Governance process
Proposals
To submit a governance proposal, proposers need at least 0.5% of CTRL tokens delegated to them. This is to prevent spamming.
Common types of proposals include:
Parameter Change: Adjust protocol parameters.
Add Tab: Create a new Tab currency, giving it a name and pegging it to Bitcoin or a fiat currency.
Freeze Tab: Temporarily disable all operations for a Tab currency to protect it from potential threats.
Unfreeze Tab: Re-enable a frozen Tab currency once the threat is resolved.
Add Oracle: Approve a new price oracle for the protocol.
Remove Oracle: Remove an existing price oracle.
Add Reserve: Accept a new wrapped/bridged ERC-20 representation of Bitcoin as reserves.
Remove Reserve: Remove an existing wrapped/bridged ERC-20 representation of Bitcoin from reserves.
Ctrl+Alt+Del: De-peg a Tab from its fiat currency.
Voting
After a proposal is submitted, there is a 2-day review period. Then, a 3-day voting period begins.
During this time, delegates can vote:
Yes: In favor of the proposal.
No: Against the proposal.
Abstain: Neither for nor against, but the vote counts towards the quorum.
For a proposal to be accepted, it must meet these conditions:
Quorum: A minimum level of voter participation.
Threshold: A majority of votes must be in favor.
If accepted, the proposal is placed in a timelock for 2 days before it can be implemented.
Execution
Smart contracts manage the voting process. Each proposal has a Proposal Contract with specific actions. Once a proposal is accepted, the proposer can execute it after the timelock, and the changes are automatically applied by the proposal handler.
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