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Participate in Litentry Governance
Tutorial on how to Participate in Onchain and Offchain Litentry Governance
Governance is one of the core features of decentralization and an important mantle of the Litentry protocol. It allows our community members to discuss issues, ideas, and proposals that they care about publicly and transparently and give them the power to make important decisions over the development of the protocol using on-chain and off-chain governance.
On-Chain Governance is powerful because it can directly change the code of the Litentry Runtime and other storage. To ensure the quality of the governance proposal, proposers are required to deposit tokens to propose a referendum. Thus, It requires proposers to have a thorough understanding of their proposal, as well as to gain relatively broad support from other community members.
Off-Chain Governance has a low threshold so that it is more accessible and encompassing. Off-chain decision-making can not only help a proposal gain support before going on-chain, but it can also cover issues that shall be executed on a social level.
This guide will help you to understand how to participate in the two types of Litentry protocol governance.
With on-chain governance, you can propose making an Extrinsic Call that changes a specific part of the code of the Litentry Runtime. There are different sections of extrinsic on Litentry:
assetManagerbridgeTransferchainBridgecollatorSelectiondemocracyidentityManagementtokens- And others, please see polkadot.js → Litentry→Developer → Extrinsic
Phase 1: Idea
Anyone is welcome to propose an initial idea and create a poll using off-chain Governance. If an idea receives support from other people, it can be proposed in a Referendum.
Phase 2: Propose
What you’ll need is a Litentry Wallet and some LIT
- Once you’re ready, submit a proposal at Democracy on Polkadot.js by hovering your mouse on the Governance tab and clicking Democracy from the drop-down options.
Next, you click the Submit Proposal button as shown below:
Upon clicking the submit proposal button, find the preimage hash that corresponds to the extrinsic call that you wish to make, depending on which section of code you are proposing changes to. You can find a preimage hash for a specific Extrinsic Call at Extrinsic.
Extrinsics in the Developer menu
Once in Extrinsics, select your desired Extrinsic call by selecting an option from the drop-down in the part labeled 1 below. Then copy the Encoded Call Hash as shown in the part labeled 2.
Next, go back to your submit proposal page and past your copied hash in the Preimage hash box
Finally, enter your locked LIT balance and click the submit proposal button.
Kindly note that 100 LIT are required to submit your proposal. Also, check if you have sufficient balance to pay the gas fee (around 1 LIT per tx).
Once your proposal is submitted, change the text description of your proposal. It’s important to write a strong rationale for others to endorse and support your proposal. If your proposal gets highly bonded support, it moves into a referendum.
Phase 3: Vote
Once a proposal runs into a referendum, it will start an on-chain voting process where all LIT holders can stake to vote during a 5-day period. If your referendum passed, it will automatically fulfill and change the code in the Litentry Runtime.
Issues
At the social level, the LIT community can govern over issues in the following aspects:
- Tokenomics and slot auction campaigns
- Project partnerships with Litentry products
- External project incubation and onboarding to the Litentry parachain
- Community growth strategies, events organization, and technology avocation
Off-Chain Governance Process
Litentry is partnering with OpenSqaure, which provides us with a useful tool to raise off-chain governance proposals and start a voting process.
Users can go to Litentry Voting on OpenSquare and create a new proposal. You can use an ETH wallet instead of a Litentry wallet to participate. Creating proposals require you to have at least 1 LIT token in your wallet, but you don’t need to deposit or stake any token to submit a proposal.
Obtaining LIT tokens is the first step to getting involved in on-chain governance.
You can purchase LIT on the following platforms (skip this if you already have LIT):
- Uniswap
- Binance
- Gate.io
- KuCoin
If you do not have any LIT, you can still participate in soft governance using the Discussion and Comment feature on Litmus Governance Platform.
Last modified 9mo ago