Governance System

The Gold Digger governance system allows $GOLD token holders to participate in the decision-making process for the platform. This document outlines how the governance system works, how to participate, and best practices.

Governance Overview

Gold Digger implements a decentralized governance model that enables token holders to propose and vote on changes to the platform. The governance system is built on the Solana blockchain, ensuring transparency and immutability.

Key Components

• Proposals: Suggestions for changes to the platform, including feature additions, parameter adjustments, and treasury allocations.
• Voting: The process by which token holders express their support or opposition to proposals.
• Execution: The implementation of approved proposals through on-chain transactions.
• Treasury: A pool of funds controlled by governance for platform development and maintenance.

Participation Requirements

To participate in governance, you need:

• $GOLD Tokens: You must hold $GOLD tokens to create proposals and vote.
• Staked Tokens: Some governance actions require tokens to be staked for a minimum period.
• Connected Wallet: A Solana wallet (like Phantom or Solflare) connected to the platform.

Proposal Process

Creating a Proposal

To create a governance proposal:

1. Navigate to the Governance section of the platform.
2. Click "Create Proposal" and fill in the required information:
   • Title: A concise description of the proposal
   • Description: Detailed explanation of the proposal
   • Actions: Specific on-chain actions to be executed if approved
   • Voting Period: Duration of the voting period (typically 3-7 days)
3. Stake the required amount of $GOLD tokens (minimum 1,000 $GOLD).
4. Submit the proposal for review.

Voting on Proposals

To vote on a proposal:

1. Navigate to the Governance section and browse active proposals.
2. Select a proposal to view its details.
3. Click "Vote" and choose your position (For, Against, or Abstain).
4. Confirm the transaction in your wallet.

Your voting power is proportional to the number of $GOLD tokens you hold or have staked. Staked tokens receive a 1.5x voting power multiplier.

Proposal Execution

If a proposal is approved (more than 50% of votes in favor and quorum reached), it enters the execution phase:

1. The proposal is marked as "Approved" in the governance dashboard.
2. A timelock period of 24 hours begins to allow for security reviews.
3. After the timelock, the proposal can be executed by any community member.
4. The on-chain actions specified in the proposal are executed automatically.

API Integration

Developers can integrate with the Gold Digger governance system using our API. This allows for building custom interfaces, analytics tools, and automated voting systems.

Governance API Endpoints

Example API Usage

// Fetch active proposals
const response = await fetch('https://api.golddigger.dev/api/governance/proposals?status=active', {
  headers: {
    'Authorization': `Bearer ${process.env.GOLD_DIGGER_API_KEY}`
  }
});

const proposals = await response.json();

// Cast a vote
const voteResponse = await fetch('https://api.golddigger.dev/api/governance/vote', {
  method: 'POST',
  headers: {
    'Content-Type': 'application/json',
    'Authorization': `Bearer ${process.env.GOLD_DIGGER_API_KEY}`
  },
  body: JSON.stringify({
    proposalId: '123',
    vote: 'for',
    wallet: 'your-wallet-address'
  })
});

const voteResult = await voteResponse.json();

Integration with External Services

The Gold Digger governance system integrates with several external services to enhance functionality:

Helius API Integration

We use Helius API for real-time blockchain data and transaction monitoring. This allows us to:

• Track token transfers and holdings for voting power calculation
• Monitor proposal execution transactions
• Generate detailed analytics on governance participation

Jupiter API Integration

Jupiter API is used for token swaps and liquidity management within the governance system:

• Treasury management for diversification
• Automated token swaps for operational expenses
• Liquidity provision for the $GOLD token

CoinMarketCap API Integration

CoinMarketCap API provides market data for informed governance decisions:

• Token price feeds for treasury valuation
• Market trend analysis for strategic decisions
• Comparative data for tokenomics adjustments

Best Practices

1. Research thoroughly before creating or voting on proposals. Understand the potential impact on the platform and community.
2. Engage in discussion on the forum and Discord before formal proposals to gather feedback and refine ideas.
3. Start small with non-controversial changes to build a track record before proposing major changes.
4. Be transparent about your intentions and any potential conflicts of interest.
5. Consider delegation if you don't have time to actively participate but want your tokens to contribute to governance.