below summarizes the framework for OPEN you should be aware of.
| Type | Notes | Voting Delay | Voting Period | Execution Delay | Proposal Threshold | Voting Quorum |
|---|---|---|---|---|---|---|
| Basket Governance | Changes to the basket composition of $OPEN | 1d | 1d | 1d | 1% | 10% |
| Non Basket Governance | Fees, voting parameters, and anything other than basket changes for $OPEN | 2d | 3d | 2d | 1% | 10% |
| vlDAO Governance | Settings of the vlDAO including vote-lock unstaking duration and approving revenue tokens | 1d | 1d | 1d | 1% | 10% |
By following the standardized governance flow, starting from RFCs, transitioning into IPs, and finalizing with on-chain execution; $OPEN DAO can streamline the governance process and make it easier for both new and existing community members to participate. This uniform structure helps to reduce barriers to entry, fosters clear communication, and increases the likelihood of meeting quorum and achieving consensus within the community.
Feel free to drop questions or suggestions in the comments!