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. Reporting1. 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:
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
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
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