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Participate in Bitgold governance

Bitgold governance runs on an on-chain Governor + Timelock system. Voting power comes from staked BTG, and proposals, votes, and execution are recorded on chain.

You can participate through the Bitgold app, or through any interface that supports the standard Governor ABI (for example Tally).

Parameters

Parameter Description Mainnet value Testnet value
votingDelay Fixed delay before voting starts on a proposal 0 hour 0 hour
votingPeriod Voting window before a proposal can be tallied 7 days 1 day
proposalThreshold Amount of govBTG needed to create a proposal 200 govBTG 100 govBTG
quorumNumberRator Share of total voting power required for a valid result 10% 10%
startGovThreshold Total gov token supply needed to enable governance 10M BTG 10M BTG
minPeriodAfterTheQuorum Extra voting time added when a proposal reaches quorum 1 day 1 hour
timelockDelay Timelock before a queued proposal can be executed 1 day 6 hours

Governance process

You need a Web3 wallet to sign the following operations. MetaMask, TrustWallet, and WalletConnect-compatible wallets all work.

Delegate voting power

After delegating BTG to a Bitgold validator, you can participate in governance. Voting power must be delegated — to a validator, to a community representative, or to yourself if you want to vote directly.

  1. Open the governance area of the Bitgold app and connect your wallet.
  2. Open My voting power and choose a delegate.
  3. Delegate to yourself to vote and create proposals directly, or to another address to have it act on your behalf.
  4. After delegating to yourself, the app shows your current voting power.

Create proposals

If your voting power exceeds the proposalThreshold, you can create a proposal. A user can have only one proposal in an active or pending state at a time, to prevent spam.

  1. Click Create new proposal.
  2. Add a title, a description, and, optionally, a list of actions.
  3. A text-only proposal has no on-chain action and will not be executed by the network.
  4. To add an action, click Add action and fill in:
    • Target Contract Address — the contract to call.
    • ABI File — upload the ABI if it is not detected automatically.
    • Contract Method — the method to call.
    • Calldata — optional input data.
  5. Click Publish. You can cancel a pending proposal with Cancel proposal.

Vote on proposals

Once a proposal is live (after votingDelay and before votingPeriod ends), cast a vote:

  1. Open the proposal and click Vote on chain.
  2. Choose For, Against, or Abstain.
  3. Sign the transaction.

Execute proposals

A proposal that reaches quorum and passes (more than 50% of cast voting power in favor) can be executed by the network.

  1. Queue the proposal with Queue.
  2. After the timelock expires, anyone can click Execute.

References