Governance
Last updated
Last updated
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 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 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.
· 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.