Introducing Governance

ethbox starts community votings on project-related decisions

How Does It Work?

Governance votings are held on ethbox.org, with anyone holding 1 EBOX or above at a certain point in time being eligible to vote. This certain point in time is arbitrarily chosen by the ethbox team for each voting, meaning that a snapshot of the blockchain from one to few days before the voting will be used to determine the list of eligible voters.

Ethereum Signatures

Best of all: Governance is absolutely free to use and guarantees manipulation-free voting by using Ethereum signatures.

MetaMask asking for signature when casting a vote

Weighted Voting

Aiming to provide a fair and democratic approach to the way the ethbox community is involved in project-related decisions, the initial idea was to weight user’s votes 1:1 by tokens held, linearly. This would mean that the vote of someone holding 10,000 EBOX would count like the votes of two people each holding 5,000 EBOX.

Graph for ethbox vote weighting function f(x)

Transparency

Before each voting, the list of eligible voters including their exact token balances in a specific snapshot moment is published on ethbox.org. Users can see beforehand whether they can participate in a voting.

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