{"posts":[{"id":19233,"title":"IBCO proposal voting rules and guidelines","excerpt":"Overview The voting interface and decentralized voting system are provided through the Aragon Voice Framework. Aragon is also the framework used to deploy the IBCO.\u00a0 This system allows for maximum community participation as voting does not attract a gas fee.\u00a0 The Aragon Voice framework will create a Merkle Proof Snapshot of the OVR token ownership [&hellip;]","content":"<h2><b>Overview<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The voting interface and decentralized voting system are provided through the <\/span><a href=\"https:\/\/voice.aragon.org\/\" rel=\"noopener\" target=\"_blank\"><span style=\"font-weight: 400\">Aragon Voice Framework<\/span><\/a><span style=\"font-weight: 400\">. Aragon is also the framework used to deploy the IBCO.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This system allows for maximum community participation as voting does not attract a gas fee.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Aragon Voice framework will create a Merkle Proof Snapshot of the OVR token ownership distribution on the Ethereum blockchain that will be used to establish voting weight by address.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The snapshot will only include tokens controlled by <\/span><a href=\"https:\/\/info.etherscan.com\/what-is-an-ethereum-address\/#:~:text=Externally%20Owned%20Address,-Externally%20Owned%20Address&amp;text=The%20Ethereum%20address%20is%20the,the%20funds%20in%20an%20address\" rel=\"noopener\" target=\"_blank\"><span style=\"font-weight: 400\">EOAs<\/span><\/a><span style=\"font-weight: 400\">. As such, tokens that are vesting or staked, and controlled by smart contracts in general, will not be eligible for voting. Such a snapshot warrants that tokens cannot be used more than one time for a single vote. It also avoids the risk of flash loan-based governance attacks.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">The voting window will be <\/span><b>seven days<\/b><span style=\"font-weight: 400\">. The quorum for the vote to have validity is set to 10% of the circulating supply, with a 51% qualified majority.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The circulating supply for the voting is calculated as follows:\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Circulating Supply = OVR Token Total Supply \u2013 ( Locked in Vesting + Locked in Staking + Token In Burn SC)<\/span><\/p>\n<p><span style=\"font-weight: 400\">OVR Token Total Supply = 90,043,718<\/span><\/p>\n<p><span style=\"font-weight: 400\">Locked in Vesting = 61,307,204<\/span><\/p>\n<p><span style=\"font-weight: 400\">Locked in Staking = 1,114,401<\/span><\/p>\n<p><span style=\"font-weight: 400\">Token In Burn SC = 2,099,890<\/span><\/p>\n<p><b>Circulating supply = 25,522,223<\/b><\/p>\n<p><b>Quorum (10% Circulating Supply) = 2,552,222<\/b><\/p>\n<p>\u00a0<\/p>\n<h2><b>The process<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Voting will officially START on <\/span><span style=\"font-weight: 400\">19\/04\/23 8:00 PM CEST <\/span><span style=\"font-weight: 400\">\u00a0and will officially END on <\/span><span style=\"font-weight: 400\">26\/04\/23 8:00 PM CEST.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">To vote, <a href=\"https:\/\/voice.aragon.org\/processes\/#\/0x21b2ea5345d2121bd9f46ec5af4271384bbe58192ba32996ddcc0b0000000027\">navigate to the following page<\/a>.<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400\">Connect your MetaMask wallet<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><img decoding=\"async\" alt=\"\" class=\"alignnone size-medium wp-image-11827\" height=\"400\" loading=\"lazy\" src=\"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/connect-metamask-1410x1280-1-441x400.png\" width=\"441\" \/><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li><span style=\"font-weight: 400\">Select <\/span><b>Yes<\/b><span style=\"font-weight: 400\"> or <\/span><b>No<\/b><span style=\"font-weight: 400\"> on the proposal<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><img decoding=\"async\" alt=\"\" class=\"alignnone size-medium wp-image-11832\" height=\"400\" loading=\"lazy\" src=\"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/voting-1646x1280-1-514x400.png\" width=\"514\" \/><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li><span style=\"font-weight: 400\">Sign the transaction on Metamask (0 gas fees)<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><img decoding=\"async\" alt=\"\" class=\"alignnone size-medium wp-image-11837\" height=\"400\" loading=\"lazy\" src=\"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/sign-transaction-1-255x400.png\" width=\"255\" \/><\/p>\n<p>\u00a0<\/p>\n","permalink":"ibco-proposal-voting-rules-and-guidelines","date":"2023-04-19 00:00:00","image_small":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/ibco_vote_1920x1080-150x150.jpg","image_medium":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/ibco_vote_1920x1080-300x169.jpg","image_large":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/ibco_vote_1920x1080-1024x576.jpg","image_full":"https:\/\/blog.ovr.ai\/wp-content\/uploads\/2024\/02\/ibco_vote_1920x1080.jpg","single_url":"https:\/\/blog.ovr.ai\/ibco-proposal-voting-rules-and-guidelines\/","translations":{"en":{"single_url":"https:\/\/blog.ovr.ai\/ibco-proposal-voting-rules-and-guidelines\/","permalink":"ibco-proposal-voting-rules-and-guidelines"},"fr":{"single_url":"https:\/\/blog.ovr.ai\/fr\/regles-et-lignes-directrices-pour-le-vote-sur-libco\/","permalink":"regles-et-lignes-directrices-pour-le-vote-sur-libco"},"es":{"single_url":"https:\/\/blog.ovr.ai\/es\/ibco-proposal-voting-rules-and-guidelines-2\/","permalink":"ibco-proposal-voting-rules-and-guidelines-2"},"tr":{"single_url":"https:\/\/blog.ovr.ai\/tr\/ibco-proposal-voting-rules-and-guidelines-3\/","permalink":"ibco-proposal-voting-rules-and-guidelines-3"},"zh":{"single_url":"https:\/\/blog.ovr.ai\/zh\/ibco-proposal-voting-rules-and-guidelines-4\/","permalink":"ibco-proposal-voting-rules-and-guidelines-4"}}}]}