Governance Voting Policy
Last updated
Last updated
At the time of governance opening, you can vote on the matter of whether to pass or withdraw certain Grade C assets into the governance. After the initial stabilization period, sequentially scheduled updates would allow voters to exercise their voting rights on alternations of all matters.
Timeline for every governance agenda is all set to the UTC+9 timezone.
Once the vote has been registered in the governance, it cannot be changed or canceled.
Proposing multiple votes on passing the incorporation of Grade C assets into the governance with one wallet address is not possible. If you have already suggested a vote, you can suggest another vote only after the proposed vote is over.
Users who wish to register their votes must hold at least 0.1% of the total protocol vMESH in their wallets as of the time of voting registration.
The cost (500 MESH) will be incurred when registering for voting, and all of the cost will be used to fund the Buyback & Burn program. Registration costs can be changed through governance voting.
The body of the vote must be filled in at least 300 characters, including spaces, and can only be written in English.
The right to vote (vMESH) to participate in each vote will be determined through a snapshot at the start of each vote. “Reserved voting rights”shown on the governance main page indicates real-time vMESH quantities, and it may differ from the number of vMESHs that can exercise voting rights.
Even if you get more vMESHs through staking or if the number of vMESHs has decreased due to unstaking after the start of the vote, the number of vMESHs you can exercise is pre-determined at the start of the vote.
The criteria for passing a vote are as follows. If the total number of voters is above the minimum participation standard, and more than a majority of the total voters agree (see the governance vote registration_1st approval section in case of detailed criteria).
The criteria for rejecting a vote are as follows.
- In the case of participating less than the minimum number of voting rights until the end of the voting period (3 days)
- In a case where a majority of all voters do not approve at the end of the voting period.