Balancer Governance is the heart and brain of Balancer Protocol. Anyone who holds a BAL token becomes part of the Balancer Governance. The more tokens you have, the stronger your voice is. Governance makes decisions about new features, directions of where the Balancer Protocol should go and looks over the Balancer Community. The Governance is the ultimate decision-body for Balancer Protocol, no one can override the Governance’s vote result.
The main responsibilities of Balancer Governance are voting on new proposals on changes to the Balancer community and deciding on whether/how the protocol fees will be used.
Yes, the Balancer Governance Token (BAL) gives holders decision making power over the protocol. The BAL token address is 0xba100000625a3754423978a60c9317c58a424e3d.
The three current sources of voting power are:
Holding BAL in your wallet
Holding pool tokens in your wallet for a Balancer Pool with BAL in it
Getting voting power delegated to you by another wallet
It is worth noting that Balancer Governors have the ability to vote on adding/removing strategies of how to assign voting power.
Voting takes place on Snapshot, an off-chain, gasless voting system. Snapshot was created by Balancer Labs, and has become a very successful multi-protocol voting system used by over 800 teams.
Votes happen when there is a proposal to vote on; they are not regularly scheduled. When they are active, votes typically occur over the weekend. They are announced on the forums, on Discord and on Twitter.
If you have an idea about how to improve Balancer you can make a proposal on our Forum or in #governance Discord Channel. As the proposal gets traction in the community, it will be debated and then moved to a vote.
When proposing, be sure to explain the problem, the solution, consider any implications, dependencies etc. Don't be upset if you don't get a lot of enthusiasm at first - incorporate the feedback and post an improved proposal. It is a process, so it may take some time, but thanks to it - we can make sure that it's the best version we can create.
No, there is no token on Tron affiliated with the Balancer Protocol. The token in question is affiliated with a phishing site.