Quorum
2% of the circulating supply (750 million). The purpose of this quorum is to ensure that the only measures that pass have adequate voter participation.
Background of the proposal
Since the mainnet upgrade of REI Network, REI Network validators have been running stably for more than 2 months to verify, package, calculate, and the total number of staked votes from the community has exceeded 150 million. Validators have made great contributions to the stable operation and security verification of REI Network. At the same time, REI Network is also a public chain that always follows community suggestions from rebranding and upgrading, super node election, staking management, hard forks, and the launch of the FressStake module, and determines the development direction through on-chain governance. The development of REI Network and community governance promote and achieve each other.
In order to incentivize stakers and on-chain governance, REI Network Foundation proposes to adjust the voting weight for addresses participating in proposal snapshot voting. On the one hand, it can increase the enthusiasm of REI Network community users to stake, and on the other hand, active users are able to obtain more on-chain governance rights to promote the decentralized governance of REI Network.
Specific target
Improve the enthusiasm of REI Network community users’ staking, encourage active users to own more on-chain governance rights, and promote the decentralized governance of REI Network.
Necessary decision
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Agree to give voters different snapshot voting weights according to their staked voting power.
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Agree on the specific weight coefficient corresponding to the staked voting power.
The specific content of “snapshot voting weight”
Voters are given different snapshot voting weights according to their staked voting power. The specific coefficients are as follows:
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Staked Voting Power < 1,000 REI, Weight Coefficient=1.1
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Staked Voting Power 1,000-10,000 REI, Weight Coefficient=1.5
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Staked Voting Power 10,000 REI, Weight Coefficient=2
For example, if user A voted 500 REI for a validator, the address used for staked voting has 500*1.1=550 voting rights when voting for the governance proposal.
User B voted 2000 REI for a validator, the address used for staked voting has 2000*1.5=3000 voting rights when voting for the governance proposal.
User C voted 20,000 RE for a validator, the address used for staked voting has 20000*2=40000 voting rights when voting for the governance proposal.