Attention Centrifuge DAO and governance aficionados!
As a DAO, we have to make an important decision regarding a migration to OpenGov and we would like to invite our governance/OpenGov experts to start the discussions.
Gov1 was the main governance system on both Polkadot and Kusama (including the parachains). OpenGov is the new system that has been live on Kusama since November 2022 and was recently implemented on Polkadot in June 2023.
It is entirely up to the individual projects whether they want to adapt this new system or stay on the old one (Gov1) - each project can also customise the setup so it fits their needs. Some projects have already adapted OpenGov (Moonbeam/Moonriver) and others (Bifrost and Robonomics) are in the process of doing so.
Centrifuge DAO is a decentralised entity and the GCG believes that our governance process should reflect that as well.
Some useful background knowledge about OpenGov:
Leemo’s presentation of OpenGov in Governance Call 18 (38:10 - 57:05)
A full migration to OpenGov offers advantages like:
- More decentralisation
- No entity that holds special power of the network (i.e. the Council)
- Token holders can vote on all proposals
- More flexibility in terms of delegation
- You can delegate your tokens to vote on specific tracks only
- More flexibility in terms of submission of proposals
- Multiple referenda can run simultaneously
- More flexibility in terms of customising the lifecycle of a referendum
- Criteria for passing and maximum duration of proposals can be customised
However, none of that will matter, if we don’t think carefully about which parameters we want to use for the different tracks and it could pose a big risk to our chain’s security and also our treasury.
Note that a possible migration will not affect our off-chain governance - it will only change the way on-chain submission of proposals are made and their lifecycle.
Before a proposal is made to migrate to OpenGov, we need to discuss some important topics:
- Do we want to keep our treasury locked behind the council (Council still administers the funds) or do we want to use OpenGov’s model (treasury proposals are voted on by all token holders)?
- How many members should the Fellowship consist of and who should be in it?
- What tracks do we want to include in our setup?
- What parameters do we want to use for each track?
- Maximum # of referenda to run at the same time (Max Deciding)
- Duration of Preparation Period
- Decision Deposit
- Decision Period
- Approval and Support Criteria
- Confirmation Period
- Enactment Period
- When we decide to migrate, should this apply to Altair as well?
In order to make sure that we approach this decision the best possible way, we need to gather a diverse work group consisting of people who have a broad knowledge about both governance/OpenGov and technical knowledge about how the Centrifuge chain works (e.g. protocol engineers). Tagging some people who could be interesting joining the work group:
Feel free to express your interest in joining the work group in the comments below if you want to contribute.
Once the group has been established, we will schedule a call to discuss the topics thoroughly and it will also be on the agenda for the governance call in August. Once consensus has been reached, there will be a formal proposal, with specific tracks and their parameters, for all CFG token holders to vote on.
Here are some questions to help start the discussions:
- What are your thoughts about a migration to OpenGov?
- When would be a good time to start migrating to OpenGov?
- What are your experiences with OpenGov from Polkadot/Kusama (or other projects)?
- Are there any other considerations to be made other than the ones mentioned above?
Please share your thoughts below.