Proposals consist of a 3 to 5 days voting period where the community will submit votes. There are two proposal categories: those initiated by the team, and those initiated by the community.
Team proposals require 50% approval from the community and at least 10% of eligible votes (circulating supply), this means that all addresses that voted need to account for at least 10% of the total circulating supply. This type of proposals will always have two options to choose from. (Yes/No, True/False…)
This type of proposal will offer the community with several voting choices. The highest % choice will result in implementation of the proposal at the end of the voting period.
- Proposing governance actions requires you to hold at least 0.2% of the circulating WASP supply on your address.
- To initiate a proposal, any community member would need first to share it on wanswap forum here: http://bbs.zookeeper.finance/t/wanswap. The team will need to confirm if implementing the proposal is technically possible, regardless of the team’s opinion on the proposal (the technical justification must be shared with the proposal creator, and the community if necessary)
- Once the technicalities have been confirmed, the proposal can be created in https://vote.wandevs.org/#/wanswap, the voting can begin.
In order for the proposal to pass, it requires a 55% approval from the community and 10% of eligible votes (circulating supply). Similar to major proposals initiated by the team, this type of vote will always be a boolean vote.
This functions in the same way as the team-proposed Poll Vote by offering the community several voting choices. Here too, the highest % voted option will result in implementation of the proposal at the close of the voting period.
Once a proposal has passed, it will be implemented shortly after. Note: In a scenario where more than one technical implementation is required, this will be addressed on a first-come, first-served basis.