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