Governance is the process of Secret Network users coming to consensus on software upgrades, parameters of the mainnet, or signaling mechanisms through text proposals. This is done through voting on proposals, which will be submitted by
SCRTholders on the mainnet.
- Voting is done by bonded
SCRTholders on a 1 bonded
SCRT1 vote basis.
- Delegators inherit the vote of their validator if they don't vote.
- Votes are tallied at the end of the voting period (1 week on mainnet) where each address can vote multiple times to update its
Optionvalue (paying the transaction fee each time), only the most recently cast vote will count as valid.
- Voters can choose between options
For more information about the governance process and how it works, please check out the Governance module specification.
To setup governance the
secretclimust be installed. You can get a detailed description of how to install the secretcli here.