On-chain Voting Information
After a proposal has been created on-chain it is subject to a Timelock Duration, Voting Periods, and Quorums. The initial governance (GSC, voting, delegation, etc) parameters can be found below.
Important Note: All parameters described below may be changed by the governance community through a proposal and vote.
Governance Parameters
| Parameter | Short Description | Value / Voting Power | % of Total Voting Power |
|---|---|---|---|
Quorum | The required minimum number of voting power in support of a proposal for it to succeed. | 1.1 million | 1.1 million |
Proposal threshold | The amount of voting power needed to submit a governance proposal on-chain. | 55 thousand | 0.45% (1/20th of Quorum) |
Timelock Duration | The timelock is a speed bump for calls. It requires calls to wait for a defined period before they can be executed. After a call is registered, the call can be removed during the waiting period, and an authorized address can extend the waiting period only once. | 604800 seconds | N/a |
Voting Period | The total voting period in which votes can be cast. [Minimum voting period][extra voting period] is the layout of the total time for voting. | 51968 blocks (~8 days) | |
Minimum Voting Period | The minimum time before a vote can be executed. | 19488 blocks (~3 days) | N/a |
Extra Voting Period | The time beyond the minimum time period in which votes can be cast. | 32480 blocks (~5 days) | N/a |
Vesting Vault Token Multiplier | The multiplier for voting power on the vesting vault. The vesting vault allows locked / vesting positions to still have voting power in the governance system and does so by using a defined multiplier for the vested tokens over unvested. | 5% | N/a |
GSC-Only Parameters
| Parameter | Short Description | Value | % of Total Voting Power |
|---|---|---|---|
GSC Proposal Threshold | The amount of GSC members needed to propose a GSC vote on-chain. | 1 | Undetermined |
GSC Delegation Threshold | A threshold of delegated voting power, giving delegates a seat on the GSC. This comes with additional governance powers within the system, and as a result, additional responsibilities. | 110 thousand | 0.90% (1/10th of Quorum) |
GSC Quorum | The required minimum number of GSC members needed to support a proposal for it to succeed. | 3 | N/a |
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