Comment on page
ℹ
Introduction
Taraxa's governance is an evolving process that aims to eventually achieve what's described in the whitepaper. For now, governance for major decisions in the ecosystem will go through an on-chain, direct-election governance vote where TARA holders directly decide the direction the ecosystem takes.
Before a governance vote passes, they're called Taraxa Improvement Proposals, or TIP. It is a public repository and anyone can create a pull request to submit a proposal. Please make sure that proposals are well-articulated and well-researched, so that the Taraxa community is able to make an informed decision during the governance vote.
Once these proposals make it to the governance vote, they'll also appear on snapshot.org (see below).
The development team has integrated Taraxa's mainnet with snapshot.org, which is an open-source platform that facilitates on-chain voting for over 29k web3 projects.
The development team is bound by the outcome of the vote, and will implement whatever the outcome of the governance vote is.
The development team will adhere to a First Past the Post (FPTP) voting system, which means plurality wins. In most cases there will be just a yes / no response, so plurality would mean majority in these cases. FPTP is the oldest and most common form of voting system, typically used during direct elections, which is what Taraxa's current governance system uses.
In direct elections, the concept of quorum also does not apply. Quorum is a concept applicable to deliberative assemblies, or a body filled with representatives that were directly elected to their seats. Therefore there are no quorum considerations.
All wallets on the Taraxa network is able to vote.
TARA stored on exchanges cannot be counted in voting. If your TARA are on an exchange but wish to vote, you could pull the tokens out of an exchange into a wallet and participate in voting. You just need to make sure that the transfer occurs before the vote's snapshot cutoff (see below).
A wallet's vote counts 2 components,
- Wallet's TARA balance
- Wallet's staked TARA balance
If you have 1 TARA in your wallet, and you have 99 TARA staked, then your total voting weight is 1 + 99 = 100.
Please follow our step by step tutorial on how to use snapshot.org to vote.
Last modified 2mo ago