Governance¶
Overview¶
On-chain governance is useful for controlling system parameters, authorizing trusted oracles and upgrading the core protocols. The architecture adopted by the interBTC parachain is modelled on Polkadot, which allows for a Council and Technical Committee to propose referenda which are voted on by INTR holders.
Parameters (Council)¶
Parameters (Voting)¶
EnactmentPeriod¶
The period to wait before any approved change is enforced.
Note
Default Value: 1 Day
LaunchPeriod¶
The interval after which to process a new referenda from the queue.
Note
Default Value: 2 Days
VotingPeriod¶
The period to allow new votes for a proposal or referenda (Council).
Note
Default Value: 2 Days
FastTrackVotingPeriod¶
The period to allow new votes for a proposal or referenda (Technical Committee).
Note
Default Value: 3 Hours
CooloffPeriod¶
The period that a vetoed proposal may not be re-submitted.
Note
Default Value: 7 Days
Parameters (Turnout)¶
ExternalOrigin¶
Schedules next referendum with super-majority approval.
Note
Default Value: Half Council
ExternalMajorityOrigin¶
Schedules next referendum with simple-majority approval.
Note
Default Value: Half Council
ExternalDefaultOrigin¶
Schedules next referendum with super-majority against.
Note
Default Value: All Council
FastTrackOrigin¶
Schedules ExternalMajority / ExternalDefault vote.
Note
Default Value: Two Thirds Technical Committee