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As an Alp token holder, you can participate in governance of the treasury by submitting and voting on proposals.
By winning an Alp token at auction and after the auction is settled, or purchasing an Alp token on secondary marketplaces, your digital wallet will receive an Alp token that represents 1 vote.
Once a proposal has been published onchain, there is a waiting period of 48 hours before votes can be cast. Voting is open for 5 days. Alp holders or delegates will be able to vote. After the voting period ends, if quorum/threshold is met (minimum required FOR votes, which is a minimum of 10%, scaling up to 15% of the total Alp supply when there is AGAINST votes), the proposed transactions (funding) can be queued upon proposal success and executed 2 days after.
A proposal, once published onchain, follows this process:
- Waiting Period: There's a 48-hour waiting period after a proposal is published before voting begins.
- Voting Duration: Voting lasts for 5 days. During this time, holders of Alp tokens or their delegates can cast their votes.
- Quorum/Threshold Requirement: For a proposal to be considered, it must meet a minimum 'FOR' vote threshold. This threshold starts at 10% of the total Alp supply. If there are 'AGAINST' votes, the threshold scales up to 15%.
- Post-Voting, Queue the Proposal: If the quorum/threshold is met, the proposal is deemed successful. The proposal can then be queued, which is a manual transaction that anyone can carry out.
- Execute Proposal: There's a 48-hour delay before a successfully queued proposal can be executed. The execution can be done by anyone and is a manual transaction which initiates the transaction/s outlined in the proposal.
To cast a vote, Alps members will need to:
- 2.Click on "Submit Vote" to bring up the vote modal.
- 3.Fill in your reason and select FOR, AGAINST or ABSTAIN.
- 4.Submit your vote by paying a small gas fee.
Last modified 19d ago