Governance V1 Policies
2 min readSep 25, 2020
- You need to stake your BOT tokens in the transaction fee staking pool to get votes.Your voting power is equal to the number of BOT tokens staked in the transaction fee staking pool.
- To make a proposal or to submit a project to social trust board, you need to have at lease 2% of the total votes (which is the total number of staked tokens in the transaction fee staking pool).
- Your voting power is equalized in each proposal and each project on the social trust board. That is, if you stake 100 BOT tokens, you have voting power in each of the proposals and projects.
- You can only vote on one side. If you vote for, you cannot vote against at the same time. That is, if you have 100 votes in one proposal and you vote for, all your 100 votes will be counted towards vote for.
- You can vote as many proposals and social trust projects as you wish.
- All proposals are subject to a 3
to 7 days (set by proposers)voting period and any address with voting power can vote for or against the proposal. If (number of votes for - number of votes against) ≥ (number of absentee (or neutral) votes/6), the proposal will be passed. If (number of votes for - number of votes against) < (number of absentee (or neutral) votes+/6) - In addition to transaction fee staking rewards, we allocation 60% of the daily rewards to governance participants. The rewards will be distributed to participants based on number of votings compared to total votings. If you vote in 3 proposals and you have 100 votes in each proposal, you have 300 votings to be counted towards daily reward calculation. The more proposals you vote and the more you stake in the transaction fee staking, the more daily reward you will earn.
- 2% of the governance daily rewards are reserved for people who make proposals. participants will share 98% of the governance daily rewards.
- Governance daily rewards will start in a few days after the launch.
