Introducing Babylon Governor

🏛️ Babylon Governor Overview

We’ve taken the next step in our process of progressive decentralization by deploying our on-chain governance module, Babylon Governor.

Starting today, the communities that use Babylon to invest in DeFi together can begin to take over governance of the protocol.

Babylon Governor enables anyone who holds $BABL, Babylon’s governance token, to submit proposals and vote on protocol-level decisions, beginning with treasury management.

The treasury receives 5% of profits and 0.5% of capital allocated through Babylon. 69% of the total supply of $BABL is reserved for the community and we expect the first governance proposals to be submitted in the coming weeks to allocate treasury capital to the benefit of the protocol and its users.

Babylon Governor marks the first mainnet deployment of Open Zeppelin’s Governor. The contract is compatible with Governor Alpha and Bravo, and we are using Tally to provide a simple user interface to delegate votes, create proposals, and cast votes on proposals.

🔄 Governance Process

• New proposals are discussed in a dedicated Discord channel
• Discord and/or Snapshot (to be added later) is used for signal voting on proposals
• Proposals (with code) are submitted to Babylon Governor and voted on with Tally

💻 Governor Parameters

• Voting delay (time from proposal submission to start of voting period): 1 block
• Voting period: 1 week
• Quorum: 40,000 $BABL (4% of supply)
• Proposal threshold ($BABL required to submit proposal): 5,000 $BABL (0.5% of supply)

🧑‍⚖️ Help Govern Babylon

If you’re interested in participating in Babylon governance, please join our Discord and watch for announcements about new proposals.

If you haven’t had a chance to use Babylon yet, please join the waitlist to request access to our private Beta and help us build a better way for communities to invest in (and govern) DeFi together.

🌴 Sign up for beta waitlist: http://babylon.finance

🌴 Join us in Discord: https://discord.gg/ZqUrdYvt5e