FLX holders can participate in the governance of the protocol by interacting with the Flux DAO. Proposals can be made to add or remove request interfaces, upgrade parts of the system, change network parameters, and grant funding.
When a quorum is reached for any proposal for Request Contract whitelisting, a 24-hours grace period must elapse before the proposed changes to the registry can be implemented. This period is intended to allow validators who do not agree with the proposal to exit their position. The community can also amend the quorum threshold and approval requirements of the DAO as deemed fit.
The minimum consensus for whitelist approval is 70% of all votes. The voters must make up 10% of the FLX circulating supply and the voting round must also be completed within 168 hours.
Though we don't require the use of the Flux DAO for the testnet, stay tuned for more announcements on how to get involved with the DAO!