I have been exploring the API3 project and am really intrigued by the decentralized governance model. I understand that the API3 DAO plays a central role in decision-making, but I’m still a bit unclear on the exact process for voting on proposals.
Could someone explain how the voting mechanism works in more detail? Specifically:
How are proposals created, and who is eligible to submit them?
What’s the threshold for a proposal to pass?
Are there any requirements for token holders to participate in the voting process?
Also, if there’s any documentation or past discussions I should refer to, I’d really appreciate a point in the right direction. Looking forward to getting more involved!
I have not found any solution. Could anyone guide me about this?
The docs describe how the onchain voting works here: Contracts | Documentation including links to the contracts
To make a proposal from an address, that address must have at least 0.1% of the staked tokens staked
Primary proposals are 50% to pass, Secondary are 10%
Staked tokenholders are incentivised to participate to ensure the treasury is being used according to API3 mission, and to ensure any smart contract parameter changes directly made by onchain votes are advisable. If not staked, pro rata dilution because nonstakers do not receive minted yield.
