Governance Process
Phase 1: Request for Comment (RFC)
The purpose of the Request for Comment is to allow the community time to digest a proposal, comment, and ask questions about a particular proposal.
Timeframe: Minimum 7 days
Format: Governance Forum Post labelled "RFC - [Title]"
Purpose: Community discussion and feedback
Requirements:
Clear proposal description
Impact analysis
Implementation details
Community feedback period
Phase 2: Governance Proposal
Phase 2 is the final step of the governance process. If this vote passes, then a change will be enacted on-chain.
Timeframe: Total 11 days
2 day waiting period
7 day voting period
2 day timelock
Format: On-chain proposal
Quorum: 50M staked LOCKS
Delegation: Proposer needs 5M staked LOCKS delegated
Requirements:
Professional code audit for technical changes
Forum post labelled "Governance Proposal [GP###] - [Title]"
Links to previous phases and audit reports
Executable on-chain code
Majority vote with quorum for passage
Note that the governance contracts can be called at any time meeting the on chain requirements, it is the best practice that proposals follow the 2 phase process where they are not a simple contract call execution.
Voting Interfaces
Official voting can be conducted through:
Process Modifications
Changes to this governance process require:
Full three-phase process completion
7-day voting period
50M staked LOCKS quorum requirement
5M staked LOCKS delegation requirement
Majority approval
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