This document presents the voting protocol for the Open Campus DAO as detailed in OCP-1.
The Open Campus DAO, a decentralised entity, is driven by its community. All EDU token holders must have an open and fair mechanism to express their perspectives and participate in decision-making that shapes the trajectory of the DAO. The voting process has been designed to ensure equality and transparency, enabling all EDU token holders to participate in decision-making.
The Open Campus DAO continues to expand and diversifies as more members enter the ecosystem. A system for members to voice ideas and a well-defined process in place to allow these ideas to be submitted as proposals that the community can approve for implementation. A voting mechanism must be implemented for a community to reach a consensus to approve proposals. This voting proposal is outlined in the following VOTING PROCESS section.
- Administrators: Only can post proposals to Snapshot after ensuring each has completed the correct process.
- Eligibility: All EDU token holders are eligible to vote on proposals. A holder’s voting power is determined by the number of tokens they possess.
- Voting Period: Voting for each proposal will be open for 7 days (including the posted date). New proposals can be posted anytime, as directed by the Council. This marks the opening of the 7-day voting window. Following the posting, an announcement will be made via the Open Campus Discord #dao-governance channel.
- Voting Options: For each proposal, token holders can vote ‘In favor’, ‘Against’, or ‘Abstain’. Voting ‘In favor’ signifies support for the proposal as it is. Voting ‘Against’ signifies disapproval of the proposal in its current form. Abstaining from voting is also an option for token holders who prefer not to vote.
- Voting Mechanism: Voting will be conducted on Snapshot, a gasless voting platform. To vote, token holders will need to connect and authenticate their wallets. One EDU is equal to one vote. As votes cannot be divided into fractions and the total number of votes should not ever exceed the number of tokens minted, the number of votes will be rounded down if a fractional number of tokens is owned by the voter (i.e., 100.1 tokens will result in 100 votes, and so will 100.9 tokens).
- Proposal Approval: A proposal is approved if it receives more ‘In favor’ votes than ‘Against’, provided the quorum is met. If the proposal is approved, it moves to the ‘In process’ status, and the Council will implement it.
- Proposal Rejection: If a proposal receives more ‘Against’ votes than ‘In favor’ votes, or if the quorum is not met, the proposal is rejected. Rejected proposals move to the ‘Archived’ status.
- Transparency: All votes are recorded and publicly available for review on Snapshot. The voting results will be announced promptly after the voting period ends.
- Snapshot: Snapshot is a decentralized, gasless voting platform used for the voting process.
- Wallet Authentication: EDU token holders must connect and authenticate their wallet to vote on Snapshot to ensure secure and verified voting.
- Voting Power: The voting power of a token holder is proportional to the number of EDU tokens they hold at the time of the vote.
- Implement voting strategy
- Establish voting rules
- Open ratification of OCP-1 and OCP-2
The ongoing voting process applies to all proposals submitted to the Open Campus DAO.