Vote & Implementation

Everything you should know about LIP voting & implementation

After being accepted and passing of the mandatory three day discussion in its separate Discord channel, the LIP’s creator will have one week to collect either

1. 50k LIX worth of delegated voting power, or

2. support by the core team itself

in order to submit the proposal on Snapshot. Failure to meet either of the mentioned criteria will result in the LIP being rejected and the Discord room being closed down. In case either one of the criteria is met during the week following the three day discussion, the proposal will be submitted on Snapshot and a one week voting window will commence. At the end of the one week voting window, the proposal is accepted if more than 50% of the casted voting power voted for the LIP, and rejected otherwise.

As the initial governance structure will be experimental, the core team will reserve the right to reject a LIP if it is deemed a serious threat to or attack on the protocol and/or its community. Although against the spirit of decentralization, we see this as a temporary safety measure as the financial barriers for harm are still quite low when compared to more established DAOs.