Creation and Debate of EIPs

1. Proposal Submission:

   • Any token holder can submit an EIP by creating a detailed document that outlines the rationale, technical implementation, benefits, and potential risks associated with the proposed change.

   • The proposal must be submitted via the official Brilliant Diamond Exchange format and comply with the submission guidelines to ensure consistency and quality.

2. Community Debate:

   • Once an EIP is submitted, it is published on the Brilliant Diamond Exchange's Telegram channel for open debate and discussion among the community.

   • This period allows for feedback, questions, and suggestions from other community members, which the proposal author can incorporate to refine and improve the EIP.

   • The debate phase is crucial for vetting the viability and desirability of the proposal through community engagement.

On-Chain Voting

1. Transition to On-Chain Voting:

   • Following the community debate period, the revised and finalized EIP transitions to on-chain voting, where token holders vote to accept or reject the proposal.

   • This voting is conducted via the Brilliant Diamond Exchange's blockchain platform, ensuring transparency and security in the decision-making process.

2. Voting Requirements and Quorum:

   • Pre-SAFT 1: A quorum of 15% of the total token supply is required for a vote to be valid, ensuring that a significant portion of the community is involved in early governance decisions.

   • Post-SAFT 1: The required quorum increases to 19% following the first SAFT, reflecting the increased distribution and stakeholder base.

   • Post-SAFT 2: After the second SAFT, the quorum further increases to 20%, establishing a more substantial community consensus for passing proposals.

Implementation of Successful EIPs

• Approval and Implementation:

  • If an EIP achieves the necessary quorum and a majority vote in favor, it is approved and moves to the implementation phase.

  • The development team at the Brilliant Diamond Exchange then works to integrate the changes into the exchange, guided by the technical specifications and timelines outlined in the EIP.

• Monitoring and Evaluation:

  • Post-implementation, the effects of the EIP are monitored against the expected outcomes stated in the proposal.

  • This evaluation helps in assessing the impact of the EIP and informing future proposals.

Conclusion

EIPs are a foundational aspect of governance at the Brilliant Diamond Exchange, ensuring that the platform remains adaptive, community-driven, and transparent. Through the structured process of creation, debate, voting, and implementation, EIPs foster continual improvement and refinement of the exchange's operations and services.