# Proposal Lifecycle

Ledgity governance is based on a **simple and transparent decision flow**:

→ **veLDY stakers** (the DAO) **vote on proposals**\
→ **Council stakers** execute the approved decisions on-chain\
→ The protocol updates automatically or through predefined smart contract actions

Governance is **stake-based**, permissionless, and recorded **fully on-chain**.

***

### **Lifecycle Overview**

```
1. Discussion → 2. Proposal → 3. Snapshot Vote → 4. Execution → 5. Reporting
```

***

### **1. Discussion (Forum / Discord / Community Call)**

Ideas, improvements, or parameter adjustments start with **open discussion**.

Examples of topics:

* Adjusting vault fees
* Updating collateral or strategy allocations
* Launching new network deployments
* Adding or modifying vaults
* Buyback or burn schedule adjustments

The goal of this stage is **consensus-building**, not decision-making.

> Anyone can start a proposal discussion.

***

### **2. Governance Proposal Draft (Formalization)**

Once the idea is clear, the proposer writes a **Governance Proposal** with:

| Field                                      | Description                                             |
| ------------------------------------------ | ------------------------------------------------------- |
| **Title**                                  | Clear name of the proposal                              |
| **Context / Motivation**                   | Why this change matters                                 |
| **Specification**                          | The exact change to be made                             |
| **Smart Contract Targets (if applicable)** | Parameter(s) / vault(s) / contract(s) impacted          |
| **Expected Outcome**                       | What should happen after execution                      |
| **Risks**                                  | Any operational, liquidity or governance considerations |

The proposal is shared publicly before voting.

***

### **3. Snapshot Vote (veLDY Holders Vote)**

The proposal is submitted to **Snapshot** for a weighted vote.

* Voting power = **veLDY balance** (not LDY)
* Each veNFT contributes voting weight according to its lock duration & stake size
* Voting is gasless and transparent

| Outcome          | Effect               |
| ---------------- | -------------------- |
| **Majority YES** | Proposal is approved |
| **Majority NO**  | Proposal is rejected |

> **veLDY stakers are the DAO. Their vote is final.**

***

### **4. Execution (Council On-Chain Actions)**

Once a proposal is approved:

* **Council stakers** (≥ 500,000 LDY) perform the on-chain execution steps
* Execution is **fully deterministic**: Council cannot modify the proposal
* If execution requires multiple steps, they are coordinated transparently


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.ledgity.finance/governance-council/proposal-lifecycle.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.