Skip to main content

Introduction

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.

Democracy Parameters#

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 Parameters#

  • Council size: 7 members
  • Duration of Council term: 7 days
  • Duration of Council motions: 5 days

Technical Committee Parameters#

  • Committee size: 10 members
  • Duration of Committee motions: 5 days
  • Fast-tracked referendum period: 3 hours