Network & Token Upgrades

Meta
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Governance proposals discussions for proposals will eventually evolve to be voted on by WCT stakers to reach consensus through Snapshot. However some proposals will require upgrades at the Network level or even at the Token level. These upgrades will then have their own processes to be delivered according to the community vote.

Network Upgrades

Whenever there is a proposal that is approved by community vote that requires a Network upgrade then it will be communicated with all the node operators about the changes required in the proposal and they will coordinate according to reach consensus regarding the timing to perform the network upgrade within a reasonable expectation.

Once there is consensus over the execution timeframe for the Network upgrade then it can take up to 3 days for all node operators to prepare for the changes to be live offchain.

Token Upgrades

Whenever there is a proposal that is approved by community vote that requires a Token upgrade then it will be communicated with all the multisig signers about the changes required in the proposal and they will coordinate according to reach consensus regarding the timing to perform the network upgrade within a reasonable expectation.

Once there is consensus over the execution of the Token upgrade then it will require 5 out 7 signatures to perform the changes onchain and after submitted onchain there is a 7-day waiting period for the changes to take effect.

This 7-day waiting period is important to give all participants enough time to prepare for the onchain changes and also to allow multisig signers to revert these changes in case any unexpected circumstances warrant this upgrade to be stopped.

35 Likes
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Very excited!!!

Please most of us dont understand how voting will be done, can you please explain to us?

Cause community stakers voting is about 14.2% if we all staked 100% of the distributed tokens
Team and early supports are about 85.4%

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The article provides a well-structured and transparent approach to governance, ensuring that both network and token upgrades follow a clear and decentralized decision-making process. This is essential for maintaining trust and stability within the WCT ecosystem.

I fully agree with the approach of coordinating with node operators and multisig signers to reach consensus on upgrade execution. The inclusion of a 7-day waiting period for token upgrades is also a smart safeguard, allowing ample time for participants to prepare and even revert changes if necessary.

This governance model sets a strong foundation for the project’s long-term sustainability, and I look forward to seeing how the community continues to shape its future! :rocket:

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Wow amazing…
Update transfer :grin:

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vote
the biggest tolen 2025

3 Likes