▫️Governance bot

Link to our Governance bot:

Governance Bot ¤ Unity NodesTelegram

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.

📌 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.

📌 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.

📌 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.

📌 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.

📌 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.