Governance Model
Exorium governance model centers on empowering EXR token holders to propose and vote on changes that affect the network functionality, parameters, and future direction. By combining on-chain voting with transparent proposal discussions, Exorium ensures that its Layer-1 blockchain remains both adaptive to technological advances and reflective of community needs.
Guiding Principles
Decentralization Authority over Exorium protocol does not rest in the hands of a small group of developers or founders. Instead, EXR holders collectively determine the network progression through open and verifiable on-chain proposals.
Transparency Every step in the decision-making process from proposal submission to final execution is recorded on-chain. This enables all participants to verify the integrity of the voting process and the resulting outcomes.
Inclusivity Exorium seeks to lower barriers to participation, allowing both large and small stakeholders to engage in governance. This inclusivity fosters a collaborative environment where a broad spectrum of ideas can take shape.
Proposal Lifecycle
Idea Discussion Community members or developers typically start by sharing and refining their ideas in public forums, such as official Discord, Telegram channels, or GitHub discussions. This phase encourages feedback and collaboration before a formal proposal is crafted.
Proposal Submission Once an idea is well-defined, its author creates an Exorium Improvement Proposal (EIP). This proposal usually includes:
Rationale: An explanation of why the change or upgrade is necessary.
Technical Details: Specifics about implementation, potential impact, required resources, and timelines.
Voting Parameters: A clear description of what token holders will vote on, such as yes/no questions or multiple-choice options.
On-Chain Voting
Staking Requirements: Proposals may require a certain level of EXR staked to be eligible for creation, filtering out spam or low-effort submissions.
Voting Window: Proposals remain active for a predetermined period, allowing token holders sufficient time to stake their votes or delegate voting power to trusted representatives.
Quorum & Approval Threshold: Each proposal must achieve a set quorum (e.g 20% of staked EXR) and a majority (e.g >50%) in favor to pass.
Execution & Implementation If a proposal meets the quorum and approval thresholds, the changes are either:
Automated: Triggered immediately by a smart contract mechanism that executes the approved modifications (e.g parameter adjustments, code upgrades).
Manually Implemented: For more complex upgrades, core developers and validators collaborate to incorporate the approved changes, following a transparent timeline and process.
Staking and Voting Power
Validator Participation Validators who stake EXR to secure the network inherently hold voting power, aligning their incentives toward the health and stability of Exorium.
Delegation Non-technical EXR holders or those with smaller token balances can delegate their voting power to trusted validators or community representatives. This mechanism broadens governance participation and ensures that decisions reflect the collective will of the network stakeholders.
By combining on-chain proposals, transparent voting, and treasury allocations under a unified framework, Exorium governance model ensures that EXR token holders are both the backbone and the driving force behind the network. This model not only enhances security and resilience but also promotes a culture of collaboration and continuous improvement, embodying Exorium commitment to an ever-evolving, community-led blockchain ecosystem.
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