Polkadot OpenGov launched on Polkadot on June 15th 2023 - It represents the next phase of Polkadot governance, bringing the next generation of fully decentralized, unstoppable, and open governance to Web3.
It’s much more efficient than the previous governance system, and all central decision-making bodies were removed. Now, full control of Polkadot and its treasury has been handed over to the community, and their decisions are automatically carried out, on-chain.
Polkadot OpenGov plays a major role in: Decentralization, unstoppability, on-chain intelligence, and future-proofness (through upgradability).
<iframe width="560" height="315" src="https://www.youtube.com/embed/Iv7b4ZxUzoM?si=I9TTfSydSJiErcx4" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>Here are some great links for learning more as well as screenshots to explain visually how the process works.
Polkadot OpenGov | The Pinnacle of Blockchain Governance | Polkadot
Polkadot’s “How-to” AMA session dedicated to Polkadot OpenGov
Polkadot OpenGov · Polkadot Wiki
The wiki has a very detailed guide on Polkadot OpenGov
A referendum must go through three stages for it to be enacted.
There are many different tracks, each with their own support and approval curves. Some of them also have different lead in, decision and enactment periods as seen below.
For a proposal to move from the decision period to the enactment period, the voting turn out (support) needs to be met.
Different tracks have different curves as pictured above.
Here is a short video explaining how the curves work.
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