🙋Voting

Participate in key decisions impacting the ecosystem.

Only those who stake BITS are permitted to engage in governance proposals. This approach is appropriate as it warrants that the project's direction is shaped by committed stakeholders, this method ensures fairness for all involved.

The voting process will encompass multiple stages, utilizing platforms like snapshot.xyz and commonwealth.im for submission purposes. These tools are instrumental in facilitating constructive dialogue about BitSwap, contributing to its positive development.

• Propose initiatives via the BitSwap Governance Proposal Page, where discussion, analysis, and interest demonstration are encouraged.

• When a proposal receives substantial engagement and has had sufficient time for consideration, we'll transition to vote snapshotting.

• Cast your vote through our dedicated channel on Snapshot, with a voting duration of approximately 72 hours to accommodate all member participation.

• Following the voting period, BitSwap will commence the execution of the approved proposal.

• When submitting a proposal, you should be aware that you are responsible to answering all questions and queries that the community may have.

• Posting duplicate proposals can be troublesome for achieving positive discussion, make sure the community hasn't already discussed similar / same topics.

• Proposals must be on the following: use of funds, tokenomics of $BITS, developmental direction, strategic partnerships and various other arrangements.

• Proposals are required to be active for a minimum of 48 hours.

• Each proposal should be comprehensive and detailed enough to facilitate clear understanding.

• A proposal is considered for approval only if disapproval ratings are at or below 30%.

• BitSwap must fully comprehend the proposal before proceeding with it.

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Do you want to submit something that doesn't require voting? Help us understand what your facing ⤵️

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