EPNS has launched the initial phase of Governance recently. On this journey towards Progressive Decentralized Governance, we made the ROCKSTAR Contest process decentralized. Weekly $ROCKSTAR winners are now chosen by the community through governance voting.
Last week we submitted our first-ever Governance Proposal on our Official EPNS Snapshot Space, to select our weekly $ROCKSTAR winner. Here are the updates on the proposal and an overview of the process.
Congratulations to @Minie551 🎊, our first-ever EPNS $ROCKSTAR Winner chosen via Governance 🥇. The EPNS $ROCKSTAR Contest started as a way to give back to the most supportive and active members of the community, who consistently contribute value to the EPNS ecosystem. Along with the NFT, each recipient also receives 2400 $PUSH 🤩 tokens. (To know more about the contest rules, refer to the article here)
Proposal Overview 📜
- Proposal Title: Week #25 $ROCKSTAR of EPNS - Nominations
- Winner: @Minie551 🎉
- Quorum: 448,288.68 $PUSH votes (calculated as of 11 Oct 2021)
- Snapshot Taken at block: 13397657
- Voting Started: On October 11, Monday 4.30 pm UTC
- Voting Ended: On October 18, Monday 4.30 pm UTC
- Snapshot Proposal Link: https://snapshot.org/#/epns.eth/proposal/QmVhcabX4bH3zzAVVQrhzhHBuS5BfgpNPK37yzem9LFtsy
$ROCKSTAR Selection Process via Governance⚙️
- PUSH Team Champions (EPNS Internal Team) nominate 4 contestants from past submissions
- A PUSH Delegatee (someone with 75k delegated PUSH) submits the proposal on Snapshot every Monday till the contest ends.
- The proposal is up for voting for 7 days.
- Once the voting ends, the contestant who meets the quorum of votes (4% of the circulating supply of $PUSH) and who gets the maximum number of votes becomes the winner.
Snapshot Rules for $ROCKSTAR Proposals
- Voting Eligibility: Anyone with delegated $PUSH votes can vote on ongoing proposals. The delegation has to be done before the proposal’s Snapshot block. If you hold $PUSH, you can delegate your voting power here, under the PUSH Governance section.
- Proposal Submission Eligibility: Only users with at least 75k delegated $PUSH or a PUSH Delegatee can submit the proposals on the snapshot.
- Proposal Criteria: Only ROCKSTAR Proposals are allowed to be submitted directly on Snapshot without going through other Governance Phases on EPNS Discourse Forum. PUSH Champions will be moderating the proposals on Snapshot by the rules mentioned here.
- Quorum: Quorum is defined as 4% of the circulating supply of $PUSH voted in the affirmative. The proposal needs to meet the Quorum for it to be considered valid. If the Quorum is not achieved in 7 days for a proposal, then the proposal is considered as defeated.
To know more about the Governance Processes and rules, refer here.
Let’s PUSH together! ❤️