Dot Finance Governance Model
We are excited to release Dot.Finance DAO governance that allows Our $PINK investors who have either hold or staked their tokens to vote on proposals to implement changes to Dot.Finance.
The governance voting will give a measure of broader debate and clearer consensus around important decisions related to product development, growth directions, or features requested by users, fostering community involvement where our users have the freedom to participate in voicing their thoughts around the future of the Dot.Finance platform.
A user’s voting power is based on the number of their $PINK tokens, either by holding or staking.
Each 1 PINK (Wallet/Staked) gives 1 voting power.
The Minimum Amount of PINK required to participate is 2500 pink tokens.
We will soon grant our community the option to also raise proposals Thus ultimately allowing our community two functions — raise proposals and vote for proposals.
What is a DAO?
DAO stands for Decentralized Autonomous Organization. It has the ability to function autonomously without the need for a central authority but instead, it is operated by a community of stakeholders. The rules and transaction records of a DAO are stored transparently on the blockchain where rules are generally decided on by stakeholders’ votes.
Decisions are made within a DAO through community approval of proposals. A proposal would be implemented when it is voted on by a majority of stakeholders and after meeting quorum requirements (or fulfills some other rule set in the network consensus rules).
How to Vote
- Go to the https://gov.dot.finance/#/
- Connect wallet in Binance Smart Chain network.
- Select the active proposal you wish to vote on.
- After reading the proposal, select your preferred choice and “vote”.
- Your wallet will prompt you to sign a message, this does not cost any gas fee, and will submit your vote.