Report Update Proposal (RUP) Overview
This process only applies to raters with more than 50 RXPs
Context
This process addresses the need to frequently update already-rated projects, to improve Prime Rating's efficiency as well as accuracy of the scores. Additionally, it will give analysts the possibility to update their own reports and thus creating an incentivize to stay on top of what is going on in the protocols they rated.
What is a RUP?
A RUP (Report Update Proposal) is a proposal to accept an updated version of an existing report, into the overall rating score. The process is similar to a RAP, the difference is that a RUP concerns a report that was already accepted via a RAP.
Proposing a RUP - Qualification
RUP allows raters to update their own reports
The report can be updated once every quarter, or after an event of high significance directly impacting the protocol (e.g. an exploit, new release, other significant updates)
Raters are required to update every section of the report. If there was a significant change in only one area, other section can be commented with "no updates"
To facilitate the review process, analysts are asked to highlight all changes in the document (e.g. via use of background coloring)
Standard rewards are 50% of a new report (min. $75 USDC, 100 $D2D, 5 RXP)
For submitting a RUP the latest RAP Template version is used (changing the title to RUP)
Analysts need a minimum of 50 RXPs to submit a RUP. This rule is in place to support our committed raters and ensure a high quality standard
Like for normal reports RUPs are eligible for Season and Rate-athon rewards
The RUP Lifecycle
The following steps are required to initiate and effectively queue a vote (same as RAP):
Submission of a report via Typeform and notification of governor via the ⤴│submit-report channel in Discord
A governor will check the report for formatting and upload it to IPFS, and for voting onto Snapshot. Make sure that the RUP uses the latest version of the RAP Template. This typically takes place within two days of submission
After adding it to Snapshot, the governor will inform the other governors to vote
A RUP is queued on Snapshot and runs for 72 hours
Once the vote has passed, the updated report is added to the rating webpage
Voting Specifications
Token used to vote: RXP (Rating Experience Points)
Eligible to vote: Minimum of 200 RXP required to participate in vote
Quorum: At least one Governor accepting the report (i.e. 200 RXP)
Pass: 50.1% of participating votes need to vote FOR, for a proposal to pass
Voting: can happen all year round
Last updated