Razor Network Governance Beta: Network Parameters
Building upon last week’s Governance Beta announcement, we are thrilled to introduce an update to the governance model that aims to fine-tune Razor Network Oracle network parameters. This will allow for an even more adaptive and robust decision-making process driven by our community.
Participate in Governance Beta
To participate in Governance Beta, access the Razor Network governance portal on the vote.razor.network. Remember, to vote, you need to hold one of the following:
- $RAZOR tokens on Ethereum/Polygon Mainnet
- $sRZR (staked $RAZOR tokens) on Razor SKALE Chain.
NOTE: If you are a delegator on Razor Network, you must vote on governance yourself. Your delegated staker can not vote on your behalf as of now.
How to update Razor Network parameters through a governance proposal
- Start by visiting the parameters repository. From there, fork the repository to your own GitHub account.
- Navigate to the mainnet/parameters.json file in your forked repo. Update the necessary parameters according to the guidelines provided in CONTRIBUTING.md. Once you’ve made the changes, initiate a pull request (PR) to the main branch of the original repository.
- Upon creating the PR, the suggested changes to the parameters will be available for open discussion and review in the GitHub discussion. Community members can provide feedback and vote on the proposal. The final decision to update the governance parameters will be determined through a voting process on snapshot.
- If your proposal secures the necessary votes within the allocated deadline, the parameters changed will be incorporated, and your PR will be merged into the main branch. On the other hand, if the proposal fails to gather the required votes within the deadline, the PR will be closed without merging, and the parameters will remain unchanged.
All the current values of governance parameters can be found here.
This is an exciting opportunity for Razor Network. By working together, we can improve our network’s resilience and build a stronger decentralized future.
About Razor Network
Razor Network is a blockchain-agnostic, truly decentralized oracle platform designed to meet the diverse requirements of Decentralized Finance. At Razor Network, we are creating the next-generation oracle system focusing on maximum game-theoretical security and fully permissionless complete decentralization. Razor price feeds are live on the SKALE blockchain and are free to use in your dApps; contact us if you need any assistance using Razor’s price feeds.
