DAO

Purpose

DAO governance enables a fast-track process for implementing community recommendations and active community participation in governance. This is achieved by creating a decentralized, open community for scientific risk management, moving KSwap in a more decentralized direction.

Operation Process

The holder of a KST pass is uniquely identified as a voter. Voting is carried out via an on-chain governance system using the KSwap DAO protocol and each KST pass holder has the right to vote.

Voting by Delegation

KSwap's voting system requires users to make their KST a vote through the delegation process in order to participate in voting on proposals.
To vote by delegation, click on the 'Unlock Vote' button on the voting page. In the pop-up window, the user can choose to delegate their vote themselves or transfer their vote to a third party.
  • When self-delegation is selected, voting on each proposal can be done by oneself.
  • When a delegation is selected, voting rights will be transferred to another person's account, but the KST held by the user will not be transferred.

Creating a Proposal

Users who have 100,000 KST are able to create a proposal. Create a proposal at: https://app.kswap.finance/#/vote

Operation Process:

  1. 1.
    Delegate KST to obtain ballots
  2. 2.
    Create a proposal
    1. 1.
      Select the proposal operation
    2. 2.
      Select the wallet address for redemption
    3. 3.
      Fill in the quantity
    4. 4.
      Fill in the proposal title
    5. 5.
      Fill in the proposal content
    6. 6.
      Submit
  3. 3.
    Community starts voting
  4. 4.
    Voting results processing

Vote for the Proposal

Any user with a KST can vote.
  1. 2.
    Delegate KST to get a vote
  2. 3.
    Start a ballot (vote for or against)
  3. 4.
    Contract call
  4. 5.
    Done
Once a new proposal is created, the community can vote on it during a 7-day voting period. If the proposal has more votes in favour than against it, and the number of votes in favour exceeds 10% of the token's current circulation, the proposal is approved and the status is changed to pending.
Pending proposals have a 2 day lock-in period where all governance and other management actions need to remain in lock-in for 2 days before they can be executed by the contract.

Proposals are divided into 6 status:

  • Active
  • Suceeded
  • Defeated
  • Queued
  • Executed
  • Expired

Proposal type:

Distribution of buyback pool tokens Distribution of Team Tokens Distribution of market tokens Distribution of transaction fees Adjusting the mining pool's arithmetic power Mining pool on/off IDO token listing Other proposals
Note: This document may be subject to minor adjustments once the product is officially launched.