On-Chain governance actions (proposal, voting, etc.) for the Euler protocol can be done via the Tally governance dashboard (described below). It is only required for proposals proposing changes to the smart contracts.
Tally is a web-based governance application focused on enabling on-chain governance. The Tally governance web application provides transparency around the governance of various DeFi protocols, e.g., Compound, Uniswap, etc. bringing all of the proposals and voting for these protocols under a shared user interface.
Tally empowers user owned governance through a voting dashboard, governance tooling, and real time research and analysis. Users can use the app to review data on governance systems, active and prior proposals, and individual delegates or token holders. The platform also enabled direct on-chain voting and vote delegation, helping users put their governance insights into action. Through integration with the Euler governance smart contract, Euler token holders can connect their wallets and create proposals, vote, delegate voting power to a community member, discover other delegates in the community, and more.
The Euler Governance Dashboard can be accessed on Tally. The guide below demonstrates how to created an on-chain governance proposal on this dashboard.
Now that you have created a proposal using proposal.euler.finance and it has passed off-chain voting on Snapshot, you are ready to make a proposal on Tally for on-chain voting.
1. Visit the Euler on-chain governance dashboard on Tally and connect your wallet where you have EUL voting power.
⚠️ You CANNOT vote if you have not delegated your token., You have to either delegate your token power to yourself or a delegate in order to vote in governance. Self-delegate or delegate to others here.
2. To create a new proposal, click on Create New Proposal from the DAO home page on Tally as shown in the top right corner in the image below.
This will then open up the proposal creation dialog taking users through the required steps to create an on-chain proposal. In the initial step / screen, it will check that the user has enough voting power to meet the proposal threshold specified within the governance smart contract.
3. The Continue button shown above will become active if the connected wallet has the reqired voting power that meets the proposal threshold. Upon clicking continue, you will be presented with a form to input the proposal name and add a short description as shown below.
4. Users will need to add the actions to be executed should the proposal become successful or receive majority of vote in support. In this step, users can specify the target smart contract address (this should be the [stub governance smart contract address -](https://etherscan.io/address/0x8233f21dda26229c8b0586c3c2521be5da0e6328 0x8233f21dda26229c8b0586c3c2521be5da0e6328) for phase one of the governance launch), smart contract function and required function parameters (the hex data for your proposal created on proposal.euler.finance). Up to a maximum of 10 actions can be added in a single proposal.
You do not need to upload smart contract ABI file as it will be automatically imported from the verified contract on etherscan.
5. The following page will then be the review page allowing the user to review and confirm that the specified actions are correct:
Once confirmed, the proposal will then be created on-chain and if successful, Tally will display the proposal page with the description and status as it progresses (e.g., pending, active, succeeded, queued, executed).
Full Tally documentation can be accessed online at: Tally. The documentation describes how to navigate the web app, voting and delegation and creating a Tally account.
Off-chain governance actions (proposal, voting, etc.) for the Euler protocol can be done via the Snapshot governance dashboard (described below). For off-chain governance, there is no code to review or implement as such. It is mainly a call for the Euler Foundation to carry out an action. Issue a grant, or pay a bill, for example. Thus mainly used to aid Euler in making difficult decisions in collaboration with the community.
Snapshot is an off-chain, 'gasless', multi-governance community polling dashboard used by a number of decentralised finance projects including the likes of Aave and Balancer.
It provides a simple interface to create governance proposals and lets users vote on them by connecting their wallets and the governance tokens contained within. However, the actual voting process is conducted off-chain to save on gas costs and complexity to enable community members 'signal' their preferences on proposals before any on-chain actions or governance process.
The Euler Governance Dashbaord can be accessed on Snapshot.
1. Navigate to the Euler home page on Snapshot and connect your wallet where you have EUL voting power. You should see the Euler space home page as shown below.
⚠️ You CANNOT vote if you have not delegated your token., You have to either delegate your token power to yourself or a delegate in order to vote in governance. Self-delegate or delegate to others here.
2. Click on New proposal on the left hand side of the window of the Euler space home page (shown above). It should open up the new proposal form for you to complete which looks like this:
It will also check your connected wallet for voting power and let you know the current proposal threshold.
3. Enter the proposal title.
4. Enter the proposal description (it can be formatted using markdown) and you can also enter a link at the bottom pointing to your proposal on the Euler Governance Forum on Discourse.
5. Click on Continue after previewing your proposal and go to the Actions box and select the voting type and start date of your proposal (end date will be shown based on the current voting period settings). The proposal creation block number is the snapshot where the voting power of voters will be counted.
6. Click on Publish and your proposal will be created. You will be prompted by Metamask to sign a transaction which is free and the proposal will then become active on Snapshot.
Full Snapshot documentation can be accessed via the Snapshot documentation site.