Governance Parameter Proposal

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Descriptions:

On OKExChain, there are some special parameters that can be modified through on-chain governance. OKT holdes can participate in on-chain governance of parameter modification. If the community is not satisfied with some modifiable parameters, the members can initiate a parameter change proposal. The processes involved in parameter upgrade proposals are the same as those involved in text proposals.

Those parameters are divided into two categories, namely system parameters and business parameters. System parameters refer to the parameters specified on OKExChain, and the modification of business parameters are based on parameters of data created by OKExChain, such as the minimum precision of the unit of the cryptocurrency issued on OKExChain. The current business parameters are not subject to modification.

  1. The parameter change proposals in relation to system parameters can only be initiated by validation nodes.
  2. The parameter change proposals in relation to business parameters can only be initiated by token owners, and only owners can pay deposits.
  3. The minimum deposit for a parameter change proposal is 2000okt.
  4. When parameter change proposals are initiated, effective block heights must be specified.
  5. Past block heights cannot be specified. If the block heights are no longer effective when the proposal are approved, immediate execution is required.
  6. After business parameter change proposals are passed, deposits are collected by validation nodes.

System parameters

Modifiable parameters on gov module:

Parameters Type Descriptions
TextMaxDepositPeriod time deposit period for text proposal
TextMinDeposit DecCoins deposit limit for text proposal
if the proposal deposit exceeds this value, the Voting Period will be effective
TextVotingPeriod time voting period for text proposal
ParamChangeMaxDepositPeriod time deposit period for parameter change proposal
ParamChangeMinDeposit DecCoins deposit limit for parameter change proposal
if the proposal deposit exceeds this value, the Voting Period will be effective
ParamChangeVotingPeriod time voting period for parameter change proposal
ParamChangeMaxBlockHeight int64 block height specified for automatically activating the token listing does not exceed the sum of the current block height and ParamChangeMaxBlockHeight
AppUpgradeMaxDepositPeriod time deposit period for app upgrade proposal
AppUpgradeMinDeposit DecCoins deposit limit for app upgrade proposal
if the proposal deposit exceeds this value, the Voting Period will be effective
AppUpgradeVotingPeriod time voting period for app upgrade proposal
Quorum Dec weight threshold for voting on the entire network when the voting period ends used for voting statistics
Threshold Dec weight threshold for the proportion of Yes votes to all non-abstained votes when the voting period ends used for voting statistics
Veto Dec weight threshold for the proportion of NoWithVeto votes to all votes used for voting statistics
YesInVotePeriod Dec weight threshold for the proportion of Yes votes to all votes (including the voted and unvoted) before the voting ends,
used for voting statistics
MaxTxNumPerBlock int64 maximum number of transactions contained in each block

Modifiable parameters on token module:

Parameters Type
ListAsset Dec
IssueAsset Dec
MintAsset Dec
BurnAsset Dec
Transfer Dec
FreezeAsset Dec
UnfreezeAsset Dec
ListPeriod time
ListProposalMinDeposit Dec

Modifiable parameters on order module:

Parameters Type Descriptions
OrderExpireBlocks int64 order expiration parameters covering the data of orders that automatically expire after passing certain blocks
MaxDealsPerBlock int64 limit on the number of orders matched per block
NewOrder Dec order fee set as 0
Cancel Dec order cancellation fee (equivalent to the number of okt when okt is not the cryptocurrency for payment)
CancelNative Dec order cancellation fee (the number of okt to be paid)
Expire Dec order expiry handling charge (equivalent to the number of okt when okt is not the cryptocurrency for payment)
ExpireNative Dec order expiry handling charge (the number of okt to be paid)
TradeFeeRate Dec order transaction fee rate (when okt is not the cryptocurrency for payment)
TradeFeeRateNative Dec order transaction fee rate (when okt is the cryptocurrency for payment)

Modifiable parameters on staking module:

Parameters Type Descriptions
UnbondingTime time wait time for undelegation
MaxValidators uint16 maximum number of validators allowed
KeyMaxEntries uint16 Maximum number of transactions allowed for undelegation and re-delegation by the same delegator during unbondingtime
  • Note:
    1.time: Valid time units are “ns”, “us” (or “µs”), “ms”, “s”, “m”, “h”. such as “300ms”, “-1.5h” or “2h45m”.
    2.DecCoins: It is composed of a floating-point number and a token unit, eg. 100.00okt.
    3.Dec: The float value is rounded to the nearest 8 decimal places, eg. 0.334.