▫️Governance bot

What is Governance bot❔

Governance Bot by Unity Nodes is a tool that automatically tracks all new proposals in the blockchain network. It notifies users about new proposals and provides information about each one.

πŸ“Œ What are proposals?

Proposals are suggestions for changes in the network that are put to a vote. They can relate to various aspects of network operation, such as software updates, changes in the economic model, governance rule modifications, and more.

πŸ“Œ Importance of proposals:

  • Network Updates: Proposals may include important software updates that improve network functionality and security.

  • Economic Changes: Adjustments in tokenomics, such as inflation corrections or reward distribution changes.

  • Governance Rules: Establishment or modification of network governance rules and procedures.

  • Ecosystem Development: Funding new projects or initiatives that contribute to network growth.

πŸ“Œ Who can vote?

Voting rights are usually granted to network participants who own network tokens. These can include:

  • Validators: They often have significant influence on voting due to their large token stakes.

  • Delegators: Token holders who delegate their tokens to validators and gain voting rights.

  • Other Participants: In some networks, all token holders can participate in voting directly.

πŸ“Œ Types of voting:

  • Voting on a Proposal (Yes/No/Abstain/NoWithVeto):

    • Yes: Support the proposal.

    • No: Oppose the proposal.

    • Abstain: Abstain from voting.

    • NoWithVeto: Oppose the proposal with a veto, which can fully reject the proposal if such votes reach a critical number.

  • Voting on Different Types of Proposals:

    • Text Proposals: General proposals that do not require technical changes.

    • Software Upgrade Proposals: Proposals for updating the base software code.

    • Parameter Change Proposals: Proposals for changing economic or other network parameters.

    • Community Pool Spend Proposals: Proposals for allocating funds from the community pool to various initiatives.

πŸ“Œ How Governance Bot Works:

  1. Tracking New Proposals: The bot regularly checks the network for new proposals.

  2. User Notifications: Users receive notifications about new proposals in the networks they have chosen.

  3. Providing Information: The bot provides detailed information about each proposal, including its content, links to voting, and commands for voting.

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