Shogun Governance
Development of Shogun Protocol is driven by the Shogun community through a democratic governance. Shogun governance is configured to be the sole authority allowed to propose protocol changes or upgrades.
Following the initial deployment of Shogun smart contracts (open-sourced), the Shogun Gov contract is set as the owner of all Shogun Protocol contracts. Further modifications and improvements to Shogun contracts can only always be made through the governance poll creation process. Users may interact directly with Shogun Governance smart contract to create governance polls or proposals.
Current Governance Model
Shogun is ultimately governed upgraded by its community, via Shogun governance which is fully powered by vxSHO holders. At this time, only proposals posted to Shogun Governance is either by the team or the proposals inspected by the team. Major structual changes or use of treasury will always going to be voted on by the community which guarantee full transparancy.
When a governance proposal is created, it enters a 2 day pending period, after which voting weights are recorded and voting begins. Voting lasts for 3 days; if a majority, and at least 8% of total vxSHO votes are cast for the proposal, it is queued in the Timelock which is going to be excuted 2+ days later. The timelock period might takes more than 2 days since it depends on the size and complexity of upgrade. Once the proposal is executed successfully, team will inform the community.
Poll rules
vxSHO is used to represent vote rights and can be redeemed via xSHO staking, and if any of xSHO is unstacked, all proposal vote participation of the user will be invalidated.
vxSHO can only be voted in integer units.
When proposing a proposal, the amount of SHO that must be held in the wallet is 170,000 SHO. The proposal registration is made by the team, and the proposal proposed by a user may be rejected due to technical issues regarding its proposal.
The amount of SHO required when proposing proposals is 0 and may be changed in the future. All SHO used in the proposal will be burned.
The main content of the proposal must be at least 500 characters and must be written in English only.
Voting rights (vxSHO) to participate in each proposal are available for 3 days until the voting is completed, and if any xSHO unstaking happens,all proposal vote participation of the user will be invalidated.
If the voting is invalidated through xSHO unstaking after the vote, re-voting is not possible.
Quorum is calculated based on the last vote or invalidation transaction(caused by xSHO unstaking) before the proposal deadline.
The criteria for passing a vote are as follows. If the total number of voters is above the minimum participation standard, and more than a majority of the total voters agree.
The criteria for rejecting a vote are as follows. In the case of participating less than the minimum number of voting rights until the end of the voting period (3 days) In a case where a majority of all voters do not approve at the end of the voting period
After the vote is over, if the proposal is passed, the proposal will be executed at least after a two-day time lock period. If this is not just a simple parameter change, but a structural change that requires a contract upgrade, it may take more than two days. When the proposal is executed successfully, the community will be notified.
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