Phase Two: Senate

Building upon the secure foundation established by the Security Council, Phase Two introduces the Senate — a fully onchain governance body that expands participation to a broader segment of the Millicent One community. The Senate represents a shift toward increased decentralization, embodying diverse stakeholder interests within the ecosystem.

Structure and Composition:

• Elected Representatives: The Senate consists of members elected by veMILLI holders, via delegation of their voting influence.

• Eligibility Criteria: Candidates must be elected from the current set of active Node Operators.

• Composition: Nine Senators will be elected to serve in each term. Senators may be elected to serve again once their current term ends.

• Election Cycle: Regular elections are held to refresh the Senate's composition, encouraging ongoing engagement and allowing new voices to emerge.

Key Responsibilities:

• Legislative Functions: Propose, debate, and enact policies or amendments to the Millicent One protocol and governance framework.

• Oversight and Accountability: Monitor the performance of network participants and enforce compliance with established rules and standards.

• Resource Allocation: Decide on the distribution of network resources, including grants, rewards, and funding for development initiatives.

• Facilitating Community Proposals: Provide a structured process for community members to submit proposals and engage in the governance process.

Governance Processes:

• Decision-Making Mechanism: Utilize a transparent voting system where proposals require a defined quorum and majority to pass, ensuring decisions reflect the collective will.

• Transparency and Reporting: Maintain open records of meetings, discussions, and decisions, allowing community members to stay informed and provide feedback.

• Conflict Resolution: Implement procedures to address disputes or challenges within the governance process, promoting fairness and unity.

• Minimized Governance Overhead: Establishing a structured Senate allows the broader community to rely on elected representatives to handle day-to-day governance decisions. This reduces the need for every member to participate directly in every decision, thereby streamlining processes and enhancing efficiency while still enabling democratic community influence through their chosen delegates.