Horse Protocol Governance is NOW LIVE
Horse Protocol Governance is NOW LIVE
Today, we are extremely excited to announce that Horse Protocol governance is now live! From this point onward, all changes in Horse Protocol will be proposed and decided by the community members of HRS tokens holders, and this officially marks the beginning of the fully-decentralization of Horse Protocol.
What can DAO members do?
Everything. Passed proposals are not suggestions to consider but rather actions that have to be taken. DAO members can submit proposals of any kind that they think will benefit Horse Protocol and HRS community as a whole.
Here are some possible examples:
· Stop the minting of HRS tokens
· Continue the HRS Frequency Mining reward for the next 2 billion total volume instead of 800 million
· Add $BNB to the private transactions and Frequency Mining pool
· Distribute funds in treasury to HRS tokens holders.
Who can create proposals and vote on proposals?
To prevent manipulation of the protocol, we have set the bar of proposal creation to anyone that holds more than 0.5% of the total supply of HRS tokens. As the max supply of HRS tokens is currently capped at 1 million (subjected to change via governance proposals and voting), this means that anyone that holds 5000 or more HRS can create proposals for the rest of the DAO members to vote. Any proposals created need to have an “invalid” option, meaning DAO members may not create a proposal asking “how much extra reward should we distribute to token stakers?” and give the options of only “5%, 10%,15%” without giving the option of “we should not distribute extra reward.”
Anyone that holds HRS or sHRS tokens can vote on proposals. In order for a proposal to past, it needs to meet both of the two criteria: it has to be a majority vote and it has to have 20,000 (2% of the max token supply) or more votes.
We will add the governance to Horse Protocol website soon, for now you guys can access it through this link here:
https://snapshot.org/#/hrs.eth
Now, go exercise your rights and vote!
Where to find us:
Website: https://horseprotocol.com
Twitter: https://twitter.com/horseprotocol
Telegram: https://t.me/ horseprotocol
Medium: https:// horseprotocol.medium.com
GitHub: https://github.com/ horseprotocol
