Skip to content

Latest commit

 

History

History
72 lines (47 loc) · 3.43 KB

governance-game.md

File metadata and controls

72 lines (47 loc) · 3.43 KB
Raw

Governance Game

Hooks

There are three Hooks.

  • Registry – Handles host registrations, issuing registration tokens.
  • Heartbeat – Handles heartbeats and rewards.
  • Governance – Handles governance game.

The account associated with each hook remains constant, while the hooks themselves can be modified according to these rules.

Participants

There are two classes of participants in the Governance Game.

  • The Foundation: The Foundation always has 1 vote and has special rights in Piloted and Co-Piloted modes and has no special rights over Auto-Piloted mode.
  • Valid Hosts: Accounts that hold a registration token for the previous 3 continuous months and are not eligible to be pruned due to unreliability.

Governance

The Participant can submit a Proposal with new Hook hashes of above mentioned 3 Hooks. Once that Proposal is continuously supported by 80% of eligible Participants for 2 weeks, the existing hooks will be replaced by the proposed hooks.

Submitting a proposal

  • A Proposal represents the hashes <governance_hooks_hash><registry_hook_hash><heartbeat_hook_hash> of the new Hook to replace an existing Hook.
  • Any Participant can submit a Proposal for a new Hook.
  • Proposer must collateralize their Proposal with 1 Moment’s worth of EVR rewards.
  • The hooks which bear the proposed hashes must be deployed to some existing XRPL account.

Withdrawing a Proposal

  • The Proposer can withdraw their Proposal at any time before it Succeeds or Purges.
  • If the Proposal is withdrawn, the proposer gets half their EVRs back.
  • Lost EVRs are added to that Epoch’s reward pool.

Purging a Proposal

  • If a Proposal has not Succeeded three months after being proposed, it will be purged. If a Proposal expires, the Proposer loses all their staked EVRs.
  • Lost EVRs are added to that Epoch’s reward pool.

Voting

  • Hosts can make their choice of voting via Evernode-Cli.
  • Participant's vote is captured via their heartbeat, which is managed by Evernode software installed on the host.
  • They either Support or Reject a Proposal.
    • Reject is the default.
    • Support is a positive vote for the Proposal.

Electing a Proposal

  • A Proposal succeeds if it is continuously Supported by at least 80% of possible Participants for 2 weeks.
  • If a Proposal succeeds all other existing Proposals for that Hook are Purged and their staked EVRs are added to the Epoch’s reward pool.
  • The Proposer of the successful proposal gets all their staked EVRs back.

The Foundation Special Rights

  • These rules apply when determining the Foundation vote.

    • Always Eligible: Foundation is always eligible to vote.
    • Fall-Back Option: If there are no other eligible Participants, the Foundation vote is determinative.

  • In addition, the Foundation vote carries special weight depending upon the status of the game.

  • The Governance Game has three statuses.

    • Piloted: The Foundation vote determines the outcome of all Proposals.
    • Co-Piloted: No Proposal can succeed unless the Foundation Supports it and it fails if the Foundation opposes it.
    • Auto-Piloted: The standard voting rules apply with the Foundation being treated equally with any other Participant.

  • The game begins Piloted and becomes Co-Piloted at the election of the Foundation.

  • If it is Co-Piloted, it becomes Auto-Piloted at the election of the Foundation.

  • If the game is Auto-Piloted, Participants can vote under standard rules to return the game to Piloted or Co-Piloted Status.