POSI Chain Network Governance voting is currently available. On POSI Chain network, the decisions should be made by the community, especially the validators. The community can decide what upgrades, incentives or changes to our network.
As the network and core protocol are complicated and require a deep knowledge of EPoS and some technical/blockchain background, we are only letting validators create and vote on proposals. The network governance model includes proposal, voting, and implementation processes.
First, a proposal can be submitted by anyone, who has POSI native coin on the POSI Chain. The proposal shall include a summary of the content and a link to a post in the “Posichain DAO” forum so that the community can discuss and debate in the forum post. A proposal will be moved forward when the majority is reached. Otherwise, it is rejected. The majority of the quorum is defined as more than 66% of all the voting tokens.
- The voting power is calculated based on POSI balance, plus total staking POSI (includes self-stake and total balance delegated token) on the POSI Chain Network.
- The proposal runs within 7 days after creation so that you have time to get familiar with the topic and the impact of the proposal’s results.
- During this time, you can vote if you have understanding about the topic.
- Once you submit your vote, you cannot change it.
- The final snapshot of voting power is taken at the epoch in which the proposal closes, so with epochs passing, you might see your total voting power vary a bit. For a proposal to successfully pass, 66% of all voting tokens is needed to reach a majority quorum.