How are changes to monetary policy approved on STORE?
Proposals to alter either the STORE First Treasury or the economics of the STORE computer must pass through a series of checks and balances. These proposals start with the Judicial Branch.
The Judicial Branch is the only Branch with the power to make proposals, as they are primarily responsible for studying monetary policy. Once the Judicial Branch makes the proposal to the miners, it follows normal governance voting procedures, the same way all other proposals do.
Next, the Miners vote on the proposals put forward by the Judicial Branch. The proposal is successful if 2/3 consensus is reached by miners who vote on the network.
This process ensures the long-term credibility of the decentralized monetary system and long-term stability of the STORE protocol.
High-level overview of the process:
Last modified 1yr ago