Governance of the Blockchain - Draft

The following items are blockchain configuration items that need governance by the CoOperative.   There needs to be a body responsible for making these decisions about the blockchain within the CoOperative.

Reference: RChain Improvement Process (RCHIP Process) - Draft

  1. Approve RIPs - (RChain Improvement Proposals) by a specified process.
  2. Update the RIP Approval process. 
  3. Set economic parameters on the blockchain if so specified as part of a RIP.
  4. Collaborate on the prioritization of features in the RIP Process.
  5. Provide guidance on how compliance issues should be addressed from a technical perspective.  Example: a malicious contract is deployed, and the engineering team has 2 courses of action to take, this body would help determine which course of action the development team should take.

Set of Parameters requiring CoOperative Governance for Mercury


Unbonding RIP-1 - Getting issue details... STATUS For the root shard: Specify the unit defining the rate at which Validators may Unbond.

The rate by which validators can unbond from the root shard should be governed by the CoOperative.

  • The rate by which Validators can unbond could be specified by:
    • The amount of stake
    • Number of validators

Unbonding RIP-2 - Getting issue details... STATUS What is the Rate by which validators can be unbonded?For the root shard: The rate will be based on the number of blocks elapsed.  Specify either the amount of stake or number of validators PER number of blocks as the unbonding rate.

Phlogiston RIP-5 - Getting issue details... STATUS What is the initial exchange rate for Phlogiston / Rev?

Phlogiston RIP-6 - Getting issue details... STATUS Is there a limit to how much the Phlogiston exchange rate can be changed in each block?

If there is a limit to how much the exchange rate can be changed, what is this limit?

How much slashing for equivocation?

Vlad's proposal:

What is the policy around slashing events deemed to be the result of software defects?Recommendation: Validator submits logs to a bug report including evidence of the slash, core issue.  Validator has to also provide evidence that they are running CoOp node software.  If upon investigation, the outcome is that the issue is a software defect, the slashed amounts are refunded to the validator.

Slashed Bond
Where does the slashed bond go?To support the above policy, slashed bond should go to a specific CoOp address.

Bond Amounts

The root shard minimum bond amount is 1500 Rev

The root shard maximum bond amount is 1,000,000 Rev

Bond Amounts
Is there a global minimum bond amount?  Yes or No?

Bond Amounts
Is there a global maximum bond amount?  Yes or No?

Bond Amounts
If there is a global minimum bond amount, what is the amount?

Bond Amounts
If there is a global maximum bond amount, what is the amount?

CoOp Tax
There is a 0.01% CoOp fee on the platform, where this percentage of all transactions are diverted to CoOp wallets.  How are these funds governed?