Lattice Governance Process and the veLTX Treasury
Lattice Gateway encourages community governance with respect to platform use and fees while granting veLTX token holders the right to vote on various launchpad project initiatives and fee-sharing proposals put forth through the platform.
Proposals
Proposals may be put forth by any veLTX token holder with at least 100 veLTX in their wallet connected to the Lattice platform. Only whitelisted addresses may submit proposals for the initial proposal rounds, but this limitation will be lifted once the submission process has been successfully approved and adopted by the voting community.
Lattice Gateway proposals will be focused on launchpad project acceptance, platform fee-sharing, token airdrops, and other fee-generating events or activities associated with the Lattice Gateway platform. veLTX token holders may also vote on efforts to grow the Lattice token treasury and direct the use of funds in the treasury. Any changes to this policy will be put forth to the community for approval.
Lattice Treasury
To enhance the scope of veLTX governance, a treasury will be put in place to be funded by fees imposed on platform activities and token airdrops. veLTX token holders will vote on treasury funding methods and allocations. Use of treasury funds could be directed by veLTX token holders for such things as project grants, additional project funding, potential platform enhancements, etc.
Accordingly our first proposal will be to establish the fee to fund the treasury.
Voting
Once a proposal is activated on the voting platform, the voting period will be specified and will generally run for a period of 7 to 10 days. In order for a particular outcome of a proposal to be adopted, a simple majority of 51% of all committed veLTX must be associated with the winning outcome.
Important: In order for a vote to be valid, a quorum of 33% of all veLTX tokens must be committed to the proposal by the participating veLTX token holders before the end of the voting period.
veLTX token holders may view proposals and vote using the snapshot voting system found in the governance section of the Lattice.is website: https://vote.lattice.is
Process Outline
- Pre-discussion on Social Media on the Lattice Telegram channel:
- Confirm community interest in a possible proposal
- Work out the major points of a possible proposal
2. Promote discussion to the Governance forum https://commonwealth.im/lattice-gateway/
- Main points of the proposal to be clearly articulated
- Discussion about problems and solutions
- Changing of the proposal based on discussion
3. Creation of the Proposal
- Finalization of proposal for voting
- Need 100 veLTX to create proposal
4. Voting on the Proposal
- Actual voting by veLTX holders
- Need 33% of all veLTX voting in order to reach a quorum
- Simple majority vote wins (51%)
5. Result confirmed
- Announcement of voting results
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Important Links:
- List your Project for Funding on Lattice Launchpad: Apply here
- Participate in our Launchpad
- Join the Lattice Community on Telegram
- Follow Lattice on Twitter
