All changes to the protocol must be agreed upon by stake-weighted referenda. The voting process will be conducted in three definitive stages: Proposing Referenda, Voting for Proposal, and Tallying.
Anyone can make a proposal by submitting a minimum amount of Unido tokens for 2 weeks along with their proposal.
If someone agrees with the proposal, they may deposit the same amount of tokens to support it. The project must accrue a threshold amount of support before it qualifies to move forward to a formalized vote
Voting for a proposal
The voting stage lasts 2 weeks. Proposals which have accrued enough early-stage support in the proposing stage are moved through to the Voting Committee. The Voting Committee is comprised of DAO participants who have qualified by staking the required amount of Unido tokens prior to the election. The staked tokens will be locked for at least the enactment delay period beyond the end of the referendum.
The Voting Committee then vote on each proposal with the options of “Yes”, “No” or “Abstain”
After two weeks the proposal voting will end and the following condition will be taken into consideration to determine if it passes or not:
Quorum: more than 40% of the total staked tokens at the end of the voting period need to have voted
Threshold: More than 50% or a majority of the tokens that participated in the vote, excluding “Abstain” votes must have voted “Yes”
Veto: Less than 33.4% of the tokens that participated in the vote, not counting “Abstain” votes, have vetoed the decision “No (With Veto)”.
If any of these conditions are not met, the proposal will not qualify for the grant and the funds will subsequently be sent back to the Ecosystem Development Fund.