Overview

Controllers

Governance begins with Voice. In order to propose a change of any kind, a person needs to have at least 500 $VOICE. These can be tokens solely owned by an individual, given Governance rights by other $VOICE owners, or a combination of both. These accounts are known "Controllers".

Example Proposals

  • Funding requests in $MUTE (to be project managed by the proposer)

  • Changing the % for $VOICE transaction tax

  • Changing the % for $MUTE transaction tax

  • Changing the % for the $VOICE LP token withdrawal tax

  • & more will be added once the DEX is live & beyond

VOICE Voting

Once proposed, all holders of $VOICE are eligible to vote. Holders of the token are also able to delegate their voting rights to other like-minded individuals who can vote on their behalf. In order for a proposal to pass, at least 20% of the total $VOICE supply needs to vote, with at least 50% being in favor of the change.

MUTE Voting

For proposals that are requesting payment for a particular service in $MUTE, holders must ratify, or agree, with the successful passing of a Voice Governance vote. Mute has no ability to propose the minting or release of $MUTE tokens. As mentioned previously, only Voice has the ability to propose Governance actions.

Unlike with Voice, $MUTE voting requires a user to hold at least 40K $MUTE to be eligible to vote, however, this can include delegated voting rights from other users, similar to Voice.

10% of all $MUTE must vote with at least 50% being in favor of the minting/release of tokens. If passed, the funds are automatically sent to the Voice Controller by means of a smart contract. From there, the Controller is responsible in seeing that the proposed use of funds is carried out.

Additional Information

You can read more about how Governance works by checking out the Medium article here.