Only staked UNID in a single-sided US NFT will be able to participate in the vote.
1 UNID staked in single-sided US NFT = 1 vote.
Your voting power includes the number of UNID staked across all your single-sided staked NFTs.
A snapshot is taken once the proposal is live, and only the UNID staked in a single-sided US NFT will go toward your voting power. There is no gas fee to vote.
You can vote on each proposal yourself or delegate your votes to a third party. To be eligible to vote, you must hold UNID in your wallet and delegate it at the start of voting.
Staked/Pooled UNID are NOT eligible! Un-Stake/Un-Pool UNID to vote.
Submitting a Proposal
1.000.000 UNID Token required to submit a proposal
The proposer must have at least 1,000,000 UNID, as holdings in the wallet or as a result of delegations from other participants.
Types of Proposals: Off-Chain & On-Chain
Off-Chain Proposals via Snapshot
Snapshot is a off-chain, gasless, multi-governance community-polling dashboard.
UniverseSwap community members can submit proposals without writing code. It is free to vote and does not require any spending or transferring of UNID.
The proposals on Snapshot are non-binding and act as a means to gauge community support for a proposal prior to implementing the code. Anyone can submit a proposal, and proposals can be multi-option.
You must have UNID tokens in your Wallet at the start of the proposal. You cannot participate in Snapshot polling with staked or pooled UNID.
On-Chain Proposals via UniverseSwap
On-chain proposals are code and not written proposals. Although they come with a written description, their power comes entirely from the smart contracts they execute.They represent widely supported submissions from the UniverseSwap Snapshot polls. Proposals have the power to execute any smart contract call from the protocol’s Timelock contract. These calls can do things like spend funds from UniverseSwap’s community treasury or change the contracts that manage daily UNID reward distribution.
All proposals must meet the following requirements:
Code must be complete at submission date.
Proposals are pass-fail only, no multiple-choice or variants within a single proposal.
Proposer must have 1,000,000 UNID, either in own Wallet or delegated by third-parties.
For example, Proposer A holds 25,000 UNID, and the other 975,000 UNID are delegated by third-parties/community members supporting the proposal.
Proposer must maintain the balance of 1,000,000 UNID tied to the wallet until the proposal fails or is executed. During the proposal period these UNID tokens cannot be allocated into liquidity pools or moved.
If the balance falls below the threshold, the proposal may be cancelled by anyone.
Only one active proposal per wallet at a time.
The proposal will then follow the following process:
1.Delegation Period The proposal is registered as “Submitted” and begins a 24 hour holding period before voting begins. Interested voters use this time to prepare for voting and ensure their UNID is properly delegated.
2.Voting Period The proposal moves to the “Active” stage and begins a three day voting period. Votes are then cast either for or against the proposal by individuals or their delegated representatives (more on the voting process below).
3.Timelock Period or Termination Proposal either “Fails” or goes to “Pending/Queued” status, where it will spend seven days waiting to be executed by the Timelock contract. Failed proposals do not proceed further.
4.Implementation After the seven-day waiting period, the Timelock contract executes the “Pending/Queued” proposal and the changes are adopted across UniverseSwap.
Delegating
BEFORE the on-chain vote, you need to delegate your UNID to yourself. Make sure to unstake and/or withdraw your UNID to delegate.
Voting
During the voting period, you have to hold UNID tokens in your wallet. Staked or pooled UNID tokens are NOT eligible and MUST be unstaked and/or unpooled in order to participate in the voting process. After voting has begun, you may pool or spend your UNID.
un-stake > delegate > vote > re-stake
Finish line
Governance votes are decided by simple majority. There is no quorum threshold of votes. If a proposal passes, it will be executed after it was queued in a 7-Day Timelock contract.
