How does the governance work?
The governance of the ONCHAINID ecosystem will be managed by both Core developers, providing propositions, and token holders, who would vote for the propositions.
The voting power of token holders being related to the size of their holdings at a fixed block on which the voting will close.
In order to participate in the governance process, one might also own an ONCHAINID smart contract. The voting process will take into account the holdings of each wallet linked to the ONCHAINID of the voter, this way it is not necessary to vote with each wallet to participate in the governance process (in the case a token holder owns several wallets).
Voting propositions may take several forms:
A simple proposition is submitted to the community with a boolean answer requested (yes or no), in this case the answer collecting more than 50%+1 of the votes will be taken into account.
A multiple choice proposition is submitted to the community,
- with a single answer requested, in this case the answer collecting the most votes of the votes will be taken into account, or
- with the possibility for voters to choose several propositions that satisfy them, in this case the answer collecting the most votes of the votes will be taken into account, or
- with the possibility for voters to choose several propositions that satisfy them and to add a preference order on which they consider the various propositions, the vote - count will then use this order to ponderate the voting power on each proposition and in fine the answer collecting the majority of the ponderated votes will be taken into account.
The voting power of token holders being related to the size of their holdings at a fixed block on which the voting will close.
In order to participate in the governance process, one might also own an ONCHAINID smart contract. The voting process will take into account the holdings of each wallet linked to the ONCHAINID of the voter, this way it is not necessary to vote with each wallet to participate in the governance process (in the case a token holder owns several wallets).
Voting propositions may take several forms:
A simple proposition is submitted to the community with a boolean answer requested (yes or no), in this case the answer collecting more than 50%+1 of the votes will be taken into account.
A multiple choice proposition is submitted to the community,
- with a single answer requested, in this case the answer collecting the most votes of the votes will be taken into account, or
- with the possibility for voters to choose several propositions that satisfy them, in this case the answer collecting the most votes of the votes will be taken into account, or
- with the possibility for voters to choose several propositions that satisfy them and to add a preference order on which they consider the various propositions, the vote - count will then use this order to ponderate the voting power on each proposition and in fine the answer collecting the majority of the ponderated votes will be taken into account.
Updated on: 05/08/2021
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