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Proposal process on Snapshot

The description of proposal process on Snapshot
  1. 1.
    Creating a Proposal: An OVN or OVN_LP holder initiates a proposal on Snapshot.
  2. 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. 3.
    Community Voting: Other OVN and OVN_LP holders have the opportunity to vote in favor of or against the proposal.
  4. 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. 5.
    Queue Period : In the event of a successful proposal, it enters a queue, awaiting execution.
  6. 6.
    Proposal Execution: After the queue period, the OVN Agent executes the proposal, bringing the proposed changes to life.
Proposal process on Snapshot

Types of proposals on snapshot:

  • Upgrade protocol USD+