Black Monk Whitepaper
  • Black Monk Intro
  • Black Monk DeFi
    • Tax Economy
    • Activity Mandate
    • Hyperdeflation and Elasticity
    • Season
    • Temporary Tranche
    • Lap
    • Lap Tranche
    • Permanent Tranche
    • Lap Dividend
    • Penalty
    • Triggers
  • DAO Governance
    • Proposals
    • Voting
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  1. DAO Governance

Voting

Shaping the Future Together

Voting is crucial in BMONK DAO's decision-making process. It empowers $BMONK token holders to influence the project's direction. At BMONK, we believe that collective decision-making promotes inclusivity, transparency, and a sense of ownership among our community members.

The Voting Mechanism:

BMONK DAO uses a transparent and robust voting mechanism. This allows $BMONK holders to vote on key project decisions, ensuring that major choices reflect the community's collective will. Here’s how it works:

  1. Proposal Stage: The voting process starts when a proposal is officially submitted to the DAO. Proposals can include a variety of initiatives such as NFT acquisitions, technical development, marketing campaigns, educational programs, and more.

  2. Discussion and Evaluation: Before voting begins, the community can discuss and evaluate each proposal. Members can ask questions, seek clarifications, and express their opinions. This open dialogue ensures voters understand the proposal's details and implications.

  3. Voting Period: After the discussion period, the voting period begins. During this time, $BMONK token holders can cast their votes based on their evaluation of the proposal's merits. Each token represents a vote, and holders can vote "Yes," "No," or abstain.

  4. Majority Rule: Following democratic principles, a proposal's acceptance depends on majority rule. A proposal must receive more "Yes" votes than "No" votes to be approved, ensuring decisions reflect the broader community's preferences.

  5. Threshold Requirement: To prevent proposals from passing with minimal support, a predefined threshold of "Yes" votes is required. Proposals must exceed this threshold to be approved, ensuring substantial community backing.

  6. Transparent and Immutable: All voting records are stored on the blockchain, making the process transparent and unchangeable. This transparency fosters trust and accountability, as anyone can verify the voting outcomes.

Community Engagement: BMONK encourages active community involvement in the voting process. We value every $BMONK holder's voice, considering their participation essential in shaping the project's future. Regardless of the size of a holder's stake, their vote carries equal weight.

PreviousProposals

Last updated 9 months ago