- Governors need to stake your AUCTION tokens in the transaction fee staking pool to get votes. Voting power is equal to the number of AUCTION tokens staked in the transaction fee staking pool.
- To make a proposal or to submit a project to the social trust board, at least 2% of the total votes (which is the total number of staked tokens in the transaction fee staking pool) are needed.
- Voting power is equalized in each proposal and each project on the social trust board. (if you stake 100 AUCTION tokens, you have 100 voting power in each of the proposals and projects).
- Governors can only vote on one side. If you vote for, you cannot vote against the same proposal (if you have 100 votes, all the voting power will be spent at once).
- There is no limit to the number of proposals and social trust projects governors can vote for.
- All proposals are subject to a 3 to 7 days voting period. The period is set by the proposer. Any address with voting power can vote for or against a proposal. If (number of votes for - number of votes against) ≥ (number of absentee (or neutral) votes/6), the proposal will be passed. If (number of votes for - number of votes against) < (number of absentee (or neutral) votes+/6) will not be passed.
- In addition to transaction fee staking rewards, 60% of the daily rewards are allocated to governance participants. The rewards are distributed to participants based on their voting power compared to the total power. If a governor votes in 3 proposals and has 100 votes in each proposal, their total voting power for reward calculation is 300.
- 2% of the daily governance rewards are reserved for governors who create proposals. Voters share 98% of the daily governance rewards.