The Klaytn Foundation proposes a policy to encourage GC members to actively participate in the governance of the Klaytn mainnet through on-chain voting.
- Background
Klaytn introduced on-chain voting in May 2023 by launching Klaytn Square. As of March 2024, the Klaytn Governance Council has conducted 46 on-chain votes. Of these, 43 agendas were approved, 2 were rejected, and 1 was postponed.
Although all votes met the quorum requirement, there have been varying levels of participation among GC members. While the majority of GC members actively engage in governance, some have never participated in voting since the launch of Klaytn Square. On average, 16 GC members participate in votes, with a relatively lower voting turnout in terms of voting power compared to the number of participating GC members. On average, 82 voting power units participate in votes. As of March 2024, the entire voting power of the Klaytn Governance Council is 212.
Given this context, the Klaytn Foundation proposes the following policy.
- Suggestions
- The nodes of GC members who fail to participate in three consecutive votes shall be temporarily removed from the Klaytn network. For the purpose of this policy, a Klaytn Governance Proposal (KGP) is considered as one vote. A KGP can include several voting items. The Klaytn Foundation announces the temporary removal of the nodes of the GC members from the network through the Klaytn governance forum as soon as it takes action.
- The nodes of the GC members who are removed from the Klaytn network will be reinstated as soon as they participate in any subsequent vote. Regardless of a voting participation, the removed node will be reinstated 7 days later than the removal.
- Abstentions via Klaytn Square will be considered as participation in the vote. If a GC member explained their opinion on an agenda through the governance forum without voting, it will be considered as participation in the vote.
This policy will remain in effect until the launch of the permissionless network and related policies.