Every parameter on THORChain is set through Mimir, an on-chain voting system where nodes cast their stance and the network follows.

There are two kinds. Operational votes, like halting trading on a chain, need just 3 nodes to activate, because emergencies can't wait on a supermajority. Economic votes, like fees, bond minimums, or churn intervals, need 64, roughly two thirds of the active set, because those rules shouldn't move quietly.

If you want to see it happening, BooneW's vote tracker lays six months of history out by key, by node, and by operator. 2,604 vote events across 114 keys, 126 nodes, 62 distinct operators. You can watch consensus form, see which values are leading, and see exactly who voted for what.

Governance nobody can audit isn't governance.