In the world of blockchain, governance is a crucial aspect, allowing currency holders to participate in the decision-making process and shape the future of the network. This article will delve into the governance process of the Sei blockchain, including how to vote, view voting results, proposal schedule, voting options and other key information to help users better understand and participate in the process.
Governance overview
The Sei blockchain’s governance mechanism allows currency holders to propose, discuss, and vote on changes to the network. This decentralized approach ensures that the community has a say in important decisions, maintaining the integrity of the network and maintaining alignment with the interests of participants.
Proposal Timeline: The governance process follows a structured timeline to ensure that each proposal is fully discussed and considered. The specific process is as follows:
Proposal Submission: Any user can submit a proposal by paying a deposit.
Deposit Period: The community has a specific time period to add a deposit to a proposal. If the minimum deposit threshold is reached, the proposal will enter the voting stage.
Voting period: Once the deposit period is over, the proposal enters the voting stage and token holders can start voting.
Results Period: After the voting closes, the results will be tallied and the outcome determined.
voting options
When a proposal enters the voting period, token holders have several voting options:
Agree (Yes): Agree with the proposal.
Oppose (No): Disagree with the proposal.
No, with Veto: Strongly disagree with the proposal and require the deposit to be burned.
Abstain: Choose not to vote on a proposal but still participate in the governance process.
Proposal Quorum: In order for a proposal to be valid, a certain quorum must be reached, which is a minimum percentage of the total staked tokens that need to participate in the vote.
Proposal type
Proposals can range from parameter changes and software upgrades to community fund spending proposals and other governance-related matters. The most common proposal types include:
Parameter Change Proposal (ParameterChangeProposal): used to change the parameters defined in each module.
Community Fund Spending Proposal (CommunityPoolSpendProposal): used to spend funds in the community fund pool.
TextProposal: Handles other issues such as large directional changes or any decisions that require manual implementation.
voting process
Community members vote using their staked Sei. Each staked Sei is equal to one vote. If a user does not explicitly specify a vote, their vote defaults to the vote of the validator they staked. Validators will vote with their entire stake, unless otherwise specified by the delegator. Therefore, it is very important that each delegator votes according to his or her own preferences.
Here’s a basic overview of the governance process: Proposal Submission: A user submits a proposal and a two-day staking period begins.
Deposit Period: Users use Sei as a guarantee to support the proposal. This period ends at the end of the two-day deposit period or when the minimum deposit requirement is met.
Voting Period: Users vote during this period and express themselves based on the chosen options.
Results Period: After the voting closes, the results are tallied and announced.
in conclusion
The governance mechanism of the Sei blockchain provides a transparent and decentralized way for currency holders to participate in important decisions. Through this governance process, community members can not only influence the future of the network, but also ensure that their interests are fully considered. With the development of blockchain technology, this governance model will receive more and more attention and become the key to the success of future blockchain projects.
In the future, as more users participate in Sei's governance process, this ecosystem will be more complete and create more value for all participants. We hope that every Sei token holder can actively participate and contribute to our common future.