Proposal Process
Introduction
Anvil governance is a 100% on-chain autonomous process: ANVL token holders vote on proposals submitted as code to update the Anvil protocol. The entire on-chain process occurs over two weeks without needing a trusted intermediary.
Delegating tokens
To participate in Anvil governance, ANVL token holders must first delegate their tokens for voting. For more information on ANVL token delegation, please see the Delegation section.
Proposal threshold
At least 500 million total ANVL 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 ANVL 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. ANVL holders who have delegated their tokens can vote for, abstain, or against proposals during the voting period. Proposals require at least five billion ANVL 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.
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