Governance action
Cardano’s Voltaire - Glossary: key terms explained
A governance action is an on-chain event triggered by a transaction. Governance actions have an expiration period, after which the action cannot be enacted.
Any ada holder can submit a governance action for a vote on-chain. Once the action is recorded on the ledger, voters submit voting transactions. A governance action will be enacted once it is ratified (see below).
CIP-1694 defines seven different governance actions:
1. Motion of no-confidence
2. New constitutional committee and/or threshold and/or term limits
3. Updates to the Constitution
4. Hard fork initiation
5. Protocol parameter changes
6. Treasury withdrawals
7. Information
Last updated