🗳️Phase 4: On-chain Voting
This is the final Phase of governance, where on-chain voting will take place at https://dao.swingby.network. By this stage, the Proposal has already went through discussion, feedback and ratification in Phases 1 to 3.
About On-chain voting
The DAO Platform is a fork of Barnbridge's DAO platform. The On-chain voting process consists of the following periods:
Warmup Period: 4 days
Voting Period: 4 days
Pending Execution: 4 days
Grace Period: 4 days
Who can propose?
Only SWINGBY holders who have a 1% share of all vSWINGBY (voting power) can propose a proposal.
If you are proposing a proposal, but do not meet this requirement. Please inform a moderator to help get your proposal published.
Who can vote? All SWINGBY holders who have staked their SWINGBY on the DAO UI & have vSWINGBY (voting power) can vote.
Process
1. Create Proposal
If you have at least 1% vote power (vSWINGBY) of the total amount of $SWINGBY staked in the DAO. you can create a Proposal on the DAO UI. Once created, a 4-day warm-up period will commence.
2. Vote during Voting Period
When the Voting Period commences, you can vote on the DAO UI.
3. Execute during 'Pending Execution' Period
A Proposal can be passed only when it has 45% Quorum and 60% votes FOR the proposal. After a Proposal is passed, execute the Proposal on the DAO UI. This will ensure that the proposal is executed on-chain via the DAO.
🎉 At this stage, you've successfully went from Idea to a Passed Proposal!
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