Governance

To participate in governance decisions for the Summer Protocol, visit forum.summer.fi and gov.summer.fi - These platforms provide a comprehensive list of all closed, ongoing, and upcoming proposals for the Summer DAO. By voting, $SUMR holders can directly influence the protocol’s future.

Voting Power

Voting power in the Summer.fi DAO is determined by the amount of $SUMR tokens you hold or have been delegated. The governance system ensures a fair voting mechanism, giving more influence to those holding or representing a larger share of $SUMR.

To calculate voting power, the system tracks $SUMR token ownership and delegation at the time of the snapshot for each proposal and applies the Voting Power Decay. Learn more in: https://forum.summer.fi/t/understanding-decay-delegation-in-summer-governance/37

Key Participants in Governance

1. Delegates: Delegates are key players in Lazy Summer Governance, holding voting power through self-delegation or from others in the community who trust them with their $SUMR tokens. Their role is crucial, and they’re rewarded for their efforts with $SUMR tokens.

2. Delegators: Delegators are $SUMR token holders who choose to delegate their voting power to a trusted individual, empowering delegates to represent their interests in governance decisions, they also earn $SUMR rewards and need to be active in checking their Delegates Voting Power.

Validation of Proposals

For a proposal to pass, it must reach a quorum. The quorum for governance proposals is set at 2% of the total supply, which is 2M $SUMR tokens.

The voting period for general proposals lasts 4 days, followed by a 48-hour timelock to finalize the decision and implement changes. While there is no mandatory waiting period before initiating a vote, proposers are strongly encouraged to discuss their ideas on the Summer Governance Forum before submitting an official proposal.

For more details on Summer Improvement Proposals (SIPs) please refer to the forum: https://forum.summer.fi/c/governance/15

Delegation

Delegation allows you to assign your voting power to another member of the Summer community, referred to as a “delegate.” Delegates are responsible for actively participating in governance on behalf of the token holders who trust them with their votes.

More info on: Delegation