Submit Proposal

STEP 1: Colossus Forum Discussion

If you have an idea that you would like to propose for the governance system begin by joining our Forum and going to the budgets and governance section. Here you can talk about the idea and get feedback from the community before submitting a final proposal to the blockchain. Plan on having a discussion on the proposal for about a week or two which gives enough times for the community to give their input.

Following this step and gaining acceptance from the community should help increase your chances of the final proposal passing.

STEP 2: Final Proposal

This is arguably the most important step of the process.

First off, the final proposal should be posted on a platform with a permanent link, such as on our forums or a Google Docs form. This allows community members to view and access the proposal without the risk of it getting lost.

The final proposal should include the following subjects:

  • Title:
  • URL to proposal (use a URL shortening service if necessary):
  • Monthly payment:
  • Number of months / payments:
  • Description of who you are, your reputation, and experiences:
  • In-depth description of the proposal:

A recommended proposal template to use can be found here, which you can download and save to edit.

The description should explain why you are asking for the payment amount listed, how long the funding is required for, and how the Colossus community or ecosystem will improve by accepting the proposal. It should also describe every step of the planned process. The more information you include, the more likely it is that the proposal will be passed.

With the governance model, there needs to be a reasonable amount of trust that the proposed work will actually be completed if the proposal is passed. If you are a brand new member, consider starting with a small proposal first. This may help to improve your credibility and ability to deliver on time and budget.

STEP 3: Submit Proposal to the Blockchain

The submission window closes 4320 blocks (about 3 days) before the superblock. To give the masternode operators enough time to view the proposal, make a decision, and vote on it, you should submit it well in advance of the voting deadline. Remember that it is much better to wait for the next superblock than to rush it.

At this stage, there is a fee of 25000 COLX required to send in a proposal – the submission fee. This is paid whether the proposal is accepted or not, but can be included in the proposed payment amount, which will then be reimbursed upon acceptance of the proposal.

The submission fee helps to prevent the spamming of empty proposals, limiting it only to those which are well thought out and contribute to the COLX ecosystem.

To submit the proposal, follow the steps below:

  • Go to Tools>Debug console
  • To get the next superblock (starting block), type:

mnbudget nextblock

The block heights and approximate dates of future superblocks can also be seen below:

Block Height Estimated Date Timestamp UNIX
432000 Monday 30 Jul 2018 9:30:00 UTC 1532943000
475200 Wednesday 29 Aug 2018 9:30:00 UTC 1535535000
518400 Friday 28 Sep 2018 9:30:00 UTC 1538127000
561600 Sunday 28 Oct 2018 9:30:00 UTC 1540719000
604800 Tuesday 27 Nov 2018 9:30:00 UTC 1543311000
648000 Thursday 27 Dec 2018 9:30:00 UTC 1545903000
691200 Saturday 26 Jan 2019 9:30:00 UTC 1548495000
734400 Monday 25 Feb 2019 9:30:00 UTC 1551087000
777600 Wednesday 27 Mar 2019 9:30:00 UTC 1553679000
820800 Friday 26 Apr 2019 9:30:00 UTC 1556271000
864000 Sunday 26 May 2019 9:30:00 UTC 1558863000
907200 Tuesday 25 Jun 2019 9:30:00 UTC 1561455000
950400 Thursday 25 Jul 2019 9:30:00 UTC 1564047000
993600 Saturday 24 Aug 2019 9:30:00 UTC 1566639000
1036800 Monday 23 Sep 2019 9:30:00 UTC 1569231000
1080000 Wednesday 23 Oct 2019 9:30:00 UTC 1571823000
1123200 Friday 22 Nov 2019 9:30:00 UTC 1574415000
1166400 Sunday 22 Dec 2019 9:30:00 UTC 1577007000
1209600 Tuesday 21 Jan 2020 9:30:00 UTC 1579599000
1252800 Thursday 20 Feb 2020 9:30:00 UTC 1582191000
1296000 Saturday 21 Mar 2020 9:30:00 UTC 1584783000
1339200 Monday 20 Apr 2020 9:30:00 UTC 1587375000
1382400 Wednesday 20 May 2020 9:30:00 UTC 1589967000
1425600 Friday 19 Jun 2020 9:30:00 UTC 1592559000
1468800 Sunday 19 Jul 2020 9:30:00 UTC 1595151000
1512000 Tuesday 18 Aug 2020 9:30:00 UTC 1597743000
1555200 Thursday 17 Sep 2020 9:30:00 UTC 1600335000
1598400 Saturday 17 Oct 2020 9:30:00 UTC 1602927000
1641600 Monday 16 Nov 2020 9:30:00 UTC 1605519000
1684800 Wednesday 16 Dec 2020 9:30:00 UTC 1608111000
1728000 Friday 15 Jan 2021 9:30:00 UTC 1610703000
1771200 Sunday 14 Feb 2021 9:30:00 UTC 1613295000
1814400 Tuesday 16 Mar 2021 9:30:00 UTC 1615887000
1857600 Thursday 15 Apr 2021 9:30:00 UTC 1618479000
1900800 Saturday 15 May 2021 9:30:00 UTC 1621071000
1944000 Monday 14 Jun 2021 9:30:00 UTC 1623663000
1987200 Wednesday 14 Jul 2021 9:30:00 UTC 1626255000
2030400 Friday 13 Aug 2021 9:30:00 UTC 1628847000
2073600 Sunday 12 Sep 2021 9:30:00 UTC 1631439000
2116800 Tuesday 12 Oct 2021 9:30:00 UTC 1634031000
2160000 Thursday 11 Nov 2021 9:30:00 UTC 1636623000
2203200 Saturday 11 Dec 2021 9:30:00 UTC 1639215000
2246400 Monday 10 Jan 2022 9:30:00 UTC 1641807000
2289600 Wednesday 9 Feb 2022 9:30:00 UTC 1644399000
2332800 Friday 11 Mar 2022 9:30:00 UTC 1646991000
2376000 Sunday 10 Apr 2022 9:30:00 UTC 1649583000
2419200 Tuesday 10 May 2022 9:30:00 UTC 1652175000
2462400 Thursday 9 Jun 2022 9:30:00 UTC 1654767000
2505600 Saturday 9 Jul 2022 9:30:00 UTC 1657359000
2548800 Monday 8 Aug 2022 9:30:00 UTC 1659951000
2592000 Wednesday 7 Sep 2022 9:30:00 UTC 1662543000
  • After recording the starting block, type:

mnbudget prepare <name of proposal> <URL to proposal info> <number of months> <starting block> <payment address> <monthly payment amount>

…where each item in <>is filled out with the correct information. For example:

mnbudget prepare Name https://forum.colossusxt.io 3 172800 DMMEmGXascit3EgEX6fwQo3FqwTkxLeJ2r 25

This is when the 50 COLX activation fee will be deducted from your wallet and be burned. You should also receive a hash from this preparation step, which will be used in the next step.

  • After the Proposal FeeTX has 6 confirmations, in the console, type:

mnbudget submit <name of proposal> <URL to proposal info> <number of months> <starting block> <payment address> <monthly payment amount> <preparation hash>

Once this is done, the proposal hash is created, which will be used for the voting process.

STEP 4: Gather Community Support

Once the proposal is submitted, you can then verify it on https://governance.colossusxt.io/ (it could take a few minutes to update). Information on how to vote for each proposal can be found in the information button.

It is your job to rally the community to vote for your proposal, which includes telling people when the proposal is running, how to vote, and posting on any media to gather more votes. The COLX team will not help with this aspect (unless it is a team member submission), as it could be seen as unfair or biased.

The ability to pass the current and future proposals depends largely on your ability to both communicate effectively, and deliver on the proposed work. To increase your chances of success, consider linking your work to a website, adding a video, or being available on social media channels to answer any questions that others may have.

STEP 5: Wait for Voting to Finish

A proposal will be passed if the number of Yes votes minus the number of No votes exceeds 10% of the total available votes. The total available votes is the number of active and online masternodes on the network, as seen in the command:

masternode count

At this point, there is one more fee that needs to be paid – the activation fee. This fee will only be paid in the case that the proposal is accepted, but again, can be included in the payment amount for reimbursement.

The activation is paid to a developer address, which is needed to submit the proposal into the system. This fee is not a personal payment to the developer, as the 25000 COLX fee is also burned upon the activation process.

Since there are a limited amount of budgeting funds set aside every month, every proposal will be competing for these funds. Even in the case that your proposal does well in the voting, there is a chance it could be outperformed by another proposal. After making it through this process, payment will be made on the superblock(s) listed in the proposal.