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GOVERNANCE_CONSTITUTION.md

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Inferno ($IFR) Governance Constitution v1.0

Preamble

The Inferno Governance ensures decentralized control over all critical protocol parameters. No single actor can make changes without a 48-hour timelock period and quorum approval.

Article 1 — Governance Principles

  1. Transparency: All proposals are traceable on-chain
  2. Time Delay: 48h timelock for all changes (no bypass)
  3. Decentralization: Target 4-of-7 multisig for mainnet
  4. Immutability of Core Values: Burn rate, max fee, supply are never changeable
  5. Guardian Right: Emergency cancel by 2-of-4 guardian multisig

Article 2 — Governable Parameters

2.1 PartnerVault

Parameter Description Bounds
rewardBps Builder reward rate 500–2500 bps (5–25%)
annualEmissionCap Annual emission limit 1M–10M IFR
authorizedCaller Whitelist for recordLockReward() any address
algoThrottleEnabled Algorithmic throttle on/off bool

2.2 FeeRouterV1

Parameter Description Bounds
protocolFeeBps Protocol fee 0–25 bps (hard cap)
whitelistedAdapters Swap adapter whitelist any address
voucherSigner EIP-712 voucher signer any address
paused Emergency pause bool
feeCollector Fee recipient any address

2.3 IFRToken (immutable)

Parameter Value Changeable?
totalSupply 1,000,000,000 IFR No
burnFeeBps 250 (2.5%) No
poolFeeBps 100 (1.0%) No
decimals 9 No
maxFeeBps 500 (5.0%) Hard cap

Article 3 — Proposal Lifecycle

Phase 1: Proposal

  1. Proposer calls governance.propose(targets, values, calldatas, description)
  2. Proposal appears in timelock queue
  3. ETA = block.timestamp + 48h (minimum)
  4. Status: PENDING

Phase 2: Timelock

  • 48h waiting period (immutable in contract)
  • During this time: community review, guardian cancel possible
  • Status: QUEUED

Phase 3: Execution

  • After ETA: anyone can call execute() (permissionless)
  • Before execution: re-verify that the proposal is still relevant
  • Status: EXECUTED

Phase 4: Rejected/Cancelled Proposals

  • Guardian can cancel at any time: guardian.cancel(proposalId)
  • Cancelled proposals cannot be re-executed
  • Status: CANCELLED

Article 4 — Multisig Structure (Mainnet)

Owner Multisig (4-of-7)

Responsible for: All governance proposals

  • 2 founder wallets (hardware wallet, Ledger)
  • 2 community representatives (elected via Snapshot)
  • 2 builder representatives (first accredited builders)
  • 1 reserve wallet (cold storage, emergency)

Guardian Multisig (2-of-4)

Responsible for: Emergency cancel only

  • 1 founder wallet
  • 1 independent security reviewer
  • 1 community representative

Article 5 — Prohibited Governance Actions

The following actions are technically impossible by contract design:

  • Minting new IFR tokens
  • Increasing the burn rate above 5%
  • Direct access to locked user tokens
  • Bypassing the 48h timelock
  • Changing the token decimals

Article 6 — Governance Phases

Phase Status Description
Phase 0 Active Single EOA (deployer), bootstrap
Phase 1 Planned 2-of-4 multisig
Phase 2 Planned 3-of-5 multisig
Phase 3 Planned 4-of-7 multisig
Phase 4 Planned Full DAO (token voting)

Article 7 — Amendments to This Constitution

  • Amendments require a governance proposal + 48h timelock
  • Core values (Article 5) are immutable (contract-level)
  • Versioning: GOVERNANCE_CONSTITUTION_v{n}.md

Version: 1.0 | As of: March 2026 | Network: Ethereum Mainnet (deployed 2026-03-05)