Cherry
  • The Basics
    • Introduction
    • The Cherry Primer
    • Cherry Protocol
    • Cherry Token
      • Wrapped Cherry Token
  • Quickstart
    • Installing the Cherry Node
    • Create an Account
  • Cherry Stack
    • Parachain & Parathread
    • Consensus
      • Become a Validator
      • Become a Nominator
      • Unbonding and Rebonding
      • Validating FAQ
    • Governance
      • Treasury
    • Storage
      • What is IPFS
      • Application Programming Interface
    • EVM Compatibility (pEVM)
    • Identities
  • Build
    • Style Guide
  • Community
    • Ambassador Program
    • Public Grants
  • Cherry Ecosystem
    • Finance
    • Capital Partners
  • Substrate
    • Polkadot
    • Substrate
    • XCM
  • Resources
    • Glossary
    • Blockchain UI
    • Job Board
  • Official Website
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  1. Cherry Stack

Governance

Cherry uses a sophisticated governance mechanism that allows it to evolve gracefully over time at the ultimate behest of its assembled stakeholders. The goal is to ensure that most stakeholders can always command the network.

Cherry combines novel mechanisms, including an amorphous (abstract) form of state-transition function stored on-chain defined in a platform-agnostic language (i.e., WebAssembly). It also allows for several on-chain voting mechanisms, such as referenda with the novel concept of Adaptive Quorum Biasing and batch approval voting. Stake-weighted referenda must agree upon all changes to the protocol.

To make any changes to the network, the idea is to compose active token holders and the council together to administrate a network upgrade decision. No matter whether the proposal is proposed by the public (token holders) or the Council, it finally will have to go through a vote on a referendum to let all holders, weighted by stake, make the decision.

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Last updated 1 year ago