Valkyrie Protocol
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User Guide
SmartContract
Modify Governance Parameters
The Modify Governance Parameters poll types allows for the creation of polls that alter Valkyrie governance-related parameters.
In order for a poll to pass, the poll must reach the
Quorum and Vote Threshold. Quorum is the required minimum voter turnout for this poll, where more than Quorum portion of all staked VKR should have voted for this poll, whether the vote is yes or no. Vote Threshold is the required minimum percentage of yes votes required for the poll to pass.
Votes can be cast to a poll only during the Voting Period since poll creation. To prevent fluctuations in the total amount of staked VKR from affecting a poll's Quorum calculation, users can snapshot the the current amount of staked VKR for the poll. The snapshot can occur within a Snapshot Period time (number of blocks) window before the poll's end, where votes made within this period automatically trigger the snapshot. Quorum calculation for the poll is done using the snapshotted staked VKR amount and not the amount of staked VKR at the end of the poll.
Passed proposals that include a governance message (used to updated protocol parameters) require aTimelock Period of time before the included message can be executed. This is to give Valkyrie users enough to prepare for the changes introduced by the poll.
All poll submissions require a minimum VKR deposit of Proposal Deposit, used to prevent excessive poll creation. This deposit is returned to the poll submitter if the poll passes.
Genesis Values
Parameter Name
Value
Quorum
10%
Vote Threshold
50%
Voting Period
7 days
Snapshot Period
1 day
Execution delay Period
3 days
Proposal Deposit
100 VKR
Poll Format
Field
Description
Optionality
Title
Poll title
Required
Proposale Rationale
Short description of poll rationale
Required
External Link
External URL for further information
Optional
Quorum
Proposed minimum voter turnout required for a poll to pass
Optional
Vote Threshold
Proposed minimum percentage of yes votes required for a poll to pass
Optional
Voting Period
Proposed voting period for polls
Optional
Snapshot Period
Proposed time window before poll end in which the staked VKR amount can be snapshotted
Optional
Execution delay Period
Proposed time delay (number of blocks) required after a poll pass before executing changes
Optional
Proposal Deposit
Proposed minimum VKR deposit required for submitting a new poll
Optional
Last modified 7mo ago
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