Understanding Governance
Last updated
Last updated
The foundations of Opal governance are inspired by Conic Finance model, and integrates a certain number of twists to make it fit with the uniqueness of Opal vision and functionalities (including on-chain + off-chain governances modules enabling delegation of votes).
Anyone that has some $vlGEM balance is eligible to vote on proposals. There are two different types of proposals that $vlGEM holders can create:
Opal Improvement Proposals (OIPs)
Ecosystem Amendment Proposals (EAPs)
In addition to these proposals, there are biweekly liquidity allocation votes (LAVs) that update the liquidity allocation weight of every underlying pool that is used by an Omnipool and biweekly GEM allocation votes (GAVs) that define the allocation of Opal's liquidity mining between the Omnipools. While OIPs are more general improvement proposals, EAPs are proposals that determine which ecosystem pools are eligible to vote on in a LAV.
