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

  1. 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.

  2. Voting Period: Proposals enter a ~1 week voting window (For / Against / Abstain).

  3. Execution: If quorum and majority are achieved, proposals are queued in the Timelock and executed after a delay.

  4. 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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