DROPS DAO
The Drops Marketplace is governed by DROPS token holders.
Drops Decentralized Governance: Your Stake, Your Say.
Introduction
The $DROPS Decentralized Autonomous Organization (DAO) is a decentralized governance protocol allowing $DROPS Token holders to propose and vote on initiatives related to the DROPS Token & Marketplace.
Voting power within the DAO is weighted based on the percentage of total supply held by the holder. Certain quorums are required for proposals to be made, voted on, and passed.
Proposals
DAO participants are granted the right to propose initiatives which they feel are beneficial to the growth of DROPS.
A minimum holding amount of 150 000 DROPS (1.5% of the total DROPS supply) is required to make a proposal.
Upon the creation of the proposal, 150 000 DROPS is transferred out of the proposer’s wallet to the DROPS DAO contract.
These tokens are held by the DROPS DAO contract until the proposal either passes or fails, at which time they are returned to the proposer. This ensures that all proposals are made with full assurance and conviction on the part of the proposer.
Voting
$DROPS Token holders with any holding amount may vote on proposed initiatives. Voting power is weighted based on the percentage of the total $DROPS supply held by the voter. The same token holdings may be used to vote on multiple proposals simultaneously.
Passed/Failed Proposals
In order for a proposed initiative to pass, a minimum of 5% of the total supply must be utilized in the voting process.
A majority vote is also required. Should the proposal fail to reach a total voting quorum of 5%, or should it fail to obtain a majority voting for “yes”, the proposed initiative will not be implemented. Should the proposal obtain a majority vote for “yes” as well as a minimum voting quorum of 5%, the proposed initiative will be implemented. Failed proposals may be re-proposed at any time.
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