Process

The governance process is powered by forums and formalized through PIA Improvement Proposals (PIPs). Here are the phases for a PIP in the PIA Governance Process 1.0:

Phase 1: Community Discussion An informal discussion about potential improvements to the PIA platform begins on the PIA Governance Forum. One or more community members decide to propose changes.

Phase 2: Proposal Creation Proposers who hold at least 5 million $PIA create a PIP using the standard template provided on the PIA Governance Forum.

Phase 3: Community Q&A The PIP is made available for the community to review and ask questions. The proposers set the Q&A period, which can last between 2 to 7 days.

Phase 4: Scheduling Snapshot Vote The proposers schedule a date and time for voting. The voting period, or snapshot vote, can last between 1 to 3 days.

Phase 5: Snapshot Vote Community members vote on the PIP. Votes can only be cast in favor or against the proposal.

Phase 6: Execution If the PIP receives more than 51% approval and at least 5% of the circulating $PIA tokens are used in the vote, it is approved and moves to the execution phase. The PIA Protocol team will implement the changes specified in the PIP within 30 days. If more time is needed, the team must issue an official statement explaining the delay. If the PIP fails to gain enough votes or is rejected, it is marked as rejected, concluding the governance process.