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Governance

The Noble blockchain (“Noble”) will house an Authority module that is controlled by a collective referred to as the Noble Maintenance Multisig (or “NMM”). The NMM has the following three functionalities:

  • Upgrade authority
  • Parameter Changes
  • IBC maintenance

Upgrade Authority​

A standard multisignature application (the “Noble Multisig”) will form the Noble Maintenance Multisig (“NMM”) which will be able to initiate a chain upgrade when a breaking protocol change requires upgrading the chain binary. The NMM will use an on-chain procedure to instruct the validators to halt the protocol running the Noble chain and which will restart the blockchain with a new binary. Importantly, validators have discretionary authority to follow those instructions. If 1/3 + 1 of the voting power of the Noble chain refuses to follow these upgrade instructions, the chain halts.

Parameter Changes​

The NMM has the ability to initiate parameter changes. This authority is distinct from the upgrade functionality as it would not require the Noble validators to run a new chain binary. A parameter change would automatically be introduced into the state machine of the Noble chain.

IBC Connection Maintenance:​

The NMM has the ability to both re-establish IBC connections that have expired as well as sever IBC connections. Any such action related to an IBC connection is achieved automatically upon execution by the Noble Multisig. This documentation further outlines situations where IBC maintenance would be required.

Configuration of NMM​

The NMM is a 5/7 multisig for passing a Noble Multisig proposal to fulfill the three key functions discussed above. The configuration of the Noble Multisig will include the Noble corporate entity and core validator partners. A key objective of the NMM is to achieve a reasonable level of geographic diversity among Noble Multisig members for resilience. The proposed geographies are noted as follows:

  • Binary Holdings: Switzerland
  • Chorus One: Switzerland
  • Cosmostation: Korea
  • Iqlusion: USA
  • Luganodes: Switzerland
  • Noble (the organization): Canada
  • Polkachu: USA

Stakeholders on the NMM will be able to be rotated in and out of the multisig over time.