Treasury voting

Accounts the programs create

Every account has an address derived from fixed seeds (a PDAProgram-derived address: an address worked out from fixed words and inputs, with no private key. Only the program can sign for it, so nobody can swap in a look-alike.), so the page can find it and nobody can swap in a look-alike.

The proposal’s fingerprint is SHA-256 of “veyduct.sol.action.v1”, the treasury, the proposal, the recipient and the amount. The payment record must match it, so a vote can never be redirected to another payment.

Who can do what

• ActionWho signsRules the programs enforce
• Create a treasuryAny wallet; it becomes the creatorQuorumThe minimum number of coins that must vote in total, Yes plus No, for a result to count at all. above zero, a payment cap above zero, minimum vote and waiting period each 100 to 1,000,000 slots, a fixed-supply coin with no freeze authority, an immutable voting program.
• Add SOLAnyoneA plain SOL transfer. It leaves only through an approved payment.
• Propose a paymentThe creator onlyBefore any vote, within the cap, with voting that lasts at least the minimum; proposal and payment record in one transaction.
• Vote and withdrawAny holder of the coinLock coins on one side before the deadline; take them all back once from the deadline on.
• Carry out the paymentAnyoneApproved, the waiting period over, not yet paid, enough SOL above the reserve. Pays only the fixed recipient.
• Withdraw treasury SOLNobodyNo creator withdrawal, no arbitrary calls, no rule changes and no close instruction.

The creator decides what gets proposed, and holders decide whether it is paid. Vote weight comes from coins locked now, so check how the coin’s supply is spread before relying on a vote.

From proposal to payment, with a worked example

1. Voting closes at the deadlinedeadline ≥ slot when proposed + minimum voteThe page adds 300 slots of headroom to a minimum-length vote so it still qualifies when it lands.
2. The resultapproved = (yes + no ≥ quorum) and (yes > no)Read with the page’s own VeyductGovernanceV2.result. A tie or missed quorum never pays.
3. The paymentpayable when slot ≥ deadline + waiting period, onceOnly if the treasury holds the amount above its rent reserve; otherwise add SOL and try again.

Example (same numbers as Try it)

1. Rules: quorum 100,000, cap 2 SOL, minimum vote 24 h, waiting period 24 h.Cost 0.00143256 SOL rent + 0.000005 SOL network fee. No VEYDUCT fee.
2. Add 1.5 SOL, propose 1.2 SOL to a designer, vote for 48 h.Voting closes 432,000 slots later; payable 216,000 slots after that.
3. You approve with 40,000; B approves with 35,000; C rejects with 30,000.75,000 + 30,000 = 105,000 ≥ 100,000 and 75,000 > 30,000Approved when voting closes.
4. Wait 48 h, then 24 h more.Anyone carries it out: the designer gets 1.2 SOL, the treasury keeps 0.3 SOL plus its reserve, and the payment can never run again.

Costs

VEYDUCT feeTreasury voting adds no VEYDUCT fee at any step.

None

Treasury rent reserve154 bytes at mainnet rent of 5,080 lamports per byte plus 128 bytes per account. It stays in the treasury.

0.00143256 SOL

Rent for each proposalProposal (188 bytes), vote vault and payment record (122 bytes), paid by the creator.

0.00438912 SOL (Token-2022) · 0.00436372 SOL (classic)

Rent for your vote receiptOnce per wallet per proposal, on your first vote.

0.00107696 SOL

Network feePer transaction, one signature.

0.000005 SOL

No account is ever closed, so rent is not refunded. The treasury’s reserve can never be paid out.

Timing

Times are Solana slots; the page converts hours at 9,000 slots an hour.

• Minimum vote and waiting periodA fixed delay between voting closing and the payment being allowed, so everyone can see the result and react before any SOL moves.: 100 to 1,000,000 slots each (about 0.02 to 111 hours). Both are fixed when the treasury is created.
• Coins are locked only while voting is open. Voters can withdraw as soon as it closes, during the waiting period; recorded totals do not change.
• Slots, not clock time. Hour figures assume 0.4 seconds per slotSolana’s clock tick. A slot passes about every 0.4 seconds (about 9,000 an hour). Deadlines on chain are slot numbers, not minutes. and can drift from real elapsed time.

Edge cases and what can go wrong

FAQ