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Voting Configurations
Let’s vote!
Each member has a certain level of voting power that he can use in the decision-making process. The club’s founder and managers create proposals in order to guide clubs in their investment and operations activity.
Each proposal has a predefined quorum that needs to be reached in order for a proposal to be executed. Additionally, specific quorums for different price ranges can also be defined for the trading proposals. This flexibility in defining different quorums allows clubs to increase their activity. For minor trades, a lower quorum can be set, while for greater proposals, the club founder can require full participation in voting.
Additionally, a maximum voting time can be set - if the quorum is not reached within that time frame, the proposal is rejected. Once the proposal has been accepted, any member of the club can execute it.
There are three types of proposals that can be created:
  1. 1.
    Discussion proposal - made for discussing any topic with the club members. Both the founder and managers can create them and ask the members to express their opinion by either accepting or rejecting the proposal.
  2. 2.
    Trading proposal - they allow the club to collectively decide on buying or selling a certain digital asset. Both the founder and managers can create trading proposals.
  3. 3.
    Withdrawal proposal - the founder is the only one who can create a withdrawing proposal in order to withdraw funds from the treasury and distribute the withdrawn amount with eligible club members.
The club’s founder can veto any of the proposals before it reaches the defined quorum.
NFT voting configuration works differently - having possession of one NFT from a certain collection gives a user one vote. The founder can create proposals, and all NFT holders can vote by selecting NFTs from their wallets.
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