I have a couple questions regarding DAO's, more specifically how Open Zepp's Governor contract works. Supposing you have 2 contracts.... MyToken (basic ERC20 token contract that inherits all openZep Governor contracts, looks like.... contract MyToken is ERC20, ERC20Permit, ERC20Votes {) and there is the Governor Contract. I am assuming the MyTokens are what are used to express voting power in the Governor contract right?
1.)If my assumption above is correct. Supposing the ratio set in the Governor Contract is that 1 MyToken = 1 Vote in the Governor contract. Do users who want to vote have to manually convert their MyTokens to Votes via the mint function or delegate function or some ofther function that coverts their MyTokens into Votes or is the number of votes you have in the Governor Contract automatically tracked based on the number of tokens you have in MyToken contract?
2.)If a proposal is voted on, accepted and executed it looks like more Tokens are minted to the user who made the proposal. Like all these tutorials do the following after the proposal is accepted.... This will execute the passed proposal and the governance contract will mint the ERC-20 mintable tokens to the account that you provided in the call data when creating the proposal. I'm guessing this is purely because the proposal was... "Should we mint more tokens to the user who made the proposal?" Right? It's not like a standard thing that every single proposal that is accepted will mint new tokens to the proposer after it's accepted? This is just specific to the tutorials i am doing right? Just want to clarify this.
Thanks for everyone who read this and replies with the good stuff.
Users don't have to "convert" their tokens into votes, but they do have to delegate in order to opt-in to voting power tracking. They can "self-delegate", or they can delegate their tokens to a trusted community member. I say that this is not "converting" because once they have delegated they can continue using their tokens just like before delegating.
Yes it definitely sounds like that's the case.
Thanks for the response. Appreciate the help. One last question for you or anyone who comes across this thread. I understand a timelock (Open Zepp's TimeLockController) on a lot of these DAO's will enforce a minimum delay between the proposition and the execution of the proposal but confused about what how it affects token holders and the DAO itself. More specifically....
1.)Supposing a proposal is accepted, there is now a delay between that point in time (when it was accepted) and the when it will be executed. So is one of the main purposes for this "delay" to allow DAO members (token holders) to opt out of whatever changes will be executed as a result of this proposal? IN other words if they don't like the proposal it gives them time to get out? If that correct, how do they actually get out? Do they have to transfer their tokens out of the DAO? Of is there another way they get out?
2.)t would seem unusual to me that DAO members would be allowed to propose and vote on governance proposals but then "Get out" at will if they don't want to the proposed changes to affect them? Logically it just seems like you'd have to accept the results of a proposal/vote (take the good with the bad) and accept the changes. In other words the TimeLockController and delay seems couninterintuitive to the entire point of membership. If anything i would think a TimeLockController would lock up people's tokens until the proposal was exectued to ensure they don't vote/propose issues and then jump ship when they don't like the results. Sounds like a smart contract for Trump/Maga fans lol. What am I missing here?
The delay is generally not meant for DAO members to opt out, but for users of the system the DAO controls to opt out. Imagine that the DAO has the upgrading rights of an L2 rollup and they vote to make an unpopular change. The users on the L2 will have time to exit before the upgrade is applied.
Thanks again for the reply. I see. So it is generally used for upgrades and such. By hypothetically speaking a proposal could be made for anything dependigng on what type of DAO it is right? So you could have a DAO where a proposal is voted on that says.... "Every member must send the owner 5 tokens". Now if this proposal passes than all DAO members would automatically have their balances deducted by 5 tokens right?
So in the case where you have a "Time Lock Controlller" on, then does that allow the DAO members to get out before the proposal is actually executed? In other words during the delay they can get out so they don't have to send the owner 5 tokens?
Again, hypothetical scenario, but curious how the delay (Time Lock Controller) would potentially affect things and allow users to get out? Or am i misunderstanding ?
A Governor with a TimelockController will impose a delay on every proposal.