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Token holders can participate in community governance through voting.
YOHO is an ERC-20 token that governs the key parameters of HK.Chat DAO. These parameters determine the growth and development of the community.
Most of the decisions made by HK.Chat DAO have publicly available outcomes, ensuring that all decisions are well-informed and properly communicated with the wider community.
All ideas and proposals are initially published on the DAO forum. The point of this is to receive community feedback. All the proposals go through a phase of improvements and objections. If the proposal is welcomed & feedback is incorporated, it can move on to the next step.
Discussion Timeframe: Minimum 7 days
The second phase is conducted through gas-less Snapshot voting. Community members who are delegated a minimum number of tokens are able to submit proposals that will be subject to a 14-day voting period. After the 14 days, if the proposal receives support from a majority of the participating votes, with a minimum of 10M YOHO yes votes.
Proposal Threshold: 100,000 YOHO
Voting Delay: 2 days
Voting Period: 14 days
Quorum: 10M YOHO
Community governance has the power to control the protocols' value accrual and distribution