Terra Gov

Want your stake to say what you think? Find an open proposal

Community pool

LUNA held by the chain itself, not by any person or company. Nobody has a key to it: only a governance proposal that passes can send it anywhere, and the transfer then happens automatically.

Proposal

A request put to a vote of everyone who stakes LUNA. It can be text only (a signal) or carry messages, such as “send this much from the community pool to this address”. If it passes, those messages run by themselves.

Deposit

A proposal needs 5,000 LUNA deposited before it goes to a vote, which keeps spam out. The deposit is returned afterwards, unless the proposal is vetoed.

Voting period

Seven days. Votes can be changed until the end; the last vote counts. When the period ends, the chain counts and acts in the same block.

Expedited proposal

A faster track: a one-day vote with a higher bar (two thirds yes). If it misses that bar it continues as a normal proposal.

Quorum

At least 30% of all staked LUNA has to take part (abstain counts). Below that the proposal fails, however the votes split.

Pass threshold

More than 50% of the votes that are not abstain must be yes. Abstain is left out of this share.

No with veto

A stronger no. If more than 33.4% of all votes are no with veto, the proposal fails whatever the yes share, and its deposit is burned.

Abstain

Counts toward quorum, but not as yes or no. A way to say “I took part, and I leave the decision to others”.

Validator

An operator that runs a node producing Terra’s blocks. LUNA holders stake by delegating to validators; validators vote on proposals with the stake delegated to them.

Delegation (staking)

Putting your LUNA to work with a validator. You keep ownership, earn staking rewards, and your stake gives you voting power.

If you do not vote

Your staked LUNA votes the way your validator voted. If you vote yourself, your vote replaces theirs for your stake only. This is why validators’ votes decide most proposals.

Voting power

Staked LUNA. It also includes the “virtual” stake Terra’s alliance module places on validators for alliance assets, so a vote’s weight is measured against all bonded stake.

Multisig

An account that can only act when several keyholders approve. The ones here are DAO DAO, cw3 and Enterprise contracts: every decision they take, with the exact transfers inside, is stored in the contract and anyone can read it. That is how this site shows what happened after the vote.

Phoenix Directive Treasury

A contract created by proposal 4822. It receives the staking rewards of its own alliance asset and pays out through “actions” (payments, milestone grants, sale orders), each logged in the contract with a name and a USD value.

Alliance

Terra’s alliance module lets something other than native LUNA stake be counted for a share of LUNA staking rewards. How big that share is depends on its reward weight. Creating or changing an alliance takes a governance vote.

Reward weight

An alliance’s claim on staking rewards next to native LUNA stake, which counts as 1. With weights adding up to W, an alliance with weight w receives about w ÷ (1 + W) of all staking rewards.

Emissions

New LUNA minted with every block, 7% a year by the mint parameters, and paid out as staking rewards. Blocks come faster than the parameter assumes, so more is minted in practice.

Amplifier (ampLUNA)

ERIS Protocol’s liquid staking. LUNA goes in, ampLUNA comes out; the LUNA is staked with validators and ampLUNA grows in LUNA terms as rewards come in.

Sale order (OTC)

An on-chain offer to sell a fixed amount at a fixed price, which anyone can fill. The contract shows how much is still unsold; a cancelled order returns what is left to its owner.

Liquidity (LP)

Tokens deposited into a trading pool so others can swap against them. The depositor receives LP tokens and can redeem them later for their share of the pool.

Milestone grant

A grant paid in parts, each part released when a named deliverable is met.

Phoenix Directive

The group that has submitted Terra governance proposals from the address terra1kefa…klgzl since July 2024, and whose proposals created the multisigs and the treasury shown here. Every figure on this site about it is read from those proposals and contracts.

Commission

The share of staking rewards a validator keeps before passing the rest to its delegators.

Missed blocks

Blocks a validator failed to sign in the chain’s current window of 10,000 blocks (about 16 hours). A validator that misses more than 95% of them is jailed.

Virtual stake

LUNA the alliance module stakes on validators on behalf of alliance assets, so they share in staking rewards. It counts as voting power like any stake, and since the module never votes, the validator it sits on votes with it. Where it sits follows the delegations of each alliance asset’s holders.

Where old votes come from

The chain deletes individual votes when voting ends; the tally stays. After that, votes are only in the transactions that cast them, and public nodes keep a limited history of those. Votes from proposal 4844 on could be recovered; older ones could not, so they are not shown rather than guessed.