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The governance process is designed to be transparent, open, and inclusive to ensure that all stakeholders have a voice in the decision-making process. All community members are encouraged to participate in the process and make their voices heard.
- 1.Proposal Any community member can create a proposal on the forum. The proposal should include a detailed description of the proposed change, the rationale and expected impact of such change, its benefits and drawbacks, and any necessary technical details. The proposal must be submitted as a new topic on the forum, tagged with the appropriate category.
- 2.Discussion Proposals shall be posted on the forum for community feedback. Discussion Period for any proposal shall be no less than 3 days to allow ample time for community members to share their thoughts, concerns, and suggestions. The council may also participate in the discussion, suggest modifications, or reject the proposal.
- 3.Voting Once the discussion period has concluded, the proposal will be put up for a vote by the Council on Snapshot. The voting period will last for a minimum of three days to ensure that all eligible voters have the opportunity to cast their vote. Every token holder is eligible to vote, with each token representing one vote. To move a proposal forward, a minimum quorum of votes must be met. The quorum is the total number of tokens held by proposal supporters as a percentage of the total number of tokens in circulation, currently set at %. If a proposal with sufficient quorum receives a simple majority of votes in favor, it will be deemed approved, and the council will begin implementing the proposed changes. However, if the proposal fails to receive the required votes, it will be considered rejected, and no further action will be taken.
- 4.Implementation Once a proposal is approved, the council is responsible for implementing the change. The council shall work with the community to ensure that the change is made in a timely and efficient manner.