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