Voting Periods
The DAOFIN framework on the XDC Network incorporates a structured approach to governance through defined voting periods. These periods are crucial for facilitating organized, transparent decision-making within the community. This guide explains the concept of voting periods within DAOFIN, aiming to clarify the timeline, processes involved, and key considerations for participants.
Overview of Voting Periods
A voting period is the timeframe during which community members can cast their votes on various proposals submitted within the DAOFIN ecosystem. It's a critical phase in the governance process, allowing for the collective expression of preferences and decisions on the direction and priorities of the network.
Structure and Timeline
The DAOFIN framework on the XDC Network streamlines the governance process with two key phases: the Proposal Submission Window and the Voting Period. This simplified approach ensures clarity and efficiency in community decision-making. Here’s a concise overview tailored for easy integration into documentation.
Proposal Submission Window
Purpose: This initial phase is dedicated to collecting proposals from the community. It's a critical time for members to articulate and submit ideas that they believe will benefit the DAOFIN ecosystem and the broader XDC Network.
Duration: Set for a specific timeframe before the voting begins, allowing proposers to prepare and submit their initiatives.
Submission Guidelines: Proposals must adhere to defined criteria, including relevance to the network's goals, feasibility, and potential impact. Detailed instructions on formatting and content ensure submissions are clear and comprehensive.
Voting Period
Definition: Following the Proposal Submission Window, the Voting Period is when community members review submitted proposals and cast their votes. It's the decisive phase where the community's collective preference is determined.
Deadline-Oriented: The Voting Period concludes on a specified deadline, by which all votes must be submitted. This clear endpoint helps drive participation and ensures timely decision-making.
Process: Members access the voting platform, review proposals, and vote according to the guidelines. The process is designed to be transparent and accessible, encouraging broad participation across the community.
Key Features
Simplicity and Clarity: With only two main phases, the process minimizes complexity, making it easier for community members to participate effectively in governance.
Defined Timelines: Specific start and end dates for both the Proposal Submission Window and the Voting Period are communicated well in advance, ensuring members can prepare and participate accordingly.
Community Engagement: This streamlined process fosters active community involvement by simplifying participation, from proposal submission to voting.
Finalizing the decision-making process for Each Community in DAOFIN
In the DAOFIN framework on the XDC Network, governance decisions are facilitated through a structured voting process across different communities. Two essential metrics in this process are the quorum and the pass rate, pivotal for ensuring that decisions are representative and command widespread support. These concepts and their application to each community within DAOFIN, aiming to demystify the vote finalization process.
Overview
Quorum: Defined as the minimum proportion of eligible votes that must be cast in a voting session to deem it valid. It guarantees that decisions reflect adequate community participation.
Pass Rate: Indicates the percentage of affirmative votes required for a proposal to be approved, ensuring substantial support for implementation.
Communities in DAOFIN
DAOFIN's governance model includes several communities, each with distinct roles within the ecosystem. The quorum and pass rate criteria are tailored to the unique characteristics of these communities, as outlined below:
Master Node Delegatee Community
Judiciary Community
People’s House
Master Node Delegatee Community
Quorum: For the Master Node Delegatee Community, a quorum might be a specific percentage of the total eligible master nodes, for example, 50%, meaning that more than half of the master nodes need to participate for the vote to be considered valid.
Pass Rate: The pass rate could be set at 60%, implying that among those participating, at least 60% must vote in favor for a proposal to pass.
Judiciary Community
Quorum: The Judiciary Community, being more specialized, might have a higher quorum requirement, such as 75%, to ensure that a significant majority participates in decision-making.
Pass Rate: A pass rate of 66% ensures proposals approved by the Judiciary Community have considerable consensus.
People’s House
Quorum: In the People’s House, which involves a wider base of the community, a quorum of 30% could suffice, reflecting broad participation.
Pass Rate: A simple majority of 51% as the pass rate acknowledges the diversity of opinions within a larger group.
Finalizing Votes
Vote finalization within DAOFIN respects the established quorum and pass rate for each community. Upon concluding the voting period:
Quorum Verification: Initially, the system verifies if the voting session met the quorum requirement. If the quorum is not met, the vote may be invalidated, leading to potential tabling or rescheduling of the proposal.
Pass Rate Assessment: Following quorum satisfaction, the system tallies votes to determine if the pass rate threshold has been met. Proposals achieving or surpassing the pass rate are deemed approved.
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