Satellite Governance
Shaping the Orbit: Understanding Satellite Governance
Last updated
Shaping the Orbit: Understanding Satellite Governance
Last updated
The Satellite Governance protocol is a swift and dedicated governance mechanism operating separately from the main governance protocol.
Its role is to oversee the governance of Maven Finance's Satellites and oracles.
The Satellite Governance process consists of two critical stages:
Any Satellite within the ecosystem can initiate a new governance action at any time. The following list provides examples of possible governance actions:
Satellite Governance Actions:
Suspension of a Satellite
Banning of a Satellite
Restoration of a Satellite (from suspension or banning)
Satellite Oracle Governance Actions:
Removal of All Satellite Oracles (from Aggregators)
Addition of an Oracle to an Aggregator
Removal of an Oracle from an Aggregator
Aggregator Governance Actions:
Setting an Aggregator Reference
Pausing or Unpausing an Aggregator
Mistaken Transfer Governance Action:
Correction of a Mistaken Transfer of tokens by a user to a Contract
After the creation of a governance action, it becomes available for voting by other Satellites within the ecosystem for the subsequent 3 days.
Upon the accumulation of votes surpassing the threshold (67% of Total Staked MVN Supply for the current Governance Cycle), the Satellite Governance Action is automatically approved and executed.
Note: The voting duration of 3 days and threshold percentage of 67% are adjustable through the standard governance process
Satellites can be designated with one of the following statuses:
For Active Satellites, all functionalities are fully operational.
Suspended Satellites lose the ability to participate in any form of governance voting and are eliminated as an oracle in all subscribed aggregators. They retain the ability to update their Satellite record details but cannot unregister as a Satellite.
Banned Satellites are prohibited from participating in any form of governance voting and are removed as an oracle in all aggregators to which they are subscribed. They lose the ability to unregister as a Satellite and cannot update their Satellite record details.
