Ownership and governance in the Braintrust Network is represented by the BTRST token.
Adam Jackson breaks down what Governance means for Braintrust.
Governance at Braintrust is a system and process that allows anyone from the community to propose an idea that can improve Braintrust. (Here's a fun example: changing payment providers for payment processing.)
It all starts with an idea that materializes into a “proposal”, which is a write-up of the idea in more details with some description and argumentation to make the case.
Members from the community then express their opinion on the proposal by voting on it with the BTRST tokens that they hold in their crypto wallet, which will act as votes signaling voting power to their vote. The more BTRST tokens you have, the more voting power you will have when casting your vote.
If the results of the voting process for a proposal are favorable, the proposal gets executed via code on the blockchain and a new governance of Braintrust goes live!
Exercise your control over the network by proposing and voting on changes. Vote using your BTRST tokens (the more tokens you have, the greater your voting power) without actually spending tokens.
Get set up early! You must connect to Snapshot.org before a proposal is posted in order to vote.
- 2.Ensure Tokens are in your wallet --> Learn how to Withdraw tokens from your Braintrust Platform Wallet.
2. Vote Off-Chain
3. Vote on Chain
The purpose of this initial stage is to propose and vet ideas that community members have and decide which ideas are ready to go to “Phase 2: Vote off-chain” for a more formal voting.
When an idea is well supported with positive feedback in discord conversations, it is time to write the idea up in a “proposal” and invite the community to vote on it.
Off-chain voting consists of two sub-phases: Temperature Check followed by Consensus Check.
For proposals that do not require coding to blockchain’s smart contracts (for example product improvements), it should not go through on-chain voting, and the proposal moves to Phase 4: Execute.
For proposals that do require coding changes to the blockchain’s smart contracts, the proposal will require going through this Phase 3: On-Chain Voting. The purpose of the on-chain voting is to establish formal voting around a proposal that passed Phase 2.2: Consensus Check. This is the last step in the governance process before moving to Phase 4: Execute.
The final phase of governance is the Execution Period, also called Enactment Period or Time Lock. At the end of the on-chain voting period of the previous step, the on-chain proposal enters a time lock period of 7 days during which it must be executed.