GOVERNANCE
The Nextswap Protocol is a public good owned and governed by NEXT token holders
The NEXT Token
The Nextswap token enables community ownership and active stewardship of the Protocol. NEXT holders govern the Protocol through an on-chain governance process.
THE GOVERNANCE PROCESS
Share your opinions and shape the future of the protocol
Temperature Check
The Temperature Check process determines whether there is sufficient will to make changes to the status quo. At the end of the two days, a majority vote with a 25k NEXT yes-vote threshold wins. If the Temperature check does not suggest a change from the status quo, the topic will be closed on the governance site. If the Temperature Check does suggest a change, proceed to Stage 2: Consensus Check.
Consensus Check
The Consensus Check process incorporates feedback from the Temperature Check and establishes formal discussion around a potential proposal. Consensus Check is accompanied by another off-chain vote. At the end of five days, a majority vote with a 50k NEXT yes-vote threshold wins.
Governance Proposal
A Governance Proposal is the final step in the governance process. The proposal should incorporate feedback from the Consensus Check and is accompanied by executable on-chain code. In order to submit an on-chain Governance proposal, a delegate must have a minimum balance of 2m NEXT. The voting period lasts 7 days and a majority vote with a 40m NEXT yes-vote threshold wins.
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