Proposal Process

Introduction

AtomAI governance is a 100% on-chain autonomous process: ATM token holders vote on proposals submitted as code to update the AtomAI protocol. The entire on-chain process occurs over two weeks without needing a trusted intermediary.

Delegating tokens

To participate in AtomAI governance, ATM token holders must first delegate their tokens for voting. For more information on ATM token delegation, please see the Delegation section.

AtomAI Proposal Process

Proposal threshold

At least 500 million total ATM votes are required to submit a proposal to governance. Delegation of the minimum threshold can be self-delegated or delegated by others.

Voting delay

The voting delay is 2 days. This provides ATM holders time to delegate their tokens (if they have not done so already) or re-delegate to a new address. It also serves as an opportunity to review and discuss the submitted proposal in the forum.

Voting period

The voting period is 5 days. ATM holders who have delegated their tokens can vote for, abstain, or against proposals during the voting period. Proposals require at least five billion ATM total votes for or abstain to reach quorum.

Proposal failure

At the end of the voting period, proposals that do not reach quorum or reach quorum but receive more against votes than for votes are not executed.

Proposal success

Any proposal that reaches a quorum requires more for than against votes at the end of the voting period to pass. Any account may queue passed proposals in the execution timelock.

Timelock

For successful proposals, there is a 7-day timelock to provide all protocol users time to understand the new parameters and their implications prior to the update. At the end of the 7-day timelock, any account may execute the proposal, triggering its code to be executed on-chain.