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On chain voting
On-chain governance is based on the Open Zeppelin Governor contract, which allows for on-chain voting similar to Compound’s Governor Alpha & Bravo.
The voting power of each account in the Auxo governance setup is determined by the balance of the Active Rewards Vault (ARV). ARV is a non-transferable token which implements
ERC20Votes extension and keeps track of historical balances.The Auxo Governor implements the following parameters:
Voting Delay: 13140 blocks (~= 44 hours)
The delay between a proposal being created and it being able to be voted on, in blocks
Voting Period: 50000 blocks (~= 7days)
The duration of a vote in blocks
Proposal Threshold: 10000 ARV
Minimum amount of ARV that must be delegated to a wallet before it can create a new proposal. Users can either self delegate or pool voting power by delegating to a representative.
Quorum: 5%
Minimum percentage of total ARV tokens that must participate in a vote for it to be considered valid.
The governance setup implements
GovernorTimelockControl that binds the execution process to an instance of TimelockController. Practically speaking, this adds a delay to all successful proposals in addition to the voting duration.The Timelock implements the following parameters:
Timelock Delay: 1 days
Delay between vote passing and ability to execute through timelock controller.
Timelock Admin: 0x6458A23B020f489651f2777Bd849ddEd34DfCcd2
Admin can circumvent gov delays on the timelock, useful in post-deploy operations.
Timelock Executor:
0x0000000000000000000000000000000000000000 (Anyone)
Who can call execute() on the timelock controllerLast modified 7mo ago