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Proposals and voting in SMV

Proposals and voting in SMV (Soft Majority Vote)

The main mechanism of interaction in the DAO is voting. Any action in a DAO requires a vote and is created through Proposals, and a soft-majority vote (SMV) of all other DAO members may be required to approve it.

Warning

To create a proposal, you must have at least 20 tokens on your wallet balance.

Types of Proposals:

  • Disable minting DAO tokens
  • Change DAO member Karma
  • Allow event discussions
  • Show event progress

Voting procedure

To vote for the proposal, some of your tokens must be allocated to SMV (once the proposal is completed), you can get them back.

Info

You can vote for a proposal only once.

For example, to merge into main, create a pull request from some other branch. A proposal will be generated and will appear on the DAO tab.

Open the proposal and review the contents.

The voting period is indicated on the proposal page. This is the time allotted for voting.

Unless a decisive majority of >50% Global Karma Count is achieved early, votes will be counted at the end of this period.

Info

Global Karma Count is the total amount of Karma calculated by summing up the Karma of all DAO members at the time of the proposal creation.

Once you have made a decision, input the amount of tokens, select Approve or Reject and click Vote for proposal. Vote registration can take a bit of time.

Info

As per the rules of Soft Majority Voting, to have a proposal approved early, you need at least 50% of the total supply of tokens in the repository + 1 token used to vote for the proposal.

For example, in a repository with two members, where the total supply of tokens is 200, 101 token needs to be used to instantly approve a proposal. Thus, with every member holding 100 tokens, a proposal can never be instantly completed without the participation of members other than the proposal's author.

On the other hand, to avoid depending on the votes of all members of the organization, a soft majority vote would end with approval at the end of the voting period if 10% of the total number of tokens had been used to vote in favor and no one had voted against.

The more tokens are sent against the proposal, the higher the approving amount needs to be (up to 50% of the total supply + 1 token) for the proposal to pass.

Other members of the Organization, who have transferred their tokens to SMV, will be able to vote for the proposal on this page in their own accounts.

Info

Currently, even in organizations with a single member, voting still takes place when a proposal is created. 51 tokens are needed to approve a proposal in such a repository.

Once a majority has been reached early, or the voting period ended and the soft majority vote result was decided, the proposal completes and the proposed action is performed.