👉Submitting an MIP: How and What's Needed?

In this how-to, you'll learn how to submit an MVC Improvement Proposal (MIP) to the MVCDAO. Familiarity with MVC, DAOs, this how-to makes no assumptions about your experience with governance protocols.

Prerequisites for Proposal Submission:

To ensure a smooth proposal submission process, please adhere to the following prerequisites:

1. vSpace Wallet Holding: Possess a vSpace wallet address with a minimum of 0.2% vSpace holdings. If this criterion is not met, consider the following alternatives:

   • Seek assistance from a committee member or a department head to submit the proposal on your behalf.

   • If your initiative requires participation from other DAO members, secure their consensus prior to submission. Proposals cannot mandate endorsement or participation without prior agreement. For instance, initiatives like the Space/USDT liquidity pool require consensus on private key holdings before proposal submission; otherwise, the proposal will be deemed invalid.

   • Compliance with constitution MIP-1 & MIP-39: Adherence to MVC's general rules and operational framework is mandatory. Proposals not in compliance with MIP-1 & MIP39 require a 75% consensus for approval, versus the standard 60%.

   • Proposal Dependencies/Replacement/Exception: Clearly state if your proposal depends on, replaces, or seeks an exception to a previous MIP (e.g., MIP39 requiring 75% consensus).

Proposal Structure / Template:

• MIP Reference Number: Follow sequence (e.g., If the last proposal was MIP-40, yours would be MIP-41).

• Voting Option: (e.g., Yes or No)

• Name of the Proposal: Provide a succinct introduction to the proposal and its objectives.

• Executive Summary/Objective: Offer a concise summary of the proposal, highlighting its significance and intended outcomes.

5A) Explain why this proposal is necessary and beneficial to the MVC community. This is your chance to convince the community of the value of your proposal.

5B) Implementation Plan: Outline the steps to implement the proposal, including associated costs, manpower, and other resources. If your proposal involves transactions with third parties, ensure to include applicable legal documentation and procedures or selction process.

5C) Timeline: Provide a detailed timeline, including start date, milestones, and completion dates.

5D) Overall Cost - Grant Request: Specify the size of the grant request and justify why this amount is necessary.

Remember, the key to a successful proposal is clarity, detail, and a strong case for why it benefits the MVC community. Good luck!