Governance

Openverse governance is driven by the Openverse community, and much of the documentation was funded by the community fund itself in proposals. Governance discussions happens in a number of places moderated by diverse community members, including: Twitter and Forums and anywhere else you might interact with members. and the major base is in the openverse community.

Off-Chain Proposal Process

Once a proposal is on-chain, it cannot be changed to reflect feedback or new information. It's very important to give a proposal time off-chain to receive feedback, input, and edits before going on-chain and asking for votes.
The process of passing a proposal starts long before it goes on-chain!
Steps:

• Create a thread in the openverse forum with the full materials.
• The moderators will approve or reject the thread.
• Then the thread will open to the public, and member will submit their selections.
• Will the poll statictics, the creator/community/foundation/team will take the next step.

On-Chain Proposal Process

The openverse has an on-chain governance mechanism for signaling, changing consensus parameters, and spending funds from the community pool.
This repository provides background information on these different kinds of proposals and best-practices for drafting them and proposing them on-chain.

Several of the numbers involved in governance are parameters and can thus be changed by passing a parameter change proposal.

• Minimum deposit: 128 Bitgolds
• Maximum deposit period: 14 days
• Voting period: 14 days
• Quorum: 40% of participating voting power
• Pass threshold: 50% of participating voting power
• Veto threshold: 33.40% of participating voting power

Steps:

• Deposit Period: The deposit period lasts either 14 days or until the proposal deposit totals 128 Bitgolds, whichever happens first.
• Voting Period: The voting period is currently a fixed 14-day period. During the voting period, participants may select a vote of either 'Yes', 'No', 'Abstain', or 'NoWithVeto'. Voters may change their vote at any time before the voting period ends.