CyberKongz OOH: A First iteration of Community Governance
CyberKongz is community-driven, and that is one of the elements that makes our project so special.
Being true to this principle, we wanted to establish a solid foundation for facilitating decentralized decision making within the community and created a Snapshot Strategy. We are excited to introduce: CyberKongz OOH.
Snapshot provides holders the opportunity to decide, together, on the future direction of our jungle.
Snapshot is a token-based, decentralized voting system that provides the calculation of an individual’s voting power for a poll. Ownership of CyberKongz, CyberKongz VX and $BANANA results in an individual number of votes (OOHs) for a poll. CyberKongz and CyberKongz VX erc721 contracts, as well as the $BANANA erc20 contract, each represent 15k OOHs.
In the first iteration of this strategy, there will be a total of 45,000 votes. One OOH represents one vote based on the breakdown below:
3 OOHs x CyberKongz balance
total CyberKongz OOHs = 3 OOHs x 1000 Genesis + 3 OOHs x 4000 Babies/Incubator = 15000 OOHs
1 OOHs x CyberKongz VX balance
total CyberKongz VX OOHs = 1 OOH x 15000 CyberKongz VX = 15000 OOHs
15000 $BANANA balance / current total $BANANA supply
total $BANANA OOHs = 15000 x all circulating $BANANA / current total $BANANA supply = 15000 OOHs
At the time of poll creation, a snapshot is taken of the current block to automatically calculate the number of OOHs per wallet. The total number of OOHs is combined from all three categories to determine the total amount of voting power. Voting is gas-free and easy.
To see the current proposals and join our Snapshot strategy head over here: https://snapshot.org/#/cyberkongz.eth
After connecting your wallet, you can click on an open proposal and can cast your vote by choosing one of the available options.
Proposals for votes can be formally submitted by verified members in the channel #🧠｜idea-collection by starting the message with “Proposal:”.
The first proposal will be a poll on a possible change of the amount of $BANANA needed for a CyberKongz VX name change, but the utility for this community-driven polling is endless. (except adding $BANANA yield to Babies and VX)
We think the community will be excited about their OOHs, and the opportunity to influence the direction of CyberKongz.
For all of our upcoming votings, we recently implemented a new strategy with a quorum of 31%. We also removed the voting power for liquidity pools to spread it out to all other active holders.
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