🗝️Governance

Governance Introduction

MultichainZ presents a comprehensive framework for achieving decentralization and autonomy within the MultichainZ Protocol. This framework encompasses governance mechanisms and financial incentives, aiming to establish alignment among various stakeholders within the MultichainZ ecosystem, protocol functionality, and the core securing element, the Chainz token. Detailed information can be found here.

Voting Requirements:

To participate in voting, you must possess Chainz tokens or stkChainz (Staked Chainz) tokens. Both types of tokens can be used, and the voting power will be calculated based on the combined amount of tokens you hold.

How to Vote:

1. Access the "Governance" section in the app and select the relevant proposal.

2. Review the proposal thoroughly to ensure a complete understanding of its contents.

3. If you wish to engage in discussions, click the provided link to join the conversation on the governance forum.

4. On the right-hand side, choose your desired vote option.

5. Confirm your vote.

6. Congratulations! You have successfully cast your vote.

Note: To ensure the validity of your vote, the balance of your voting tokens must remain the same or higher throughout the entire voting and validation period of the proposal.

Changing Your Vote:

You can easily change your vote by following the aforementioned steps and casting your desired vote. Your previous vote will automatically be canceled.

Token Movement during Voting:

You are permitted to move your Chainz tokens, as long as the amount in your wallet used for voting remains equal to or higher than the tokens initially used for voting. If you reduce your token amount below the voting tokens' quantity, your vote will be canceled.

Adding More Tokens to Your Vote:

Yes, you can vote again to reflect your updated token amount.

Voting Mechanism:

For detailed information on the voting process, refer to the 'From Idea to Implementation to Execution' post on the Governance forum. If you require a more technical explanation, please consult the Governance section of the Developer Docs.

Voting Threshold:

The voting threshold is dynamic and can change based on the quorum and the differential of votes for or against a MultichainZ Improvement Proposal (MIP). If there are only a few votes against an MIP, the threshold remains the same. However, if the votes against the MIP are more substantial, the threshold can be increased, requiring a higher number of votes in favor for the MIP to pass. This ensures that an MIP attains overwhelming approval before implementation.

For example:

If the quorum is set at 20%, the differential is 15%, and 2% of the total votes are against the MIP, the threshold remains at 20% because 15 + 2 = 17, which is less than 20.

If the quorum is set at 20%, the differential is 15%, and 6% of the total votes are against the MIP, the threshold would be raised to 21% because 15 + 6 = 21. Consequently, more "yae" votes would be required for the MIP to pass.