Stakeholder - community participation
Community is able to vote and elect representatives which are appointed by a qualified vote to the community committee. Community representatives are elected for a term of 1 year, but can be voted out from the committee in case of poor attendance, lack of adherence to the set goals and values, or other reasons due to which they are no longer able to fulfill their duties as appointed representatives. All EYEQ token holders that hold not less than $1,000 in EYEQ tokens can be proposed as a candidate. Parameters for community committee representative selection voting are:
- Winner is an address that collected more votes than any other address
- Quorum > 40%
- Threshold > 51%
- Voting Duration = 7 days
- VP should be represented as an EYEQ holder or an EYECON Membership NFT holder.
- Should be eligible for at least 1 vote.
- Voting power can be increased by buying more EYEQ tokens.
- If a user has EYECON NFT Membership they are entitled to 1 vote, and are able to add VP (voting power) by buying EYEQ tokens.
- If user does not hold an EYECON NFT Membership in their blockchain wallet or hold at least 100 EYEQ tokens staked on the DAO, they are then not able to participate in voting. In such cases, EYEQ tokens need to be purchased in order to vote.
Candidates from the Community who would like to become a Committee member should be first registered as candidates. Below you can find the requirements for candidates:
- Each candidate should be an EYEQ holder with a minimum of $1000 equivalent in EYEQ token value staked on the DAO vesting pool.
- Candidates should be EYEQ token holders for at least 30 days before the start of Community Member selection voting. This term shows the candidate most likely knows the protocol and the community.
- Any candidacy can be submitted in case they fit the requirements.