Governance process

There are 3 stages related to each governance proposal: 

  • Proposal submission 
  • Voting on proposal listing - in 3 days from submission
  • General voting on the listed proposal - in 7 days from submission 

Table 9 - voting majorities

Voting type

Majority of votes required win

Quorum required

Voting on listing proposal

Simple majority

Not applicable

Voting on proposal

Absolute majority

(51% of quorum) 

Min 50% of all eligible voters

 

Please note that majority and quorum are determined by voting power, not voters' headcount.

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Each user entitled to participate in governance voting (i.e. ‘governor’) will have a limited number of proposals to be submitted every month. The exact amount of available proposals will be tied with account level: 

  • Account levels 1-3: 1 voting proposal monthly 
  • Account levels 4-6: 2 voting proposals monthly
  • Account levels 6-9: 3 voting proposal monthly 
  • Account level 10: 4 voting proposal monthly