Proposal Process
OVN token holders control the Overnight protocol through on-chain (primary chain) and off-chain (other chains) proposals and votes via Snapshot. Proposals that generate majority support are implemented:
- on primary chain by executing transations
- on other chain by a 3-member multi-signature wallet, and 2 out of 3 wallet signers must sign for a change to be implemented.
OVN holders must have 0.5% of available OVN tokens to create a proposal.
Discussion regarding changes in the protocol happens on a variety of platforms, such as:
- Governance Forum
- Discord
Getting as much feedback as possible from the various communication channels is recommended before introducing a formal proposal. The governance forum and Discord server have dedicated channels for specific topics.
Primary chain:
Staking OVN in the following places will enable you to vote:
- Balancer OVN/stMatic LP token
- Beethoven OVN/OP LP token
- etc.
Other chains:
Holding/staking OVN in the following places will enable you to vote:
- Wallet
- Balancer OVN/stMatic LP token
- Beethoven OVN/OP LP token
- etc.
Proposal | Quorum | Voting period | Timelock |
|---|---|---|---|
Ratify Brain+, Dev+, Ops+, Tx+ | 51% | Quorum | 1 day | 6h |
Ratify Farm+ | 85% | Quorum | 1 week | 2 day |
Add/delete strategy | 25% | КвQuorum | 6 hours | 6h |
Other improvements | 51% | Quorum | 1 day | 6h |
Primary chain
As soon as the vote passes and timelock is over, anyone can execute the proposal
Other chains
Once a Snapshot votes have passed, changes will be signed by the multisig.
Last modified 4mo ago