Governance Overview

MAGNE Governance

MAGNE’s decentralized governance system empowers $MHA token holders to steer protocol-level changes including Reward Vault approvals, native dApp configurations, and PoW distribution logic.

Use Cases for Governance:

• Whitelisting Reward Vaults (e.g. staking/incentive token approvals)
• Configuring native dApps like MAGNESwap (e.g. fee structure)
• Adjusting PoL distribution curves or parameters
• Upgrading system-level settings or timelock durations

---

Governance Lifecycle

MAGNE’s governance is based on OpenZeppelin’s battle-tested contracts, providing a secure and transparent multi-phase lifecycle:

1. Proposal Creation

   Any account with sufficient voting power may initiate a proposal

2. Pending State

   Proposals enter a brief 1-hour delay before becoming active for voting

3. Voting Phase

   $MHA holders (or their delegates) can cast votes during the 5-day voting window

4. Proposal Outcome

   If quorum and majority thresholds are met, the proposal is marked as Succeeded

5. Timelock Queue

   Successful proposals enter a 2-day delay queue before execution

6. Execution

   Once timelock elapses, the change can be implemented on-chain by any actor

---

Guardian Oversight

To protect the protocol from malicious behavior, MAGNE uses a 5-of-9 Guardian Council with the authority to cancel dangerous proposals during the timelock phase (e.g., unauthorized upgrades or asset seizure).

---

Creating Your Governance Proposal

1. Ensure You Meet the Voting Threshold

   You need at least 10,000 $MHA worth of delegated voting power

2. Delegate to Yourself

   You must explicitly delegate $MHA (even to yourself) to unlock governance rights

3. Prepare the Proposal Payload

   For example, a Reward Vault proposal must include the vault address and correct function call (e.g., addRewardVault(address))

4. Submit the Proposal

   Submit through the on-chain governance contract or via the MAGNEHub UI

5. Promote the Proposal

   Engage the community to build awareness and gather votes

6. Execute After Timelock

   If passed, any user can trigger execution after the 2-day delay

---

Governance Parameters (Default)

Reward Vault proposals may follow a simplified governance path. See the Reward Vault Governance Docs for details.