Finschia Governance Vote
The FIRST Ever Governance Voting Platform on Finschia Network
Last updated
The FIRST Ever Governance Voting Platform on Finschia Network
Last updated
On 13 July, Finschia Foundation has announced Finschia Governance Member (FGM) for Governance 2.0 and the formation of a consortium.
NEOPIN has been participating as a Governance Member in Finschia Governance and jointly operate the public blockchain Mainnet Finschia.
Staking $FNSA will allow you to earn up to 11.9% APR passive income by contributing to the security and growth of the Finschia ecosystem. It’s a great way to put your $FNSA to work and enjoy rewards in return.
Currently, the privilege of participating in major decision-making resides solely with Finschia Governance members.
By launching Finschia Governance on NEOPIN for individual $FNSA holders, we will empower them to propose and advocate for protocol changes, fostering a community-operated governance model through community voting.
Users who have staked in FNSA Stake product through NEOPIN will be allocated voting powers based on their staking amount.
A number of voting powers is calculated based on the amount of FNSA staked, and the number of voting powers is updated daily at 00:00 UTC.
For each agenda, a user’s voting power may vary as it is determined by taking a snapshot of the number of voting powers each user has at the time the agenda is listed on the NEOPIN governance page. This means additional staking will not be reflected in the number of voting power for an agenda if it is already listed.
Voting powers can be used to vote either “YES” or “NO” for each agenda item. When you vote, all of your voting powers for that agenda will be used, and you cannot change your vote once it has been submitted.
If less than 33% of the total voting powers issued are not voted by the end of the agenda, the result will be reflected as an “Abstain” and considered defeated. In this case, NEOPIN will conduct an internal review and vote for or against the proposal in accordance with [NIP-6].
If, on the other hand, more than 33% of the total voting powers are voted, the result of the proposal will be reflected by the majority rule of either the “YES”/”NO” option.
If neither “YES” nor “NO” receives more than half of the total votes, the result will be reflected as “Abstain”.
Please see the guide below on how to vote on the Governance Voting Platform on NEOPIN.
