Pool Vault Governance

By default, a pool-vault is run by whoever holds its Manager role: fee, oracle and accepted-token changes are single-key decisions. That suits most operator-run funds. For cooperative- or community-owned pools, such as a farming cooperative’s fund or a community investment group, the vault can instead be run by its share holders. Governance mode is Stellar-only.

Opting in

Governance mode is chosen at deployment and is one-way:

const { contractAddress } = await factory.deployPoolVault({
  name: "Kaduna Farmers Coop Fund", symbol: "KFCF", assetId: "KFCF-2026", countryCode: "NG",
  governance: {
    votingPeriod: 3n * 86400n,   // voting open for 3 days
    timelock: 2n * 86400n,       // then 2 days before it can execute
    quorumBps: 2_000,            // ≥ 20% of shares must vote
    proposalThresholdBps: 100,   // ≥ 1% of shares to propose
  },
});

On-chain this calls multi-token-factory::deploy_governed_pool_vault, which uses pool-vault::initialize_governed. An existing vault’s Manager can also call enable_governance(config) once. Vaults that never opt in behave exactly as before.

What changes in governance mode

These actions can then only happen through a passed proposal:

Action	Proposal
Change the management fee	`SetManagementFeeBps(bps)`
Change the price oracle	`SetOracle(address)`
Add / remove an accepted token	`AddAcceptedToken(token, weight_bps)` / `RemoveAcceptedToken(token)`
Change a minimum deposit	`SetMinDeposit(token, amount)`
Upgrade the contract	`Upgrade(wasm_hash)`

Calling the direct Manager setters, or upgrade, reverts. Direct mint of pool shares is disabled too, so no single key can create voting power.

Lifecycle

Propose: propose(proposer, action). The proposer must hold at least proposal_threshold_bps of supply. The quorum is fixed at creation from the total supply at that moment.
Vote: vote(voter, id, support). Each vote is weighted by the voter’s share balance. Those shares are locked until voting ends: they can’t be transferred, burned or withdrawn, so the same shares can’t vote twice from another address. A voter can vote once per proposal.
Outcome: after voting_period, a proposal passes if for > against and for + against ≥ quorum.
Timelock: a passed proposal is Queued for timelock seconds. Holders who disagree can withdraw during this window.
Execute: anyone calls execute(id).

import { PoolGovernance } from "@ankarachain/sdk";

const gov = new PoolGovernance(memberAdapter, VAULT);
const { proposalId } = await gov.propose({ kind: "set-management-fee-bps", feeBps: 25 });
await gov.vote(proposalId, true);
// …3 days of voting + 2 days of timelock later, anyone:
if ((await gov.getState(proposalId)) === "executable") await gov.execute(proposalId);

Operational roles stay with their holders in governance mode: pausing (Pauser), asset status and the identity verifier (Manager). If your community wants those governed too, assign the roles to a multisig held by elected stewards.

SDK

Types & Config

Contracts

Stellar modules

Opting in

What changes in governance mode

Lifecycle

​Opting in

​What changes in governance mode

​Lifecycle

Opting in

What changes in governance mode

Lifecycle