Kronos DAO
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Governance

Governance

Kronos DAO governance establishes a system for voting upon the protocol’s policies and direction.

Governance voting procedure

1) Register for voting

The Kronos DAO governance proposal will be registered by the Kronos DAO team. We are planning to enable KRNO holders to register a proposal directly.
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2) Voting period

The vote will take place for 2 days. The proposal will be registered 5,400 blocks (around 90 minutes) prior to the vote. At the time of the registration, there will be a snapshot of all wallets, and vKRNO will be allocated at a 1:1 ratio to all eligible wallets. Further distribution of vKRNO will not take place once the voting begins. The details of the vote cannot be changed once you exercise your vote.
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3) Approval

If the vote satisfies the minimum participation criteria and final approval criteria at the time of the completion of the vote, the vote would be considered approved. If not, the vote will be canceled.

(1) Number of exercisable votes

This is the total number of voting rights issued to the protocol based on snapshots at the time the vote began, indicating the sum of the total number of voting rights allowed to participate in the vote. The team does not participate in the vote.

[Tokens subject to vKRNO distribution]

  • sKRNO
  • wsKRNO
  • wsKRNO deposited as collateral
  • owsKRNO

[Tokens not subject to vKRNO distribution]

  • KRNO
  • KRNO/sKRNO/owsKRNO that has not been redeemed
  • Holding with KRNO LP
  • Ecopot
  • etc
Note That owsKRNO is included in the number of exercisable votes but are not subject to the automatic vKRNO airdrops. Attach and send an image showing your wallet address to [email protected] before the voting ends to receive vKRNO.

(2) Minimum participation criteria.

Based on the number of voting rights available, it is recognized as a valid vote only when at least the participation rate is above 30%.

(3) Criteria for final approval

(In the case of two options) The total number of voters must be above the minimum participation rate and at least a majority of the total voters agree.
(In the case of three or more options) The total number of voters must be above the minimum participation rate and the option that received the most votes will be passed.
4) Vote results
Results of the vote will be announced to the community within 12 hours of the end of the vote.