Enigma Governance Discussion

Secret Governance
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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!

Read: Introduction to Enigma Governance

Summary

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: Yes, No, NoWithVeto, and Abstain.

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.

The 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.

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Parameters

  • Deposit Period: 1 week
  • Voting Period: 1 week
  • Minimum Deposit: 1000 SCRT
  • Quorum: 33.4%
  • Threshold: 50%
  • Veto: 33.4%

Secret DAO

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!

Interoperability

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.

:artificial_satellite: :rocket: :flying_saucer:

Your feedback is much appreciated!

Please share any ideas or questions :blush:

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Hi @jlwaugh, Do you consider using IBC protocol communication with Ethermint to support Ethereum?
Or, does Cosmos ecosystem have other functions to get interoperability with Ethereum?

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@vitocchi we are closely following up the progress of IBC and joining their bi-weekly calls. There’s also an effort to generalize Peggy (which is currently used for token locking / unlocking) to any kind of message transfer in the new version.

As mentioned the primary goal is to enable secret contracts on our blockchain. We’ll also be evaluating the two options along the way

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Thank you, @can. I’ll look into Peggy (GitHub repo: https://github.com/cosmos/peggy).