Basilisk is in the process of fully decentralizing its governance. All decisions which affect the protocol are adopted following a democratic process which is supported by the Substrate democracy module. The central mechanism for establishing consensus among the stakeholders is the referendum.
This section contains a series of knowledge articles which should provide you with a better understanding of the mechanisms behind the governance of Basilisk. You will find more information on how referenda work, as well as on the two central groups of governance actors: the Basilisk Council and the Technical Committee.
If you are looking for practical guidance on how to participate in the governance of Basilisk, please refer to the step-by-step guides on participating in referenda and participating in Council elections.
The list below contains the most important parameters which influence the governance mechanism on Basilisk. Please note that these may change over time.
- Referendum launch period: 3 days
- Referendum voting period: 3 days
- Referendum enactment period: 6 days
- Emergency referendum voting period: 3 hours
- Cooloff period after a referendum has been rejected: 7 days
- Maximum pending referendum proposals: 100
- Council size: 7 members
- Duration of Council term: 7 days
- Duration of Council motions: 5 days
- Committee size: 10 members
- Duration of Committee motions: 5 days
- Fast-tracked referendum period: 3 hours