Governance

Overview of MINE WARZ Project Governance

The MINE WARZ project introduces a governance system to actively reflect participants' opinions and establish a transparent and efficient decision-making structure. This system is primarily used to determine important proposals related to Buddy NFTs, but also for other matters that may significantly impact the project’s ecosystem.

Voting Procedure

· Voting Outcome: Decisions on proposals are based on Voting Power, with the majority of votes (either for or against) determining the selected proposal.

· Participation Requirements: To ensure valid decision-making, a minimum of 33.3% of all participants must engage. This threshold is set to ensure sound decision-making while representing a broad spectrum of opinions.

· Transparency in Voting: To ensure transparency of voting results, a part of the voter's nickname along with the wallet address linked to their voting account is disclosed.

· Notice of Voting: To provide participants with sufficient awareness and preparation time for proposals, voting starts at least 2 days after a proposal is announced.

· Voting Duration: Governance voting should proceed for at least 3 days from the start date. Generally, it lasts for 5 days unless there are special circumstances, and it can be extended depending on the proposal and voting rate.

Voting Power

· Voting Power is determined by the Mining Power held by each participant at a specific time and indicates a participant’s share of influence on each proposal. Decisions on proposals are made based on the voting results, which are grounded in Voting Power.

Agenda Setting (How to Propose Proposal of Governance Proposals)

· During the system’s early stages, the MINE WARZ team will set the agenda for governance proposals to guide the project’s development and safeguard its stability. After a certain point, the system will be updated to allow ecosystem participants to make proposals and set the agenda.