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Governance

Governor

Governor is the governance module of the protocol; it allows addresses with more than 10% of the current supply of Union token to propose changes to the protocol. Addresses that held voting weight, at the start of the proposal, invoked through the getpriorvotes function, can submit their votes during a 3 day voting period. If a majority, and at least 40% of Union votes are cast for the proposal, it is queued in the Timelock, and can be implemented after 2 days.

Timelock

Each Union contract allows the Timelock address to modify them. The Timelock contract can modify system parameters, logic, and contracts in a 'time-delayed, opt-out' upgrade pattern.
The Timelock has a hard-coded minimum delay of 2 days, which is the least amount of notice possible for a governance action. Each proposed action will be published at a minimum of 2 days in the future from the time of announcement. Major upgrades, such as changing the risk system, may have a 14 day delay.
Last modified 1yr ago
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