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Governance and Staking in Sirath Network

Sirath Network, as a RollApp, integrates an onchain governance mechanism that empowers decentralized control over key decisions and fund management within the ecosystem. This governance model ensures that the community has a significant role in shaping the future of Sirath Network.

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Key Features

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Governance Mechanism

  • Onchain Voting:
    Facilitates decentralized voting on key decisions, such as transferring tokens from the community pool or adjusting onchain parameters.
  • Community Fund Management:
    Ensures transparent and decentralized control of funds owned by Sirath Network.

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Governors

  • Role of Governors:
    • Governors do not operate nodes but instead receive token delegations and vote on governance proposals.
    • Each Governor sets a commission rate, a tax applied to minted tokens and distributed fees.
  • Permissionless Governance:
    • Becoming a Governor is permissionless, requiring only enough token delegations to enter the active set (default: Top 100).

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Staking

  • Delegation:
    • Token holders can delegate tokens to Governors, allowing them to participate in governance and earn rewards.
  • Rewards:
    • Token holders receive a pro-rata share of minted tokens and fees distributed by Sirath Network.
  • Unstaking Flexibility:
    • Tokens can be unstaked at any time, but require undergoing an unbonding period (default: 21 days).

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Benefits for Sirath Network Participants

  1. Decentralized Control:
    Empowers the community to shape Sirath Network through onchain voting and fund management.
  2. Inclusive Participation:
    Anyone can become a Governor or delegate tokens, fostering a permissionless and open governance model.
  3. Reward Opportunities:
    Both Governors and token delegators earn rewards, creating an incentivized and sustainable ecosystem.
  4. Flexibility and Accessibility:
    Easy staking and unstaking options ensure user-friendly participation for all token holders.
Sirath Network’s governance and staking model emphasizes decentralization, transparency, and community-driven development, making it a pioneering RollApp in the blockchain space.