Proposals and Voting

fact Based on the governance contract sources. Both governors are OpenZeppelin v5.1 Governor with GovernorSettings, GovernorCountingFractional, GovernorVotes(veNOTE), GovernorVotesQuorumFraction and governance execution control. UpgradeGovernor is a NoteGovernor subclass with constructor floors.

Two Governors, Two Governance Delays

Both governors share CLOCK_MODE = mode=timestamp and COUNTING_MODE = support=bravo,fractional&quorum=for,abstain&params=fractional. The floor constants are MIN_VOTING_PERIOD = 7 days, MIN_QUORUM_NUMERATOR = 8 and the minimum governance delay.

The UpgradeGovernor constructor rejects quorum, voting-period or governance-delay values below its floors. Later changes to the voting period and quorum must also respect their minimum values.

proposalThreshold() is max(proposalThresholdAbsolute, getPastTotalSupply(clock() − 1) × bps / 10,000). The supply is read one second in the past because IVotes.getPastTotalSupply requires a past timepoint. setProposalThresholdBps is onlyGovernance and emits ProposalThresholdBpsSet(previous, current); values above 10,000 revert InvalidBps.

Lifecycle

1. Propose. propose(targets, values, calldatas, description). The proposer must hold at least the threshold in veNOTE at clock() − 1. Descriptions start with # <title> and include a ## Risk section so the app and indexers can render them consistently.
2. Pending for votingDelay (1 day). The vote snapshot is taken at the end of this delay, so locks created after propose still count if they exist at the snapshot. The proposer may cancel in this state.
3. Active for votingPeriod. Anyone with weight at the snapshot casts a vote.
4. Succeeded if for-votes exceed against-votes and for + abstain reach quorum; otherwise Defeated.
5. Queued by queue(). Governance records the operation on-chain for the full minDelay. The guardian may cancel it before execution; the governor then reports the cancelled state.
6. Executed by anyone calling execute() after the delay. EXECUTOR_ROLE is address(0).

Voting

castVote(id, support) with support 0 = against, 1 = for, 2 = abstain, and castVoteWithReason, are the ordinary paths. Because both governors use GovernorCountingFractional, a voter can split weight across the three options in one transaction:

// support = 255 selects fractional mode; params packs three uint128 weights
governor.castVoteWithReasonAndParams(
    proposalId,
    255,
    "60/25/15 split",
    abi.encodePacked(uint128 againstVotes, uint128 forVotes, uint128 abstainVotes)
);

The three weights must not exceed the voter’s weight at the snapshot. Fractional mode also lets a voter cast in several transactions, as long as the running total stays within their weight. Votes cannot be changed once cast in nominal mode.

Governance Delays

fact Parameter changes and upgrades use separate delayed governance execution paths.

Because admin is renounced, granting or revoking a governance role is itself a governed operation on that same governance. Changing minDelay uses updateDelay, which only the governance can call on itself.

Security Council

The guardian is the Security Council role on each Governed module. It can cancel queued governance actions, subject to the limits below.

A pause stops strikes and observations but does not itself disable the listed exit functions. Each exit still needs its required series state, matured request or claimable balance. A live note is not redeemable merely because the core is paused. Governance must resume paused activity; there is no promised resumption time.

Reading a Proposal in the App

The app’s Governance section lists proposals from both governors with their state, timeline and vote bars, and shows every pending operation on both governance delays with its execute time. Pending operations that renounce ownership of a module or hand a role to an unknown address should be treated as red flags; the contract documentation records renounceOwnership as forbidden by process because a scheduled renounce would make unpause impossible.