Introducing Self Chain Governance Portal
Self Chain’s Governance is now LIVE, empowering $SLF holders to govern the future of the Self Chain network.
This milestone reflects our commitment to creating a decentralized ecosystem where $SLF holders and builders can collaborate to guide development and ensure the network’s growth aligns with the community’s needs.
Key Features of the Portal
The governance portal places the decision-making ability directly into the hands of the community through the following features:
- Voting: $SLF holders can cast their votes on key governance proposals, directly influencing critical decisions that shape the future of Self Chain.
- Proposals: Builders, contributors, and $SLF holders can submit proposals for new projects, network upgrades, or protocol changes.
- Community Forum: A dedicated space for $SLF holders to engage in discussions, brainstorm ideas, and refine proposals before they move to the voting stage.
Made possible by the $SLF token, the newly launched Governance Portal allows $SLF holders to actively shape the direction of Self Chain through the DAO.
How Does the Portal Work?
Here's how it comes together in a step-by-step approach:
Step 1: Proposal Creation
An initiator will generate and submit a proposal related to network upgrades, community initiatives, or any critical network parameters (e.g., gas fees, and staking requirements). Proposals can be submitted through the Governance Application.
Step 2: Review and Consensus
Once submitted, proposals are revised by the community. The Community Forum becomes a space for constructive feedback and discussion, ensuring proposals align with community values and objectives. From here, it can move on to the next important phase.
Step 3: On-Chain Voting
After revisions, proposals move to the voting stage. $SLF holders vote using the governance token, $SLF, with voting power based on staked or bonded tokens. This ensures that the decision-making process is both secure and transparent.
Step 4: Execution
After a proposal passes, it is executed on the Self Chain mainnet, bringing the community’s decision to life.
Proposal Types
Self Chain supports various proposal types:
Text Proposal: This is for signaling community sentiment on general issues.
Parameter Change Proposal: To adjust important network parameters, like gas fees or staking requirements.
Community Pool Spend Proposal: Allocating funds from the community pool to support ecosystem initiatives.
Software Upgrade Proposal: To deploy new versions or significant upgrades of Self Chain.
Cancel Software Upgrade Proposal: To stop a previously scheduled upgrade.
Submitting Proposals
Proposals can be submitted through the Governance Application. For those who prefer a user-friendly approach, submitting proposals via the Governance Application is easy:
Access the Governance Portal
Navigate to the Self Chain Governance Portal
Connect Your Wallet
Use a supported wallet (e.g., Keplr or Leap) to connect to the platform. Which will be sent to the Self Chain mainnet to ensure you have enough $SLF tokens for proposal submission.
Create and Submit a Proposal
Fill in the proposal form with a clear title, detailed description, and any necessary parameters (e.g., recipient address, requested funds or upgrade height).
Track Proposal Status
After submission, you can monitor the status of your proposal in the Governance Portal, tracking the voting timeline, deposit phase progress, and proposal ID & details.
The Future of Self Chain Governance
This launch of the Governance Portal marks the beginning of a new chapter in Self Chain’s decentralized vision. By participating, $SLF holders will directly influence the direction of the network, from technical updates to ecosystem development.
The power to shape the future of Self Chain lies in your hands now. Get involved, submit proposals, vote, and help us build a blockchain that truly embodies the community’s views.
About Self Chain
Self Chain is the first Modular Intent-Centric Access Layer1 blockchain and keyless wallet infrastructure service using MPC-TSS/AA for multi-chain Web3 access. The innovative system simplifies the user experience with its intent-focused approach, using LLM to interpret user intent and discover the most efficient paths.
Self Chain ensures that onboarding and recovery are effortless with keyless wallets that grant users complete self-custody over their assets. In addition, it provides automated rewards to dApps when they efficiently resolve user intent, further enhancing the user experience. Moreover, Self Chain incorporates Account Abstraction with MPC-TSS to provide secure signing and reduce transaction fees. It's a platform that redefines blockchain interaction, making it more secure and user-friendly for everyone.