Votes

xGovs vote MUST BE either “Approve”, “Reject”, or “Null”.

xGovs MAY abstain from voting.

xGovs SHALL vote once per Proposal: the allocation of “Approve”, “Reject”, and “Null” votes MUST be simultaneous.

Vote usage MAY be partial. Unused votes are default “Null”.

The sum of “Approve”, “Reject”, and “Null” votes of each xGov MUST equal to the xGov voting power.

Vote SHALL NOT be modified.

📎 EXAMPLE

Pooled Vote Example: Let’s have an xGov Staking Pool with N votes. The Pool SHOULD collect poolers’ opinions before expressing the Pool vote accordingly. Once the Pool is ready to vote, the allocation of N votes among “Approve”, “Reject”, or “Null” is simultaneous and can no longer be modified.

Voting Outcome

A Submitted Proposal is Approved if and only if all the following conditions hold:

  • A category-dependent democratic quorum of all xGov Committee (one xGov, one vote) is reached. “Null” votes affect this quorum.

  • A category-dependent weighted quorum of all xGov Committee voting power is reached. “Null” votes affect this quorum.

  • The relative majority of “Approve” over “Reject” votes is reached. “Null” votes do not affect the relative majority.

And it is Rejected otherwise.

The Commitment Lock MUST be returned to the Proposer if the Proposal is Rejected.

Review

The xGov Council MUST review Approved Proposals.

The xGov Council MAY apply a veto to an Approved Proposal.

An Approved Proposal is considered either:

  • Blocked, if the veto is applied;

  • Reviewed, if the veto is not applied.

In case of a Blocked Proposal:

  • The requested amount MUST NOT be paid.

  • The Commitment Lock MUST be transferred (slashed) from the Proposal Escrow to the xGov Treasury.