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Mchain Governance

Governance on Mchain is a critical aspect that allows community participation in the decision-making process of the network. It's a way for token holders to exercise their voice on various proposals that can shape the future of Mchain.

Testnet URL: https://testnet.hub.mchain.network/mchain/gov

What You Can Do in Governance​

  • Submit Proposals: Users can propose changes or new features for the Mchain network.
  • Vote on Proposals: Token holders can vote on submitted proposals, influencing their outcome.
  • Deposit Tokens: To show support, users can deposit tokens on proposals they believe in.

Understanding the Governance Process​

  • Proposal Submission: Users submit proposals, which are then open for deposits.
  • Deposit Period: A phase where users deposit tokens on proposals. Proposals with enough deposits move to the voting phase.
  • Voting Period: Token holders vote on proposals. Votes can be for, against, or abstain.
  • Proposal Outcomes: Based on the votes, proposals can be passed, rejected, or fail to reach quorum.

Key Aspects​

  • Title and Description: Every proposal has a title and a detailed description.
  • Timeline: Proposals have specific timelines indicating submission, deposit, and voting periods.
  • Tally of Votes: The count of votes for, against, abstain, and total votes.
  • Proposal Statuses: Statuses include deposit period, voting period, passed, rejected, and failed.

How to Participate​

  • Visiting the Governance Section: Go to Mchain's governance section to view and participate in active proposals.
  • Voting and Depositing: Use your tokens to vote on proposals or deposit to show support.