Introduction to Governance
Governance exists for the community of token holders validator nodes to decide on key issues involving the blockchain and its development. This is achieved by proposing items of business to be voted on by the token holders.
There are four forms of governance proposal:
- Text proposal - this type of proposal is text only. The outcome is not automatically implemented and may require actions by third parties to implement.
- The community spends - the outcome of this type of proposal will be the transfer of funds from the community pool to the address and for the amount nominated in the proposal.
- Parameter change - the outcome of this proposal will be modified blockchain parameters by the proposal submission.
- Software upgrade - the outcome of this proposal will be validators and node operators undertaking a coordinated software upgrade at the block height specified in the proposal.
To migrate SIX from other networks onto the SIX Protocol Chain, SIX Protocol will be using the collectorate address to lock SIX tokens instead of burning them. This means that the same number of SIX locked will be minted on the SIX Protocol Chain.
Please refer to this collectorate address:
GC47FQ2LABAXPUULKXX23OAIEAN7GSWMUOYAEHGGXPG5DV4MLIL2OUJC
Last modified 11mo ago