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README.md

Demo of VeChainThor On-chain Governance - Changing the Reward Ratio

This demo simulates the on-chain governance that change the network parameter reward ratio. The process consists of three steps: decision making, authorization and execution. The first step is carried out on-chain by an instance of DummnyVotingContract while the second two steps conducted also on-chain via the deployed built-in contract Executor.

The demo shows step by step how to do the required on-chain operations (functions that implement the operations are shown in brackets):

  1. To register the voting contract to the built-in contract Executor:

    1. To deploy the voting contract (deployVotingContract)
    2. To propose a proposal of attaching the voting contract (proposeAttachingVotingContract);
    3. To approve the proposal (approveProposal);
    4. To execute the proposal (executeProposal);
  2. To make a decision through on-chain voting:

    1. To initialize a vote (initVote);
    2. To tally the vote (tallyVote);
    3. To execute the vote, which automatically submits a proposal for changing reward ratio to Executor (executeVote);
  3. To authorize the execution of the voted action:

    1. To approve the proposal (approveProposal);
    2. To execute the proposal (executeProposal).

Terminology in Code

  • approver / approvers - member(s) of the governing body;
  • authority - built-in contract Authority that manages the list of validators;
  • executor - built-in contact Executor;
  • dummyVotingContract - registered voting contract;
  • voters - accounts conducting operations of the dummy on-chain voting.

Prerequisites

This demo should be run on a customized version of VeChainThor. Related Thor-node commands can be found in ./nodeLaunchCmd. The definition of the network can be found in ./customChainConfig.json. The following lines are added to allow the customized VeChainThor to be compatible with the latest version of EVM released in Ethereum Constantinople.

"ForkConfig": {
    "ETH_CONST": 0
}

Basically, it tells the system from what height it has to switch to the latest version of EVM.

YOU MUST REPLACE all the authorityAddress with the master addresses of the Thor node launched by you to make the demo work. The master address can be obtained by command:

thor master-key --config-dir <KEY_DIR>

Please refer to my previous article 'What you might not know about VeChainThor yet (Part V) - Customizing Your Own VeChainThor' for details.

Demo Output

executor address: 0x0000000000000000000000004578656375746f72
0. Check current reward ratio
    Reward ratio: 30%
I. Deploy voting contract
    TX Sender: 0xcb43d5d874893a67d94cdb0c28e2a93285f56ff0
	txid: 0x4acbdb3ddf094dcaa4178c173ab4b586b688fb39a89a3dae78d627aab9c9a14a
	Address:0x69da604675b7ad6249cc5e7093ced212ded74eec
II. Register deplyed voting contract
I.1. Propose to attach deployed dummny voting contract
    TX Sender: 0x7d350a72ea46d0927139e57dfe2174d7acaa9d30
	txid: 0x70fd5498354d5b8640afbccde15f60da20559bb8e61125b2a09cd5db3c3c2419
	proposalID: 0xbf04e4cf2b6e208e965007f9add1b0937b46199e033100556772ccc239ef9164
II.2. Approve proposal
    Approver: 0xcb43d5d874893a67d94cdb0c28e2a93285f56ff0
	txid: 0x26dde198e6eeb5fb43f4c8ce402c9e8201446853ddd3b63f7ffcf860c985b64d
	Approver: 0x7d350a72ea46d0927139e57dfe2174d7acaa9d30
	txid: 0xe206405d21728a67d93cfd5222770f465ceb179f21e1274fc959a5c3a94b1a46
	Approver: 0x62fa853cefc28aca2c225e66da96a692171d86e7
	txid: 0x8e79ece9b96d8824d3ff80ee4f91663376f32b1043a761deec7ce132b95f7a11
II.3. Execute proposal
    TX Sender: 0x62fa853cefc28aca2c225e66da96a692171d86e7
	txid: 0x315c8ca567b42f9bd781d16c85e7cc3c1204b95d3b43e5e34ba440c2728538be
II.4. Check whether voting contract has been attached
    success
II. Init vote to change reward ratio from 30% to 40%
    TX Sender: 0xfa580a85722b39c500a514c7292e9e5710a73974
	txid: 0x5ed03f252ee84f4d1c82eff4885e8be4a90b4c9d5fd9ebaad7d1a2e1257bbebf
	voteID: 0xe5dd8e896836f357347fd8a0a158529f922d2ad4a8e398661cff3e2c467186e0
IV. Tally
    TX Sender: 0xfa580a85722b39c500a514c7292e9e5710a73974
	txid: 0xb3808ba8882c66716085e8fa4342de69f1f780af98ed77abf107aad348c4bd1e
V. Submit a proposal of executing the voted action for final approval
    TX Sender: 0xfa580a85722b39c500a514c7292e9e5710a73974
	txid: 0x4799c33027a811fe5a5bc6f53ac521639e5e97fa2e7aa659b12116e6ebf5f918
	ProposalID: 0xe3fa889f277820e9949c483d99bdd4fedd3847d02d6ba2ddcb51a966d4820503
VI. Authorize vote action
    Approver: 0xcb43d5d874893a67d94cdb0c28e2a93285f56ff0
	txid: 0xfc392ec5549b5c90d2947a01d64376400449a2b998c0458a054751e3f9154aea
	Approver: 0x7d350a72ea46d0927139e57dfe2174d7acaa9d30
	txid: 0xd02115e7a5088613cf20ec8fb017c560fcc96cbd4c034b5f5d8e48cf92a16787
	Approver: 0x62fa853cefc28aca2c225e66da96a692171d86e7
	txid: 0x7e860c286b33ebea2347ca7359077b6419086784b77a022c322d22b91561291e
VII. Execute vote action
    TX Sender: 0xfa580a85722b39c500a514c7292e9e5710a73974
	txid: 0x77c7184cc19ccac557ce39ff31d4a60cb999031127b32d152d873d69ccfce30d
VIII. Check new reward ratio
    Reward ratio: 40%
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