According to the Whitepaper of the Nami Frame Futures (NAO) project, investors holding NAO tokens can join the Governance Pool to share in revenue from transaction fees and vote on changes from the project.
Today, July 13rd, ONUS and Nami Foundation officially announced the Voting Mechanism of the NAO Governance and opened voting for Proposal No. 1 of the Nami Frame Futures project.
Voting Mechanism
The voting mechanism of the NAO Governance Pool will be applied as follows:
- Each proposal needs more than 50% Approval to be approved and implemented.
- Each user has only one vote. The decision will be reserved until the voting period ends.
- The voting rate is based on the percentage of user NAO contributions in the NAO Governance.
Note: The number of NAO users added to the NAO Governance Pool after voting will be automatically updated to the Voting Rate.
Proposal No. 1
To increase the demand for NAO owners to join the Governance Pool and use NAO tokens as trading fees, the NAO project proposes to increase the minimum amount to participate in the NAO Governance.
- Voting time: From 08:00 UTC on July 23rd to 16h00 UTC on July 24th.
- Specifically: Increase the minimum participation in the NAO Governance Pool from 500 NAO to 10,000 NAO.
- Condition: Users need to be a member of NAO Governance to participate in the voting process.
Notes
- If Proposition 1 is approved, the Nami Frame Futures project will begin to apply starting at 17:00 UTC on July 25th, 2022.
- Users who joined the NAO Governance Pool with an amount of less than 10,000 NAO before the application of the new regulation will not be affected and will still receive the weekly revenue share.
Detailed instructions
To participate in voting, users can follow the steps below:
- Step 1: At the ONUS Futures Wallet screen, select NAO Governance.
- Step 2: Scroll down to the Proposals section, and select Proposal 1
- Step 3: Select Proposals
- Step 4: Choose Reject or Vote.
