A truly decentralized protocol is not controlled by its founding team; it is owned and directed by its community. At Modulax, our goal is to achieve this state of true decentralization through a robust and accessible on-chain governance framework.
This guide explains how governance on Modulax works and how you, as an `$MDX` token holder, can help shape the future of the world’s most secure ledger.
The Role of the $MDX Token in Governance
The $MDX token is more than an economic asset; it is a unit of voting power. Your influence in the Modulax ecosystem is proportional to the amount of $MDX you have staked. This ensures that those with the most long-term conviction and vested interest in the network's success have the strongest voice in its evolution.
The Governance Process
Our governance model is designed to be transparent and straightforward, typically following these steps:
Discussion: A proposal idea is first submitted to the Modulax community forum. Here, anyone can discuss, debate, and refine the idea before it moves to a formal vote.
Formal Proposal: Once the idea is solidified, it is formally submitted on-chain as a Modulax Improvement Proposal (MIP).
On-Chain Voting: A voting period begins, typically lasting several days. $MDX stakers can cast their vote ('For,' 'Against,' or 'Abstain') on the proposal through our official governance portal.
Execution: If the proposal passes the required quorum and threshold, it is automatically queued for execution by the protocol's smart contracts or implemented by the core team as mandated by the vote.
What Can Be Governed?
The community has control over the most critical aspects of the Modulax protocol. Examples include:
Protocol Upgrades: Approving significant changes to the core logic, including the final parameters of the post-quantum transition.
Treasury Allocations: Deciding how to spend funds from the community-owned treasury to foster ecosystem growth.
Staking Parameters: Adjusting variables like the reward rate or the percentage of fees shared with stakers.
Ecosystem Grants: Ratifying the distribution of grants to promising new projects building on the network.
How to Participate
Your voice matters. To get involved:
Join the Conversation: Actively participate in discussions on our Discord and community forums.
Review Proposals: Stay informed about current proposals on the governance portal.
Vote: Use your staked $MDX to make your voice heard on the issues that matter most to you.
The future of Modulax is not predetermined; it will be built, decision by decision, by our community. We invite you to be a part of it.