The Pylon Governance framework aims to build a solid and sustainable protocol for development and usage. Governance is the decentralized process through which proposals for change in Pylon Protocol are introduced and accepted by the community through voting.
There are no admin keys with privileged access. After the initial bootstrapping of contracts, the Governance contract is set to be the owner of the Pylon Protocol contracts and all changes must be made through the governance with the procedure defined in this section. All major structural changes to Pylon Protocol must be voted on by the community and passed with a quorum to be considered binding.
Users can deposit MINE to create governance polls, and MINE stakers can vote on community fund grants, protocol updates, launchpad projects, parameter changes, new features development, and other ecosystem expansion initiatives. Every winning proposal will be then reviewed and applied by Pylon's core development and management team.
The Minerals Token (MINE) serves as Pylon Protocol's governance token. Only users with a staked MINE position can vote on polls, and each user receives voting power weighted by their amount of staked MINE. For every poll, a user can choose to allocate up to their total staked MINE. Users with higher MINE stake will have more influence when deciding in governance polls.