Governance

In Governance, decision-making about DAO operations take place by making and voting on proposals utilizing Governance Tokens and discussions related to the DAO.

Governance Program goes through Temperature Check that takes place off-chain, and the voting process consisting of Consensus Check and Governance Proposal that takes place on-chain. Moreover, in order to process urgent proposals, trust proposals that happen on-chain can be registered by a proxy trust of DAO, and they only go through one step of the voting process.

Proposals that have passed Governance proposal are automatically applied to the Smart Contract, realizing transparent DAO operations. The current version supports the following range of features 'Proposal', and the range will be expanded through the modification or improvement of the Neith Protocol in a direction that fits various DAO projects.

Use of Treasury Funds	Decides to use or not use funds, and also on the size and use of funds to be used to specific purposes.
DAO Profit Distribution Ratio	Changes the distribution ratio DAO profits between the Treasury reserve and DAO Token Purchase Fund.
Distribution Ratio of Buyback	Changes the distribution ratio of purchased DAO Tokens between burned tokens and tokens sent to the Obelisk.
Change Currency of Treasury Stored Funds	The currency of Treasury Stored Funds can be changed.
Proposal requirements	Requirements and conditions for proposal registration, voting period, quorum and passing of proposals can be changed.
Re-opening of the Station	Decides on the additional issuing of DAO Tokens, and issuing requirements.
Trust Change Proposal Settings	The Wallet addresses of the Trust, the principal agent of DAO business, can be modified, added, and removed.
Misc.	Yes/no votes and multiple choice votes can be utilized to assess the opinions of the DAO on various topics.

Governance Tokens for Votes

• A snapshot is taken at the time of proposal registration of the Governance Token ownership of all WEMIX Wallets to decide the amount of Governance Tokens for votes.

• The amount of Governance Tokens that have been generated in the Obelisk after the start of the vote are not included in the calculation of Quorum requirements, and these tokens cannot be used for votes either.

• In cases when there is more than 1 ongoing proposal, Governance Tokens Holders may exercise their votes for each Proposal.

Each proposal is passed when it both satisfies the quorum requirements, and has majority agreement. The processing period for each voting step may differ for each DAO, and for each proposal.