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Voting Procedures

Introduction

The Voting Procedures for the EMC DAO are designed to provide a clear and structured framework for conducting and validating votes on governance proposals. The procedures aim to ensure transparency, fairness, and effective community participation in the decision-making process within the EMC ecosystem.Voting Process
  1. 1.
    Proposal Review Period: Once a proposal is submitted and passes the initial review, it will enter a review period during which the community can assess its merits and potential impact.
  2. 2.
    Voting Period: Following the review phase, the proposal will proceed to a voting period. Staked $EMC token holders will have the opportunity to cast their votes based on their respective voting power, determined by the duration of their stake.
  3. 3.
    Quorum Requirement: A minimum threshold of participation, as determined by the EMC DAO, must be met for the vote to be considered valid.
  4. 4.
    Voting Mechanism: The EMC DAO will utilize a secure and transparent voting mechanism, such as snapshot or on-chain voting, to ensure the integrity and immutability of the voting process.

Validation and Outcome

  1. 1.
    Vote Tallying: Once the voting period concludes, the votes will be tallied and validated to determine the outcome of the proposal.
  2. 2.
    Outcome Notification: The outcome of the vote will be promptly communicated to the community, along with the necessary steps for implementation or further action based on the result.
  3. 3.
    Record-Keeping: A comprehensive and immutable record of the voting results will be maintained to ensure transparency and accountability within the EMC DAO.
The Voting Procedures outlined above are integral to fostering a robust and participatory governance framework within the EMC ecosystem. By adhering to these procedures, stakeholders can actively contribute to the decision-making process and help shape the future development of the EMC network.