Governance
Overview
The X528 DAO is a decentralized autonomous organization that governs the X528 Interface. The DAO controls the community treasury, network improvements and all things that are related to the X528 Interface.
Governance discussions are open to anyone, but only those holding the X528 governance token may vote on proposals. In order to protect the DAO and ensure that all those participating in the governance process are committed to the success of the project, holders of X528 must first stake their tokens before they are eligible to vote. See X528 Staking for more info.
Participating in the X528 DAO
All you need is an Ethereum wallet and X528 tokens to participate. Simply follow these steps:
Visit the governance section of the X528 Discord to view and discuss proposals that are coming up for a vote
Purchase some X528
Stake your X528 to get voting power (or delegate your voting power to someone else e.g. a staking service)
Wait for the next voting period to start
Vote on all proposals.
Claim your voting rewards
Voting
The X528 DAO reaches a consensus on proposals via token voting. All stX528 holders are empowered to participate in governance votes. Token holders can also delegate their governance power to delegates who can participate in X528 Governance on their behalf.
Voting Periods
On the 25th of each month a voting period will open up where any XIP proposals maybe be submitted for a vote.
Delegating
You can vote on each proposal yourself or delegate your votes to a third party. To be eligible to vote, you must hold X528 in your wallet and delegate it at the start of voting.
Quorum
In order for a proposal to succeed, a minimum of 2.5m stX528 must participate in the vote. Any changes to the quorum requirements must be amended by the community through an XIP.
Each vote has to reach the minimum quorum, even if it has a majority, for it to be considered an official proposal. It is the responsibility of the proposal author to enlist voting participation from the community in order to reach a quorum.
Governance Proposal Types
1. X528 Improvement Proposal (XIP)
This is a formal governance proposal to deal with all matters related to the X528 Network. Before an XIP can be submitted it must have passed a temperature check by the community.
2. Fast Track Proposal (FTP)
This express proposal path is designed to cater to emergencies where time is of the essence. Through the expedited fast track process, the fast track process follows this pattern:
Proposal Funding
X528 DAO has two pathways for funding:
Direct funding through governance
The X528 Foundation Grants DAO
Direct Funding Through Governance
The DAO manages the on-chain community treasury and can provide funding for approved governance and community proposals.
X528 Grants Program
The X528 Grants Program was created to fund ideas and builders in the X528 ecosystem.
Proposal History
To learn about X528 Proposal history, you can find off-chain votes on Snapshot and on-chain votes on the X528 governance forum.
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