Proposal process on OVN Governance

The description of proposal process on OVN Governance on Mother Chain(Optimism)

1. Creating a Proposal: An OVN Holder initiates a proposal,such as change Agent OVN and upgrade protocol timelock.

2. Proposal in Pending State: The proposal is initially in a pending state, awaiting further actions.

3. Active Proposal: Afterward, the proposal becomes active and is open for voting, during which a quorum requirement must be met.

4. Successful Proposal: If the proposal garners the necessary support and meets the quorum requirement, it succeeds. Proposal Unsuccessful: Proposal canceled

5. Queue Period: The successful proposal is then placed in a queue for execution, where it awaits its turn for another one-week period.

6. Execution of Proposal: Finally, the proposal is executed, and its intended actions are carried out.

Proposal process on Mother Chain

Types of proposals on mother chain:

• Mint a new OVN tokens

• Set a new OvnAgent

• Upgrade AgentTimelock contract