Governance
Empowering $BSX token holders to shape the BSX Exchange ecosystem.
BSX governance gives $BSX token holders a direct say in the platform’s future. Built on Base, this system lets the community guide BSX Exchange—a decentralized trading hub for perps and spot markets.
Overview
Token Rights
Stake $BSX to receive svBSX and gain governance powers based on your balance. svBSX comes with two key rights:
Proposal Right: Create new proposals to change the protocol.
Voting Right: Vote on existing proposals to approve or reject them.
Delegation
Holders can delegate one or both rights to others. This lets less active users pass their power to trusted members, keeping governance efficient without off-chain risks.
BIPs (BSX Improvement Proposals)
A BIP is any proposal affecting the protocol, treasury, or governance. Each BIP needs:
Simple Summary: A plain explanation for anyone to understand.
Abstract: A short overview of the proposal.
Motivation: Why the change matters and what’s wrong now.
Specification: Details on how it works.
Rationale: Why this design beats alternatives.
Test Cases: Proof for code changes (not needed for treasury moves).
Copyright Waiver: All BIPs are public domain.
Architect
Current Parameters
BSX Governance Parameters as of April 1, 2025
Category
Component
Comment
Status
Discussion
Forum Discussion Period
Minimum 7 days
Guidance
Voting
Governance Token
$BSX Stake to svBSX for voting power
Official
Voting
Delegated Voting
Enabled for Delegate All only. Holders must delegate before voting (can delegate to themselves).
Official
Voting
Snapshot Strategy
1 svBSX = 2.5 vote weight
Official
Voting
Proposal Threshold
50,000 svBSX
Official
Voting
Vote Duration
Minimum 7 days
Official
Voting
Vote Threshold (Quorum)
10,000,000 svBSX
Official
Definitions and Details
Discussions (Discourse Forum)
The designated place to discuss the BSX governance is https://forum.bsx.exchange/ (placeholder URL). Any community member can draft a soft proposal or start a discussion that could lead to an official BSX Governance vote. These act as a quick check of interest but don’t guarantee action.
Governance Module (Snapshot)
The official voting tool is Snapshot, found at https://snapshot.org/#/bsx.eth. Snapshot keeps governance off-chain, simple, and transparent. It’s a trusted platform used by projects like Uniswap, Aave, and Balancer. Results don’t execute automatically—core contributors or the community handle next steps.
Governance Token ($BSX)
The governance token is $BSX, staked as svBSX on Base. Stake your $BSX to get svBSX and unlock voting and proposal rights.
Snapshot Vote Strategy
Vote weight comes from your svBSX balance. 1 $BSX equals 1 vote and 1 svBSX equals 2.5 vote, Staking give 2.5x boost on voting power. Changes to this strategy need governance approval.
Snapshot Proposal Threshold
You need at least 1,000,000 svBSX in delegated power to create a proposal. This limit stops spam and ensures serious ideas move forward.
Snapshot Vote Duration
Voting lasts at least 7 days, from start to finish. This gives svBSX holders time to weigh in on each BIP (BSX Improvement Proposals).
Snapshot Vote Threshold / Quorum
A proposal needs 10,000,000 votes in for-votes to pass, even if most voters agree. This quorum ensures broad support for changes.
Implementation
BSX Governance runs mostly off-chain. Discussions start on the forum, led by core contributors or community members. Ideas with traction become formal BIPs, voted on by svBSX holders via Snapshot. Approved BIPs move to execution—core contributors or the community implement them based on the proposal’s terms. This off-chain process means votes don’t directly update code or treasury actions; people make it happen.
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