Governance

Token governance's primary goal is to build system safeguards that let fractional owners maintain control over their tokens. This is mainly done by identifying edge cases in ownership models, working through several dueling vectors, and then eliminating them via settings, variable caps, and governance modifications. Examples of this include limiting the curator's fee, establishing a time limit for the auction, or, in extreme situations, dismissing a curator from their position.

Voting:

Users can vote for or against single proposals once they have voting rights delegated to their address. Votes can be cast while a proposal is in the “Active” state. Votes can be submitted immediately using “castvote” or submitted later with “castVoteBySig.” If the majority of votes (and a 4% quorum of delegated OMMI, i.e. 70,000 OMMI) vote for a proposal, the proposal is queued in the Timelock.

Timelock:

All governance and other administrative actions are required to sit in the Timelock for a minimum of 2 days, after which they can be implemented into the protocol. Over time these key components of the governance system may change if the community decides to upgrade them in a form of meta-governance. OMMI holders will be the ultimate arbiters of the future direction of every aspect of the protocol.