GridZone Governance

GridZone Governance

GridZone platform is governed and upgraded by the community of (ZONE) token holders using three components; the ZONE token, Governor Alpha, and Timelock contracts. Together, these contracts allow the GridZone community to propose, vote, and implement changes throughout the platform.

ZONE token holders are able to make proposals for any platform changes, vote directly, or delegate their votes to representatives who vote on their behalf. In this way, ZONE token holders have total control over voting rights, GridZone assets, distribution of resources, and future developments.

Any address with at least 0.1% of ZONE tokens delegated to it may propose governance actions. When a proposal is created, the community of ZONE holders can submit their votes during a 3-day voting period.

In addition to direct voting which allows users to vote on proposals directly from their wallet, GridZone voting mechanism also utilizes a delegated voting feature that allows users to delegate their votes to others, making the GridZone platform more of a representative democracy.

At least 4% of votes in support of a proposal is required in order for a quorum to be reached and for a vote to succeed. If voting is successful, the proposal is queued in Timelock, and can be implemented after 2 days.

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