Astral Assembly goes live on Terra 2

Today, the doors of Astroport’s governing body, the Astral Assembly, open. And that means all astronauts can enter to help shape the future of Terra 2.0’s most popular swap protocol.

With staked ASTRO tokens (xASTRO) in hand, visit app.astroport.fi/governance to:

  • Create governance proposals to upgrade the protocol or allocate funds in the DAO treasury

Today’s deployment also includes:

  • Migrating complete control over the protocol’s Terra 2.0 smart contracts to the Astral Assembly.

With this upgrade, Astroport on Terra 2.0 realizes its vision as a decentralized public good. Humans, frogs and extraterrestrials anywhere in the universe now have the ability to modify Astroport by following the recommended Astroport Improvement Process (AIP) described below.

The Astroport Improvement Process (AIP)

All Astroport upgrades and coordination are designed to flow through the Astroport Improvement Proposals (AIPs) process.

This multistep approach (outlined in Github) gives xASTRO holders the ability to create, provide feedback, and vote for or against proposed changes to the protocol. Below is a high-level summary of the AIP process:

  1. Conceive and document an idea.

The Astroport voting process

Creating a votable on-chain proposal can be done by interacting with Astroport’s smart contracts or submitting the proposal via the UI at app.astroport.fi/governance.

To be eligible to vote, an Astral Assembly member must have held xASTRO at least 1 block before the on-chain proposal was submitted. Proposers cannot vote on their own proposals. All votes must be executed on-chain; if desired, the UI at app.astroport.fi/governance offers a convenient interface.

For a vote to pass, it must meet the following parameters:

  • Quorum: At least 10% of all votable tokens (xASTRO in circulation + locked builder allocation) must participate.

Astroport Deployments

Remember that there are two versions of Astroport: one on Terra Classic and one on Terra 2.0. ASTRO tokens are exclusively used to govern the Astroport instance on Terra 2.0 while ASTROC tokens govern Astroport on Terra Classic.

Closing thoughts

With the full launch of governance, Astroport on Terra 2.0 now belongs to chads, frogs, humans and extraterrestrials everywhere so long as they hold xASTRO.

Where we go from here rests in all of our 🙌. Let us explore the boundaries of the possible together by entering the Astroport Forum now.

Follow Astroport on Twitter and subscribe to the Astroport email newsletter to get the latest alerts from the mothership.

DISCLAIMER

Remember, Terra 2.0 and Astroport are experimental technologies. This article does not constitute investment advice and is subject to and limited by the Astroport disclaimers, which you should review before interacting with the protocol.

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An automated, decentralised exchange protocol on the Terra blockchain. http://astroport.fi

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