Governance Structure

Initiation

Users can lock in their tokens with 1000 KNJ in order to propose any changes or new developments. Technical and operational proposals are both acceptable. The proposal will be sent for an on-chain vote when it passes basic sanity checks and is determined to be viable. Examining numerous factors around the benefits and drawbacks of the offered improvement plans will be critical for the community. The dynamics around the minimum required coins for proposal and voting metrics needed can be upgraded over time and with changing market conditions following a community voting as the protocol develops in the market.

Voting

There will be a minimum 24-hour discussion period following the proposal initiation before it is put to the vote. Once the voting is live, it will remain running for a minimum of 72 hrs. After the voting ends, the final results will be posted on the forum. The proposal will be either rejected or accepted based on the final results.

Implementation

The improvements can be on the technical or operational end. For operational changes, the community will discuss and implement the best possible actions for the improvement proposal. For technical changes, the community will decide to allocate a part of the treasury for bounty or contract work and create a short proposal for community approval pre or post-talent vetting process based on the severity of the changes required.