Voting
Voting Mechanisms subject to change.
To gain voting rights, users are required to lock a minimum of $1,000 worth of $Voice tokens. The duration of the token lock in the Vote Vault directly correlates with their voting privileges:
Users can vote without restriction for the entire duration of the lock, except for the last six months of their lock-up period.
Users who lock their tokens for periods longer than one year are granted additional voting power to reflect their increased stake in the platform. This enhanced voting capability is capped at five years.
A lock-up of one year equates to one vote.
A lock-up of three years equates to two votes.
A lock-up of five years provides three votes.
To streamline the voting process, participants have the option to assign their voting rights to a delegate, a representative address of their choosing. This delegation can be altered at the user's discretion if they decide to appoint a different delegate.
The voting structure is designed to balance the Foundation and the DAO community. In each poll, the votes of the board members are weighted to represent 35% of the total, ensuring that their input is substantial yet not overpowering. This approach is intended to keep the DAO aligned with its goals while upholding its decentralized nature.
When it comes to proposals, they are actionable pieces of code rather than abstract ideas awaiting implementation.
Each proposal is given a five-day voting window. A supermajority of over 66% and at least 20% of total address token holders vote is required to approve any changes for them to be adopted.
Recognizing that not all users may have $1000 to participate in voting, we've devised an alternative: for every 25 upvotes a user contributes, they will earn the right to vote in one voting event.
Subjects for Voting
What will our NFTs look like?
What will we spend the DAO Treasury on?
Voters have the opportunity to decide which events they want the DAO's reporters to cover through their voting choices.
And more!
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