Litentry
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Litentry

Litmus Governance: Make Decisions over the Litmus Network

1. Mechanism

Proposing

  • Referendum: each governance proposal is associated with a referendum, which is a stake-based voting scheme. The referendum has a 5-day period where voting happens, and a function call will be made if the vote is approved. The function call can switch out the entire code of the runtime, automatically fulfilling the proposal, achieving what otherwise would require a hard fork.

Voting

Tallying

2. Governance Working Groups

2.1 Council

  1. Controlling the treasury
  2. Proposing sensible motion
  3. Canceling uncontroversially dangerous or malicious referenda
  4. Electing the technical committee
  5. Electing new Council members

2.2 Technical Committee (TC)

2.3 LIT Token Holders (Public)

3. On-Chain and Off-chain Governance

3.1 On-Chain Governance

  • What you’ll need? 1) a Litmus Wallet and 2) some LIT. Jump to Section 4 for guidance if you’re unsure.
  • Once you’re ready, submit a proposal at Democracy on Polkadot.js.
  • Find the preimage hash that corresponds to the extrinsic call that you wish to make, depending on which section of code you are proposing changes to. You can find a preimage hash for a specific Extrinsic Call at Extrinsic.
  • Insert the Preimage Hash to your proposal.
  • Deposit 100 LIT tokens to submit your proposal. Also, check if you have sufficient balance to pay the gas fee (around 1 LIT per tx).
  • Once your proposal is submitted, head onto the Litmus Governance v1 and change the text description of your proposal. It’s important to write a strong rationale for others to endorse and support your proposal. If your proposal gets highly bonded support, it moves into a referendum.

3.2 Off-chain Governance

  • Tokenomics and slot auction campaigns
  • Project partnerships with Litentry products
  • External project incubation and onboarding to the Litmus parachain
  • Community growth strategies, events organization and technology avocation

4. LIT Token

Step 1: Get some LIT tokens

Step 2: Transfer LIT to Litmus

Step 3

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