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Introduce Governance module #8519

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shuse2 opened this issue May 31, 2023 · 0 comments
Open
6 of 12 tasks

Introduce Governance module #8519

shuse2 opened this issue May 31, 2023 · 0 comments
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shuse2 commented May 31, 2023

LIP

Introduce Governance module

Motivation

The goal of the Governance module is twofold. The prime motivation is to allow a community to influence the future direction and development of a PoS chain running the module. Currently, there is no natural decentralized way for a team or a project to receive funding support. The Governance module adds a financial incentive to improve the ecosystem while leaving the control in the hands of the public: a funding proposal can authorize a token transfer from the governance treasury. Additionally, the Governance module allows the community to influence the development by democratically voting on any project-related issue: any user can submit a universal proposal. This enables the community to identify important discussion points and bring them to public attention.

The second goal of the Governance module is to alleviate hardforks in case when only modifiable parameters are changed. If a consensus is reached, the stakeholders can change the value of a modifiable parameter without a hardfork. This greatly simplifies tuning sensitive constants, for example tokenomics-related parameters, while putting community in control of the changes.

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