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14
general/governance.md
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@ -8,7 +8,7 @@ In order to participate in Tornado.Cash governance, users first need to lock tok
To create a proposal, a user needs to have at least `1,000 TORN`. All proposals must be smart contracts with verified code that are executed from the [governance contract ](https://etherscan.io/address/0x5efda50f22d34F262c29268506C5Fa42cB56A1Ce)(using `delegatecall`). This way, it’s easy to audit and test any governance changes.
The voting period for a proposal is 3 days. A proposal will succeed if it receives a simple majority of votes and there are at least `25,000 TORN` total votes (if turnout is too low, the proposal automatically fails).
The voting period for a proposal is 5 days. A proposal will succeed if it receives a simple majority of votes and there are at least `25,000 TORN` total votes (if turnout is too low, the proposal automatically fails).
After a proposal succeeds, it is subject for a timelock of 2 days. After the timelock, any user is able to execute the proposal (which initiates the changes). If proposal is not executed for 3 days after that, it is considered _expired_ and can no longer be executed.
@ -41,11 +41,11 @@ Approve the governance contract to transfer your TORN tokens by clicking on the
![](../.gitbook/assets/c05e5a1813edad280544b627b24002dc8d5adcf2.png)
Before the vote, the next crucial step is to review the proposal.\
 Legitimate proposals should have a dedicated post on [Torn.community ](https://torn.community)under the category “Proposal”. The forum post will provide additional context and arguments on the proposal. Read the thread and make your own mind on the issue.
Legitimate proposals should have a dedicated post on [Torn.community ](https://torn.community)under the category “Proposal”. The forum post will provide additional context and arguments on the proposal. Read the thread and make your own mind on the issue.
Once a proposal was submitted it should appear on:\
[https://app.tornado.cash/governance](https://app.tornado.cash/governance)\
 Proposal are implemented in the form of a smart contract making changes to the system. It is therefore important to verify the address of the smart-contract and review its code. Find the address of the proposal contract here:
Proposal are implemented in the form of a smart contract making changes to the system. It is therefore important to verify the address of the smart-contract and review its code. Find the address of the proposal contract here:
![](../.gitbook/assets/181d612b6c57964bab59c8e5b766f5247211083d.png)
@ -59,9 +59,9 @@ If you are not technical or not comfortable to read Solidity code, get someone y
If you agree (or disagree) with the proposal code, it time to vote!
A proposal have a voting windows of 3 days. This means that we have 3 days to reach the vote quorum of 25k TORN.
A proposal have a voting windows of 5 days. This means that we have 5 days to reach the vote quorum of 25k TORN.
Important: Once you voted, your tokens will be locked for 8.25 days from the moment the proposal was submitted (the start of the 3 days voting period). After the 8.25 you can withdraw your tokens from the governance contract. Note that you can vote on 2 proposal at the same time without incurring additional lockup period (Only the most recently submitted proposal will matter for the 8.25 lockup).
Important: Once you voted, your tokens will be locked for 8.25 days from the moment the proposal was submitted (the start of the 5 days voting period). After the 8.25 you can withdraw your tokens from the governance contract. Note that you can vote on 2 proposal at the same time without incurring additional lockup period (Only the most recently submitted proposal will matter for the 8.25 lockup).
To vote, simply click on the Green check mark or the the red cross depending whether you accept or reject the proposal. Confirm the transaction with Metamask and your vote is in!
@ -91,6 +91,4 @@ The totality of your locked balance will be delegated.
You can undelegate at anytime. To undelegate simply use the `Undelegate` Button in `Manage` -> `Undelegate` Tab.
_Written by_ [_@rezan_](https://torn.community/u/Rezan/summary)__
_Written by_ [_@rezan_](https://torn.community/u/Rezan/summary)\_\_