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Governance

The native social signalling governance token is DT. The staked total of these tokens represent the total voting power of the network.

On top of the onboarding requirements for validators, see chapter on verifiable data notarisation, D-Chain governance is designed to onboard accountable DApps.

Smart contract deployment module (for deploying DApps) are permission-ed, i.e. decentralised applications legal entities must be onboarded and acquired relevant verifiable credentials for its deployment. Similarly, the registration of notary, state transition utilities, token factory registration, all have the same requirements.

DApps as part of the Validator set​

As part of D-Chain application deployment requirement, DApp are also expected to provide validation services.

This is a beneficial requirement for compliant and/or regulated services for several reasons:

  • transparently demonstrate the approval or rejection to state changes in their applications
  • have stake in the control of the network, i.e. perform governance tasks (see Oversight Committee)
  • be compensated in otherwise already required tasks; it is likely that such applications must provide transaction data archival to regulating bodies, by running validators, they are rewarded by transaction fees and inflation rewards to support their infrastructure costs

Oversight Committee​

The governance of D-Chain falls into 2 categories that balances the requirements for progressive decentralisation and regulatory compliance:

  • Staked Token Holder Governance: Proposals can be made by token holders with a deposit of DT tokens (to prevent protocol being flooded with proposal), and voted on by the token holders. By default, the approval of these these proposals are executed onchain after a defined cooling period.
  • Oversight Committee Multisig: A Governance Multisig has veto power over the proposal execution within a given cooling period. Furthermore, the participant in this committee (made up of the DApps) can propose and execute a clearly defined set of actions on D-Chain. This is to ensure that the network can respond to regulatory requirements in a timely manner.