Governance Token

Governance Period

Every 2 weeks, votes on proposals and active referendums will be evaluated by the blockchain governance module.

This allows for a minimum of 2 weeks to review proposal submissions followed by 2 weeks of voting. Votes on existing proposals will either succeed and be incorporated into the chain, or be rejected. An exact tie-vote will be considered negative/failed.

Proposal Submission Requirements

  • Must conform to the FlyGuyz Governance Proposal Standard

  • At least one full governance period must pass before the proposal is accepted (or rejected) for a referendum.

  • Proposals must pass a minimum threshold of positive votes.

  • The proposal submission must receive at least 50% positive votes to pass.

  • A minimum of 10,000 FLYY must be bonded to the submission.

Voting on Referendums

When a proposal is accepted, a referendum period begins. Eligible wallets will be able to view all accepted proposals during the referendum and place their votes. A small minimum threshold of FLYY will be required to place a vote.

Last updated