🗂️Governance

The EMS token—the governance token of the Ethereum Message Service—allows those who hold it to vote on changes to the Ethereum Message Service dApp. Note that anyone, not only EMS holders, can submit proposals for an EMS vote.

Any voter-approved modifications to the governance variables of the dApp will likely not take effect immediately in the future; rather, they could be delayed by as much as 24 hours if voters choose to activate the Governance Security Module (GSM). The delay would give EMS holders the opportunity to protect the system, if necessary, against a malicious governance proposal (e.g., a proposal that alters collateral parameters contrary to established monetary policies or that allows for security mechanisms to be disabled) by triggering a Shutdown.

Although the EMS application will remain free-to-use, our governance model will allow us to give our wonderful community exactly what they seek from EMS. As well as that the EMS governance model gives us a way to bring to life a flourishing and supportive group who want to see on-chain technology become more accessible to wider audiences.