The purpose of this post is to inform the community about the status quo on WeavrDAO voting system and potentially open up a discussion or continue the conversation on this topic.
Define the voting system for different types of policy proposals.
- Proposal Process (System)
- Voting Procedure and Guidelines
Source: Voting System - Weavr
Weavr DAO is a DAO, which operates as a Members Only Non-Profit LLC, providing access and utilities to Weavr real estate members. To become a member, an existing member needs to vouch for you; we don’t provide any services or value to the general public.
Weavr enables tokenization of real estate into “member DAOs” or what we call Threads, and enables member funding via Crowdfunds or Needles.
Weavr Voting System
Weavr and its threads are community-led, and all major on-chain decisions must be voted upon.
To provide safe investments for minority stakeholders in majority-controlled Threads and Weavr, any single token holder cannot hold more than 10% total voting power irrespective of their ownership share with respect to total token supply.
Total Voting Power Cap Formula
If an unverified token holder has purchased 10% of the total token pool of ‘Thread XYZ’, his voting multiplier will be 0. This results in his overall voting power being 0, and his voting share being 0% as well.
If a verified token holder has purchased 10% (or 1000) of the total token pool of ‘Thread XYZ’, his voting multiplier will be 1. This results in overall voting power being 1000 and his voting share being 10%.
A simple majority is reached if votes in favour/against are greater than 50%. This voting mechanism will be reserved for low cost/impact proposals of WeavrDAO such as initiatives that affect the governance structure of WeavrDAO, work bubbles and projects.
A super-majority is reached if the votes in favour/against are greater than 66%. This voting mechanism will be reserved for medium/high impact proposals of WeavrDAO such as procedural rule changes to WeavrDAO that affect Threads or WeavrDAO’s treasury.