Voting Process

Voting in the Arowana Protocol is conducted through the following 5 steps:

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1. Proposal Submission

• Staking ARW Tokens

  • Only users who stake a specified amount of ARW tokens are eligible to submit proposals.

• Proposal Submission

  • Proposals are submitted via smart contracts.

  • Proposals must include the changes, reasons, and expected impacts.

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2. Discussion Period

• Discussion after proposal submission

  • After the proposal is submitted, a discussion on the proposal will take place within the community.

• Sharing opinions

  • Users share opinions and discuss the validity of the proposal through various community channels such as forums, Discord, and Telegram.

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3. Voting Phase

• Voting begins after the discussion period ends

  • When the discussion period ends, the proposal moves to the voting phase.

• Smart contract-based voting

  • Voting is automatically conducted through smart contracts, and all voting records are transparently recorded on-chain.

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4. Voting Counting

• Automatic counting by smart contracts

  • The smart contract automatically counts the voting results.

• Proposal adoption when criteria are met

  • A proposal is adopted when certain criteria are met.

  • For instance: 50% or more in favor, 20% or more participation rate

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5. Execution

• Execution of adopted proposals

  • When a proposal is adopted, it is automatically reflected in the protocol or executed by the Arowana Protocol team.

• Unaccepted Proposals

  • If a proposal is not accepted, the proposer may revise or resubmit the proposal.

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Voting Criteria

1. For / Against

   • Votes are cast simply as “For” or “Against.”

2. Quorum

   • A minimum participation rate is required for the vote to be valid.

   • For instance, at least 20% of all ARW tokens must participate.

3. Approval Threshold

   • A proposal is approved if more than 50% of the votes cast are in favor.

   • Ensuring that only proposals with majority support are implemented.