Understand Bifrost governance and learn how to create a Proposal

Governance

  • methods
  • requirements and
  • steps
  • Token holders must create a preimage of the proposal, which defines the action to be carried out. The submitter pays a fee-per-byte stored: the larger the preimage, the higher the fee. Once submitted, it returns a preimage hash
  • Token holders can submit the proposal using the preimage hash, locking tokens in the process. Once the submission transaction is accepted, the proposal is listed publicly
  • Once the proposal is listed, token holders can second the proposal (vouch for it) by locking the same amount of tokens the original proposal submitter locked
  • The most seconded proposal moves to public referendum
  • Once in referendum, token holders vote “Aye” or “Nay” on the proposal by locking tokens. Two factors account the vote weight: amount locked and locking period
  • If the proposal passes, it is enacted after a certain amount of time

Proposing an Action

Submitting a Preimage

  1. Select the account from which you want to submit the preimage
  2. Choose the pallet you want to interact with and the dispatchable function (or action) to propose. The action you choose will determine the fields that need to fill in the following steps. In this case, it is the system pallet and the remark function
  3. Enter the text of the remark in either ascii or hexidecimal format prefixed with “0x”. Ensure the remark is unique. “Hello World!” has already been proposed, and duplicate identical proposals will not be accepted. These remarks reside permanently on-chain so please don’t enter sensitive information or profanity
  4. Copy the preimage hash. This represents the proposal. You will use this hash when submitting the actual proposal
  5. Click the “Submit preimage” button and sign the transaction
  • Many community members participate in discussion in their protocol’s communication channels.
  • The Polkassembly discussion platform that allows users to log in with their Web3 address and automatically reads proposals from the chain, turning them into discussion threads. It also offers a sentiment gauge poll to get a feel for a proposal before committing to a vote.
  1. Head to the respective Polkassembly Proposal’s page for your network
  2. Under the on-chain proposals, you will be able to find the proposal details that you just created on polkadot.js app
  • The description should be comprehensive enough for anyone to understand the context of the proposal just by reading the description. A few people also attach links to external documents(if in their case the external document helps them describe the proposal better)
  • Token holders can sign-in using metamask, polkadot.js app or email and discuss on the proposal.
  • The like and dislike option allows user to express how they feel about the proposal.
  • Sample comment below -

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Polkassembly is a governance explorer and forum for @polkadotnetwork & @kusamanetwork . We enable open discussions for effective governance.

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Polkassembly

Polkassembly

Polkassembly is a governance explorer and forum for @polkadotnetwork & @kusamanetwork . We enable open discussions for effective governance.

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