Governance Proposal Rules
A Governance Proposal consists of a 3–5 day voting period during which the community will vote using their ZOO Token balance (note that until the end of May, only the tokens in your wallet at time of snapshot will be counted towards voting weight) There are in total four (4) voting proposal categories divided in two parts.
1) Major Proposal initiated by the core team:
This requires a 50% approval from the community and 1% (note that this will be restored to 10% at the end of May, once Wanchain enables the snapshot to take into account staked ZOO tokens as well) of eligible votes (circulating supply) in order to be implemented. This means that all addresses taking part in the vote need to account for at least 1% of the total circulating supply at time of snapshot. This type of proposal will always be a Boolean one (true/false, yes/no, BTC/ETH …)
2) Minor Proposal initiated by the core team:
Also known as the Poll Vote, will offer the community with several voting choices. The highest % choice will result in implementation of the proposal at the end of the voting period.
3) Major Proposal initiated by the community:
Once a governance proposal has been initiated, the team will need to confirm whether implementing the proposal is technically possible or not, regardless of the team’s opinion on the proposal (the technical justification must be shared with the proposal creator, and the community if necessary). Once the technicalities have been checked and confirmed, the voting can begin. In order for the proposal to pass, it requires a 55% approval from the community and 1% (note that this will be restored to 10% at the end of May, once Wanchain enables the snapshot to take into account staked ZOO tokens as well) of eligible votes (circulating supply). Here too, this type of proposal will always need to be a Boolean one (true/false, yes/no, BTC/ETH …)
4) Minor Proposal initiated by the community:
This functions in the same way as the team-proposed Poll Vote by offering the community several voting choices. Here too, the highest % voted option will result in implementation of the proposal at the close of the voting period.
Once a proposal has passed, it will be implemented shortly after. To initiate a Community proposal, please head over to http://bbs.zookeeper.finance to discuss with community and then create the proposal in https://vote.wandevs.org/#/zookeeper.
Note: In a scenario where more than one technical implementation is required, this will be addressed on a first-come, first-served basis.