The governance of Altair is going to be an important factor in its trajectory. This post gives an outline of the first step.
AIR holders will have full ability (and the responsibility!) to govern the network.
This involves making decisions on runtime upgrades, any changes to the chain, council elections, collators, and the treasury.
The tentative timeline for on-chain governance functionality on Altair is the week starting November 29th and the first step for AIR holders is to elect council members onchain.
Altair Governance involves two bodies:
- AIR holders, through the public proposal and the democracy process.
- The Altair Council, which can submit proposals through the AIR holder democracy process.
The AIR council will comprise a body of 7 elected members who gain prioritized voting rights over other AIR holders. The purpose of the council is to propose referendum beneficial to the Altair network, based on member’s expertise and experience in developing, maintaining and using Altair. The council also serves to represent passive AIR holders who may not participate in all referendums.
How to become a council member:
To get a seat on the council follow these steps
Post your introduction in the Forum in the Altair Governance Category and tag it ‘election-intro’
- Explain who you are
- State your reason for wanting to be on the council, and;
- Why you would be a good council member
Start submitting your introductions now!
The period for posting introductions will run from now until when this democracy functionality is enabled on-chain in the upcoming runtime upgrade.
Then candidates who believe they have received enough positive input on their Forum introduction (note this is up for you to decide) submit a referenda with a proposed stake of 100 AIR. Note: if the submitter is not elected, then they lose this stake (i.e. the staked AIR are burned).
Check the existing Centrifuge governance documentation for information on how elections, proposing referenda and voting works and expect more posts detailing the Altair Governance process.