Glossary

PHRO: An ERC-20 token that designates the weight of a user's voting rights. The more PHRO a user has in their wallet, the more weight their delegation or vote on a proposal holds.
Delegation: PHRO holders cannot vote or create proposals until they delegate their voting rights to an address. Delegation can be given to one address at a time, including the holder's own address. Note that delegation does not lock tokens; it simply adds votes to the chosen delegation address.
Proposal: A proposal is executable code that modifies the governance contract or treasury and how they work. In order to create a proposal, a user must have at least 500,000 gPRHO of all gPHRO delegated to their address. Proposals are stored in the "proposals" mapping of the Governor smart contract. All proposals are subject to a 7-day voting period. If the proposer does not maintain their vote weight balance throughout the voting period, the proposal may be canceled by anyone.
Quorum: In order for a vote to pass, it must achieve quorum of 2% of all gPHRO (20M) voting in the affirmative. The purpose of the quorum is to ensure that the only measures that pass have adequate voter participation.
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" (For more info on castVoteBySig and offline signatures, see EIP-712). If the majority of votes (and a 2% quorum of gPHRO) vote for a proposal, the proposal may be queued in the Timelock.
Voting Period: Once a proposal has been put forward, Pharo community members will have a seven day period (the Voting Period) to cast their votes.
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.

PreviousWriting A Proposal NextAdversarial Circumstances

Last updated 1 year ago

Was this helpful?

Glossary

PHRO: An ERC-20 token that designates the weight of a user's voting rights. The more PHRO a user has in their wallet, the more weight their delegation or vote on a proposal holds.

Delegation: PHRO holders cannot vote or create proposals until they delegate their voting rights to an address. Delegation can be given to one address at a time, including the holder's own address. Note that delegation does not lock tokens; it simply adds votes to the chosen delegation address.

Proposal: A proposal is executable code that modifies the governance contract or treasury and how they work. In order to create a proposal, a user must have at least 500,000 gPRHO of all gPHRO delegated to their address. Proposals are stored in the "proposals" mapping of the Governor smart contract. All proposals are subject to a 7-day voting period. If the proposer does not maintain their vote weight balance throughout the voting period, the proposal may be canceled by anyone.

Quorum: In order for a vote to pass, it must achieve quorum of 2% of all gPHRO (20M) voting in the affirmative. The purpose of the quorum is to ensure that the only measures that pass have adequate voter participation.

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" (For more info on castVoteBySig and offline signatures, see EIP-712). If the majority of votes (and a 2% quorum of gPHRO) vote for a proposal, the proposal may be queued in the Timelock.

Voting Period: Once a proposal has been put forward, Pharo community members will have a seven day period (the Voting Period) to cast their votes.

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.