L2 Protocol

Governance Guide

This guide explains how to use the L2 Protocol governance interface to review proposals, vote, create new proposals, and settle proposals that have been accepted.

Mainnet: https://dashboard.l2protocol.com/governance

If you are new to governance, read the Governance overview first for the concepts (proposal types, lifecycle, voting power, and the timelock).

1. Before You Start

You sign in to the dashboard with your wallet, so it is already connected when you open the governance page; no separate connection step is needed. Just make sure:

  • your wallet is on the L2 Protocol network, and
  • it holds a small amount of L2P to cover transaction fees for voting, creating, or settling proposals.

2. Review Proposals

Active Proposals are shown as cards at the top. Each card shows the title, the proposer, a short description, and the current vote split.

  • Votes are shown as percentages for For, Against, and Abstain. Hover over a percentage to see the exact vote amount.
  • Each card also shows your voting power for that proposal and whether you have already voted.

Past Proposals are listed in a table with their final status (Succeeded, Defeated, Executed, and so on) and vote breakdown. Accepted proposals that still need action show Queue or Execute buttons here.

3. Vote on a Proposal

You can vote on any proposal in the Active state, as long as you have voting power and have not voted yet.

  1. Find the proposal card.
  2. Review the description and current results.
  3. Click For, Against, or Abstain.
  4. Confirm the transaction in your wallet.

After the transaction confirms, the card shows You voted …. Your choice is recorded on-chain and cannot be changed.

Note: Your voting power is a snapshot taken when voting started. If the card shows you have no voting power, you either held no governance tokens (or delegated votes) at that moment, or voting is not open.

4. Create a Proposal

Click New Proposal to open the form. First choose the proposal type.

Signal proposal (non-executable)

Use this to gauge community sentiment without making an on-chain change.

  1. Select Signal proposal.
  2. Enter a Title and Description.
  3. Click Create Proposal and confirm the transaction.

A signal proposal can be voted on but cannot be queued or executed.

Parameter change (executable)

Use this to change a network setting. The interface builds the change safely for you and routes it through the GovHub contract, so it can be executed once accepted.

  1. Select Parameter change.
  2. Enter a Title and Description.
  3. Choose the Target contract, the system contract you want to change. A short description of the selected contract is shown to help you choose.
  4. Choose the Parameter key, the specific setting to change. Each key shows a description of what it does and the allowed range.
  5. Enter the Value. The interface knows the expected type for each parameter (an address, a whole number, or true/false) and validates your input against the allowed range.
  6. Check the Resulting call preview, which shows exactly what will be submitted.
  7. Click Create Proposal and confirm the transaction.

Tip: For amounts and time-based settings, values are entered in their base unit (for example, token amounts in wei and durations in seconds). The description under each field states the expected unit and range.

Once created, your proposal starts in Pending, becomes Active after the voting delay, and is then open for voting.

5. Settle an Accepted Proposal

When an executable proposal passes, it must be queued and then executed. Both actions are available in the Past Proposals table.

Queue

  1. Find the proposal with status Succeeded.
  2. Click Queue and confirm the transaction.

This schedules the proposal in the timelock. Its status changes to Queued.

Execute

  1. Wait for the timelock delay to pass. While waiting, the Execute button is disabled and its tooltip shows the time it becomes available.
  2. Once the delay has passed, click Execute and confirm the transaction.

The change is now applied on-chain and the proposal status becomes Executed.

Note: Queue and Execute are only offered for proposals that can actually be settled. Signal proposals and proposals that do not go through GovHub will not show these buttons.

Troubleshooting

The voting buttons are missing or greyed out. The proposal is not Active, you have already voted, or you have no voting power for it. Voting power is based on your holdings when voting started.

The Queue or Execute button is not shown. The proposal is either not accepted yet, or it is a signal proposal (non-executable). Only accepted parameter-change proposals can be settled.

The Execute button is disabled with a time in the tooltip. The proposal is queued but the timelock delay has not passed yet. Wait until the shown time, then execute.

My transaction failed with a "not whitelisted" error. Only proposals routed through the GovHub contract can be executed. Proposals created as parameter changes in this interface are routed correctly. Proposals that target a contract directly cannot be executed.

I don't see my newly created proposal in the active list. New proposals start as Pending during the voting delay and become Active once voting opens. The list also refreshes as the network indexes the new proposal.

Resources

Need help? Reach out through the L2 Protocol community channels.

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Contributors: L2Protocol