The Increment governance token (INCR) is used by the community to vote, govern, and curate essential infrastructure components of the Increment ecosystem as described in this previous governance discussion regarding token creation and distribution.
Increment implements OpenZeppelin Governor - a governance model of delegated voting. This model is similar to Alpha/Bravo the governance smart contract that was first built by Compound in 2020. This governance contract along with a few other distinct modules establish a decentralized, on-chain framework allowing the community to modify system parameters, support new markets, or add entirely new functionality to the protocol. In other words, under this framework no single entity or administrator should have the privilege to make changes to the protocol without an on-chain vote and execution.
Increment governance will begin on Ethereum mainnet where the governance infrastructure and tooling is much more mature. In addition, zkSync Era is quite young, while Ethereum mainnet has been battle tested for years, which makes us more confident in its security. While Increment governance will be implemented on Ethereum mainnet and the Increment protocol will be deployed on zkSync Era, the L1 to L2 communication feature on zkSync will allow the governance contracts on Ethereum mainnet to communicate with the core protocol contracts on zkSync Era.
With the delegated governance model implemented, token holders can vote on proposals or delegate their voting power to other members of the community to vote on their behalf. Delegation does not lock or transfer tokens; holders can withdraw their delegation at any time.
- Proposal creation: Hold at least 100 INCR
- Quorum needed: 400,000 INCR
- Voting period: 7 days
- Execution timelock: 2 days
Last modified 19d ago