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This document serves to describe the results of 9 separate votes that worked to define the governance model for the Divi DAO
Voting happened in a proto-DAO method by which members could join the DAO and vote simply by owning 1 single e-Divi Token on the Ethereum blockchain.
The voting and proposing system was designed to reduce the effects of spammers and scammers, while also empowering people who are dedicated to the Divi Project and its blockchain. However, there are also provisions to allow newcomers and people with low balances to participate also.
To be able to participate in the DAO with its full governance system in place, there are specific rules that must be complied with to be validated to vote or propose.
And that is it! Now let’s talk about the details around acquiring the NFTs and the differences between them. Then we will talk about Voting mechanics.
Proposing NFT’s come in tiers. The higher the NFT tier you have, the more Divi you can request to be spent on implementing a proposal. For example, if you just need up to 100K Divi to implement a new website, then all you need is a Copper Tier Proposing NFT. If you want a million Divi for a proposal, you will need a Gold Tier Proposing NFT, and so forth. Keep in mind, when proposing, the DAO treasury needs to actually have the amount you are requesting.
Proposing NFTs can be acquired in two ways. The first is to launch a Validator Vault. If this is done in the Divi wallet, then there is nothing else to do, when you set it up, you will receive a Proposing NFT in your wallet. If you run a manual Validator Vault (NOT a hot staking node), you can submit your Ethereum address and a proposing NFT will be sent there after vault verification. The higher the amount of Divi in your vault, the higher the tier you qualify for.
All vault-earned Proposing NFTs burn when the vault they are linked to is taken down.
The other way to acquire a Proposing NFT is to simply buy one. The DAO will have a store selling Proposing NFTs. You can buy one, each tier costs more. These will last until they are used. Once used to make a proposal, they will burn.
To summarize in a table, Proposing NFT tiers work as follows (all amounts are in Divi):
The scenario for voting NFTs matches the proposal requirements to a large degree. Voting NFT’s come in tiers. The higher the NFT tier you have, the higher your voting power. You can vote for any proposal, but you are granted more power toward that vote when equipped with a higher-tier NFT. For example, if you have a Copper Voting NFT your voting power will be 100. However, if you have a Gold Tier Voting NFT your voting power will be 110.
Voting NFTs can be acquired in two ways.
The first is to launch a Validator Vault. If this is done in the Divi wallet, then there is nothing else to do, when you set it up, you will receive a Voting NFT in your wallet. If you run a manual Validator Vault (NOT a hot staking node), you can submit your Ethereum address and a Voting NFT will be sent there after vault verification. The higher the amount of Divi in your vault, the higher the tier you qualify for.
All vault-earned Voting NFTs burn when the vault they are linked to is taken down.
The other way to acquire a Voting NFT is to simply buy one. The DAO will have a store selling Voting NFTs. You can buy one, each tier costs more. These will last until they are used. Once used to vote, they will burn.
To summarize in a table, Voting NFT tiers work as follows (all amounts are in Divi):
There is an exception to this rule!
The DAO voted to approve a special Immortal NFT. A few dedicated Divi holders ran a masternode until the last moment and for their efforts received an Immortal Voting NFT. This NFT is tradable but only acts like a Copper Voting NFT.
There are some rules around voting that are important. The first is that a vote won’t pass unless there is a quorum. The quorum required to pass a vote gets larger with the higher-tier proposals. So a copper proposal would only require 20% of DAO members to vote on it, while a diamond proposal will require 24%. So the quorum required to pass a proposal is as follows:
There will also be some requirements around the Proposal format and required information, but that is not relevant to this document and will be instructed in the Proposal Template.
This article is part of a series of articles regarding the migration to Divi 3.0. It will be executed in steps over several weeks, allowing for a seamless and efficient transition process. We urge you to pay close attention to the forthcoming updates, as they will contain vital instructions for the migration. There will be a gamification element incorporated, so we encourage you all to stay engaged! This should make the process more engaging and a rewarding experience for all node owners and the Divi family. You can find the introduction article as well as the list of articles of the series on this link.
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