Proposal process on Snapshot

The description of proposal process on Snapshot

  1. Creating a Proposal: An OVN or OVN_LP holder initiates a proposal on Snapshot.

  2. Proposal Goes Live: The proposal becomes active on Snapshot, making it available for the OVN or OVN_LP holder community to review and vote.

  3. Community Voting: Other OVN and OVN_LP holders have the opportunity to vote in favor of or against the proposal.

  4. Success Criteria: For a proposal to succeed, it must meet the quorum requirement, meaning it garners sufficient support. Unsuccessful Proposal: If the quorum is not reached, the proposal is considered unsuccessful and is canceled.

  5. Queue Period : In the event of a successful proposal, it enters a queue, awaiting execution.

  6. Proposal Execution: After the queue period, the OVN Agent executes the proposal, bringing the proposed changes to life.

Types of proposals on snapshot:

  • Upgrade protocol USD+

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