governance

Multichain Governance

The Multichain Governance allows voting on all networks where Moonwell is active, like Moonbeam and Base. Its main objective is to execute proposals on Moonbeam, and if they are cross-chain, their payload will be relayed to another chain for execution by the Temporal Governor.

There are two main components in the Multichain Governor architecture:

1. Multichain Governor: The main contract deployed on Moonbeam that handles the creation, voting, and execution of proposals.
2. Vote Collection: The contract that handles the collection of votes from external chains and emits them to the Governor contract.

sequenceDiagram
    Actor User
    participant MultichainGovernor
    participant VoteCollection
    User->>MultichainGovernor: create proposal
    MultichainGovernor-->>VoteCollection: create proposal
    par Voting Period
        User->>MultichainGovernor: vote
        Note over User,MultichainGovernor: WELL, stkWELL, Vesting WELL and <br/>xWELL can be used for voting
        User->>VoteCollection: vote
        Note over User,VoteCollection: stkWELL, and xWELL can be used for voting
    end
    par Cross Chain Vote Collection Period
        User->>VoteCollection: emit votes
        VoteCollection-->>MultichainGovernor: emit votes
    end
    opt For votes reached quorum
        User->>MultichainGovernor: execute proposal
    end

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Once the voting period ends, external chain votes can be emitted by anyone to be counted on the Moonbeam Governance Contract. The Governor contract will validate it and update the vote counts accordingly. After the cross chain voting collection period ends and if proposal passes, it can be executed by anyone.

graph LR
    mg((MultichainGovernor)) -- Publish proposal creation message --> wc{WormholeCore}
    stkWell[stkWELL] -- Cast Votes --> mg
    well[WELL] -- Cast Votes --> mg
    vWell[Vesting WELL] -- Cast Votes --> mg
    xWell[xWELL] -- Cast Votes --> mg

    wc -- Send proposal creation message --> vc((VoteCollection))
    xWellBase[xWELL] -- Cast Votes --> vc
    stkWellBase[stkWELL] -- Cast Votes --> vc
    vc -- Emit votes --> wc
    wc -- Receive votes --> mg

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Multichain Governance relies on the Wormhole bridge to relay the proposal creation and vote collection messages to the external chains.

Cross Chain Voting

The new governance period system removes the need for the queue function, as the different periods are measured based on the proposal creation timestamp. Proposals are automatically queued if the cross-chain vote collection period ends, and it meets the success criteria. Any additional vote counts received between the voting period end and proposal execution time could modify the success status to failure, which would block execution.

Once the cross-chain vote collection time execution time has been reached, no more votes can be submitted, and the proposal status is final. If passed, it can be executed. If failed, it cannot. Votes can only be counted before the final execution time, not after. This means that if enough no votes from an external chain are recorded one second before a proposal would pass, the proposal could become either failed or succeeded from its previous state.

Proposal Status

A proposal can be any of the following status:

• Active: This means that the proposal is currently in the voting period.
• CrossChainVoteCollection: The voting period has ended, and the proposal is now waiting for cross-chain votes.
• Cancelled: The proposer has canceled or anyone can cancel if the proposer voting power has become lower than the minimum proposal threshold.
• Defeated: The proposal has been defeated, the amount of against votes plus the amount of abstain votes is higher or equal than governance quorum.
• Succeeded: The proposal has passed, the amount of for votes plus the amount of abstain votes is higher than governance quorum.
• Executed: The proposal has been executed. If the proposal is cross-chain, the payload will be relayed to the Temporal Governor for execution on the target chain.

Execution

graph LR
    mg((MultichainGovernor)) -- Publish execution message --> wc{WormholeCore}
    dm[Defender Monitor] -- Read Wormhole publish event emission --> wc
    dm -- Trigger queue autotask --> da[Defender Autotask]
    da -- Queue VAA --> tg((Temporal Governor))
    da -- Execute VAA --> tg

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The execution of a proposal can be done by anyone, and it will be done by calling the execute function on the Governor contract. This function will check if the proposal has passed and if it has not been executed yet. If the proposal is cross-chain, a VAA will be generated by Wormhole which can be queued and executed on the Temporal Governor of the target chain.