An Introduction to Governance
Governance is now live
The governance functions of the Edge Network are open for anyone with an active governance stake.
Governance stakes are locked for a 12 month period. Governance stakeholders have the ability to both create and vote upon proposals, as well as comment on existing proposals. Every action in governance carries a small cost in $XE. These measures are designed to keep the quality of the submissions high.
Proposals will require certain majorities in order to be passed. DAO members have a collective right to veto or to propose amendments to proposals.
Governance is advisory, with members of the DAO holding the right to veto
Minimum participation, or quorum, is the minimum level of participation required for a vote to be valid. To achieve quorum for a proposal, 5% of the total voting power needs to participate in a vote. The pass rate for proposals is set is 50%, meaning that a simple majority is needed in the case of a yes/no vote.
The voting period for proposals is 7 days by default. In some circumstances this can be extended.
The growth fund in the network is a meaningful and growing allocation of $XE that is set aside for the advancement of the network. The growth fund can be used for items such as marketing, exchange listings, community rewards and for the funding of projects produced by thrid party teams. The use of the growth fund is under the direct control of network governance.