Governance

Vote on proposals submitted by the community

Expected release is end of Q3 to end of Q4.

Contract-less Voting

Logic

User chooses A token or B token

User opts in to the vote token they choose and sends a .002 ALGO transaction (ALGO fees received will be used to send vote tokens) with a note specifying their choice and the amount of committed MoonX (note field will be populated, user will just have to sign the tx to add vote token and send .002 ALGO)

User receives the token they chose (A or B, asset IDs: XXXXXX or XXXXXX) and has to hold it for the entire voting period, balance of MoonX and note is recorded when the user receives the vote token

After the voting period is over, check to see if original wallets still hold the vote token, check to see if the balance of MoonX is equal to or greater than it was when wallet received the vote token, if those are both true, then their choice is recorded, along with the wallet and the amount of MoonX that was recorded in the third step. Tally totals of previously recorded holdings/choices and compare.

Clawback the vote tokens in preparation for the next voting round

We will reduce non-LP staking rewards to 20-30% APR and increase rewards to 50-60% APR during voting periods, exact numbers will be determined soon.

How to Vote

During Registration Period

Go to "Governance" page in app

Select choice

Sign tx approving vote token asset ID and sending .002 ALGO

Receive vote token of your choice

During Voting Period

Hold your tokens (committed MoonX and vote tokens), do not trade them or send them to another account, or you will invalidate your choice.

First Vote (est: Q4)

Proposition 1A

Users could propose changes to MoonX, with a small fee in $MoonX charged that gets burned (this would prevent spammers/encourage high quality proposals)

Proposal gets reviewed by the team to be put to a vote

Community votes on proposal

Proposition 1B

Users could propose changes to MoonX, with a small fee in $MoonX charged that gets added to a wallet (this would prevent spammers/encourage high quality proposals)

Proposal gets reviewed by the team to be put to a vote

Community votes on proposal

If the proposal fails, the fees stay in the fee wallet (fee wallet accrues interest over time)

If the proposal succeeds, the fees will be rewarded to the user that proposed it

Future Votes

Governance proposals will steer the dirtection of future votes.

Logic(comming soon)

How to submit a proposal(coming soon)