Governance
Governance on OpenLedger is powered by an on-chain system using OpenZeppelin’s modular Governor framework. OPEN token holders actively participate in protocol direction and upgrades.
Core Components
Native OPEN : The native coin of the OpenLedger L2 network.
GOPEN Token: A governance-enabled version of OPEN supporting delegation and vote tracking (ERC20Votes).
Governor Contract: Manages proposals, quorum enforcement, and voting.
Timelock Controller: Adds a delay to the execution of passed proposals to ensure safety and review time.
Governance Workflow
Proposal Creation: OPEN holders convert their tokens to GOPEN (the governance token). Any address holding or delegating at least the proposal threshold of GOPEN can create protocol change proposals.
Voting Period: Proposals enter a ~1 week voting window (For / Against / Abstain).
Execution: If quorum and majority are achieved, proposals are queued in the Timelock and executed after a delay.
Delegation: Token holders can delegate voting power, enabling passive governance participation.
Governance Interface
We’re also launching a governance dashboard (e.g., via Tally.xyz) where token holders can
Submit and review proposals
Vote or delegate
Track proposal execution and history
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