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SENATE (Grant Oversight)
Governance Structure for Kujira Blockchain
The Kujira Senate is a new governance structure for the Kujira blockchain that aims to facilitate validating on the platform, represent the values of the community, and support the stability and growth of the ecosystem. It is composed of up to 9 experts elected by the staking community and is accountable, transparent, and democratic.
The Senate is responsible for casting votes on proposals related to requests for grants from the community fund. A proposal requires a quorum of 75% and approval requires more than 50% support. Senators are expected to engage in public discussion and debate with each other, the public, validators, and grant applicants during their deliberations.
Initially, the Senate will be limited to community spend proposals, such as grants for research, development, marketing, and community initiatives. It will also review and decide on the Kujira Community Pool's budget, including the allocation of resources and the distribution of funds. The Senate will not be involved in decisions related to the core protocol or changes to the network parameters.
The Kujira Senate aims to enhance decentralization by amplifying the voices of elected representatives and allowing those with knowledge, experience, and the trust of the community to have an impact, even if they do not have a large stake of KUJI. It will also help to streamline the governance process and bring together community and team values. Validators' roles will evolve to include participating in governance discussions, voting on proposals, and interacting with the Senate.
The Kujira Senate will be implemented through two new smart contracts: a CW-4 "Group" contract and a CW-3 "Multisig" contract. The next steps for the Kujira Senate include building out the technical infrastructure and onboarding the first Senators. This marks the beginning of a new chapter in Kujira's governance structure.
Last modified 3mo ago