Governance
Proposals
Governance procedures follow the general model of on-chain governance in the Cosmos ecosystem. Anyone with an address and some minimum amount of tokens can make a proposal.
On-chain proposals will require a deposit that has to be collected until the end of the deposit period or when the required deposit size is reached. Deposits are only burned if the proposal is vetoed. So if it is rejected or fails to meet the quorum, the deposit is not burned. Any Validator with voting power can vote. However, at the end of the voting period, when votes are counted, only votes cast by Validators in the active set are counted towards the result.
Note that the Validator’s voting power consists of tokens delegated to it. As a result, the most important feature of governance is that through the delegation to honest Validators, every Synternet token holder can contribute to the future of the Synternet Data Layer protocol. Let’s shape the Web3 data space together!