Hi everyone! Enigma’s core team just released a blog post about governance. As you might already know, our community of node operators launched a network built with Cosmos SDK and implemented this gov module for making decisions collectively. All are welcome to participate!
Users make proposals to the Enigma network by submitting text with a deposit. Others may deposit SCRT during this 1-week period. If the minimum deposit (1000 SCRT) is reached, the voting period will begin. There are four types of votes:
NoWithVeto is like a stronger
No vote including veto power. This enables a minority to reject majority rule if more than 33.4% of the participating tokens vetoed the decision.
Abstain option allows voters to signal that they do not intend to vote in favor or against the proposal but accept the result of the vote.
Deposits can be recovered if the proposal never entered a voting period or if it was rejected without a veto. When a proposal is vetoed, deposits are burned.
- Deposit Period: 1 week
- Voting Period: 1 week
- Minimum Deposit: 1000 SCRT
- Quorum: 33.4%
- Threshold: 50%
- Veto: 33.4%
In addition to on-chain governance mechanisms, our community has explored various DAO frameworks, and we are planning further experiments with a decentralized autonomous organization called Secret DAO. Transparency and inclusivity help interconnected projects drive progress through collaboration. Ultimately, cooperation and trust are necessary for sustainability.
Although it is technically not part of the Enigma Chain, Secret DAO may help coordinate proposals. This community governance system can be a flexible layer of reputation-weighted or democratic voting (unrelated to protocol governance). Read more and join Secret DAO!
Joining the Cosmos ecosystem brings Enigma closer to supporting multiple blockchains, including Ethereum. There is a universal need for privacy! Our team is looking forward to participating in the Cosmos Governance Working Group, learning more, and possibly working towards future improvements.
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