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Update BITs lifecycle and approval according to BIT-0003 #41

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24 changes: 20 additions & 4 deletions README.md
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Expand Up @@ -29,20 +29,35 @@ BITs are classified into the following categories:

## BITs Lifecycle

BITs pass through several stages before it becomes final:
BITs pass through several stages before becoming final. The lifecycle varies by type:

- **Core/Subtensor BITs:** Draft → Review → Last Call → Accepted → Final
- **Interface/Networking BITs:** Draft → Review → Last Call → Accepted → Final
- **Meta/Informational BITs:** Draft → Review → Final

### Stages

- **Draft:** The initial state of a BIT when submitted as a pull request. In this stage, the
BIT is open for discussion and feedback.
- **Review:** The BIT has passed the initial review and is now under formal review by the BIT
editors and the community.
- **Last Call:** The BIT is nearing finalization and has a set period for final comments and
objections.
- **Final:** The BIT is considered complete and implemented (or ready for implementation).
- **Accepted:** The BIT has achieved consensus but is not yet implemented.
- **Final:** The BIT is considered complete and implemented.
- **Stagnant:** The BIT has not been updated for a significant period or lacks consensus, so it
is no longer considered active.
- **Withdrawn:** The author of the BIT has decided to withdraw the proposal.
- **Living:** The BIT is a living document that is continually updated with new information
(e.g., coding standards or best practices).
- **Rejected:** The BIT has been formally rejected due to lack of consensus or fundamental
issues.
- **Deferred:** The BIT lacks current consensus but may be reconsidered in the future.
- **Replaced:** The BIT has been superseded by a newer proposal.
- **Obsolete:** The BIT is no longer relevant due to changing circumstances.

All BIT types can transition to Rejected, Deferred, Withdrawn, Replaced, or Obsolete at
appropriate stages.

## How to Submit BITs

Expand Down Expand Up @@ -82,8 +97,9 @@ BITs serve as the primary mechanism for proposing new features or changes to the
protocol, fostering open-source development, transparency, and structured decision-making.

### How are BITs approved?
BITs are approved through community consensus during the Review and Last Call stages. Editors
facilitate the process but do not unilaterally approve BITs.
BITs are approved through community consensus during the Review and Last Call stages, moving
to Accepted once consensus is reached and then to Final once implemented. Editors facilitate
the process but do not unilaterally approve BITs.

### Can I update BITs after they are finalized?
Once BITs are finalized, they are generally considered complete. However, living BITs are an
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