Babylon Governor enables anyone who holds $BABL, Babylon’s governance token, to submit proposals and vote on protocol-level decisions, beginning with treasury management.
The treasury receives 5% of profits and 0.5% of capital allocated through Babylon. 69% of the total supply of $BABL is reserved for the community and we expect the first governance proposals to be submitted in the coming weeks to allocate treasury capital to the benefit of the protocol and its users.
Babylon Governor marks the first mainnet deployment of Open Zeppelin’s Governor. The contract is compatible with Governor Alpha and Bravo, and we are using Tally to provide a simple user interface to delegate votes, create proposals, and cast votes on proposals.
- New proposals are discussed in a dedicated Discord channel
- Discord and/or Snapshot (to be added later) is used for signal voting on proposals
- Proposals (with code) are submitted to Babylon Governor and voted on with Tally
- Voting delay: 1 blockTime from proposal submission to start of voting period)
- Voting period: 1 weekHow long proposals can be voted on.
- Quorum: 40,000 $BABL (4% of supply)How many votes are needed to pass a proposal.
- Proposal threshold: 5,000 $BABL (0.5% of supply)Tokens required to submit proposal