Ronin's governance process is conducted via a decentralized voting mechanism.
Governing Validators can propose and vote on the following types of changes:
- Upgrade smart contracts
- Change thresholds
- Add Governing Validators
- Remove Governing Validators
A governor creates a new proposal for other governors to vote on. If at least 70% of the governors approve the proposal, the change is applied.
The governance voting method is serial by design: only one governance vote can be held at a time, and that vote must be completed before moving to a new vote.
Conceptually, you can think of the governor as a cold wallet while the validator is a hot wallet.
Store your governor credentials in a hardware wallet and use them only when a vote is required. This way, attackers have a much harder time accessing your validator nodes, and the overall risk of network exploitation is significantly reduced.