Overview of Polkadot OpenGov Governance
masterPolkadot OpenGov is a decentralized governance mechanism where all proposals are initiated by the public. The system uses stake-weighted referenda to agree upon protocol changes. It utilizes WebAssembly (Wasm) for on-chain state-transition functions and supports various voting mechanisms like referenda and batch approval voting.
Key components include:
- Proposals: Initiated by the public and subject to a Lead-in period.
- Tracks: Preset configurations that define the duration of a referendum and the maximum number of simultaneous referenda allowed in that track.
- Origins: There are 15 distinct origins, each associated with a specific track configuration.
- Multi-role Delegations: Allows token holders to assign voting power for specific tracks to different expert entities, enabling specialized governance without requiring the holder to be an expert in every domain.