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The intel exchange is a new concept. Time and experience will show how it can be improved. Already at launch, there are a host of interesting possibilities, questions, and problems that present themselves. How can intel verification be done on-chain? How can spam or spoofing be prevented? Are there other ways to match intel buyers and sellers than through bounties and auctions? How will auctions be implemented?
ARKM holders, who use the exchange and care about its future, are well-positioned to navigate these waters. ARKM puts exchange governance in their hands from the beginning. This is a critical part of exchange decentralization. ARKM holders can submit and approve Arkham Improvement Proposals (AIPs) to update the exchange’s smart contracts, alter exchange fees, and use ARKM allocated to the Arkham Foundation Treasury.
Exchange Smart Contracts: Improving the exchange’s on-chain implementation is the most important aspect of ARKM governance. The launch implementation is designed to be simple and effective so as to be secure and understandable. ARKM governance allows for complexity to be added as experience and reflection reveal opportunities for improvement.
Fees: AIPs may alter the size of exchange fees. At launch, these fees are set at 2.5% for makers (bounty posters and auction holders) and 5% for takers (bounty hunters and auction bidders).
Arkham Foundation Treasury: The Foundation Treasury unlocks over the course of 7 years following network launch. Its purpose is to advance the goals of the Arkham ecosystem. AIPs can propose how to use these funds, for example to fund projects tackling important problems like the intelligence oracle problem, to reward significant contributions, and to maintain the operation of the network.
Any address with at least 0.1% of the total ARKM supply owned or delegated is able to submit an Arkham Improvement Proposal (AIP) for the consideration of ARKM holders.
A proposal passes if 1) at least 7% of tokens vote in favor of a proposal and 2) there are at least twice as many votes in favor as against.
Proposals are put up for a voting period of 7 days. If a proposal has not passed by the end of the voting period, it is rejected.
Prior to submitting an AIP, an address may submit a Consultation outlining a potential proposal for feedback and discussion. The threshold for submitting a Consultation is 0.01%.