Governance Vote Passed. Frens, the vote to remove the threshold for past and future governance proposals has concluded.

05 Jun 2023, 12:53

Governance Vote Passed! 🗳 Frens, the vote to remove the threshold for past and future governance proposals has concluded ✅ 👉 dogegress.dog 🌊 An overwhelming majority of 90% of the voters were in favor of the proposal, making it a clear-cut case. As a result, future governance proposals will not have a threshold limit. 🪂 To ensure reasonable participation in the future, voting will be incentivized through various mechanisms. Moreover, this means that the previous vote regarding the Tiered Burn is now considered valid 🆗 Here is what it implies: 🔸 The Dogechain team will proceed with a tiered burn of the unreleased token supply. 🔸 The burn tiers will be correlated to the amount of $DC locked in the vote-escrow model (veDC) as follows: 🔹Tier 1–20% of $DC circ. supply locked — 10% burn 🔹Tier 2–30% of $DC circ. supply locked — 15% burn 🔹Tier 3–40% of $DC circ. supply locked — 20% burn 🔹Tier 4–50% of $DC circ. supply locked — 25% burn (max) 🔸 The average lockup period should remain above 3 years, otherwise the burn size will be reduced proportionally to the reduced average timelock. 🔸 The Community will have until Jul 23, 2023 to lock $DC in the veDC model, at which point the snapshot for the tier will be taken. 🔸 The burn will be executed imminently after the snapshot. The ball is now in your hands, Shibes! Locking your $DC will directly contribute to the size of the burn, so get cracking! 🔒 Locker ♻️ Dogechain is bringing DeFi & long awaited utility to Dogecoin. Join the family! 🚀 Website I Twitter I Discord I TikTok I Reddit I Blog I Instagram