BLOX FINANCE
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Voting Mechanics

In Blox, users are allowed to vote once a week in selected pools. Voters are incentivized with 100% of the trading fees and bribes across the liquidity pools they cast their votes. The fee structure for voters enables competitive swap prices and solid revenue generation. This leads to an increase in both the lock rates and regular incentives for liquidity provision.
The voting mechanics creates a level of decentralized autonomy between the several pools listed on Blox for all traders. The incentives given encourage each pool's growth enabling them to attract more liquidity providers and traders to participate in the ecosystem. As a result, Blox achieves a high level of liquidity across all its pools, ensuring users can easily trade assets between various assets with minimum slippage.

Creating a Proposal

Users who have 1000 $blox are able to create a proposal.

Operation Process:

  1. 1.
    Delegate $blox to obtain ballots
  2. 2.
    Create a proposal
    1. 1.
      Select the proposal operation
    2. 2.
      Select the wallet address for redemption
    3. 3.
      Fill in the quantity
    4. 4.
      Fill in the proposal title
    5. 5.
      Fill in the proposal content
    6. 6.
      Submit
  3. 3.
    Community starts voting
  4. 4.
    Voting results processing

Vote for the Proposal

Any user with $blox can vote.
  1. 1.
    Open a proposal ( https://app.bloxfi.io/vote)
  2. 2.
    Delegate $blox to get a vote
  3. 3.
    Start a ballot (vote for or against)
  4. 4.
    Contract call
  5. 5.
    Done
Once a new proposal is created, the community can vote on it during a 7-day voting period. If the proposal has more votes in favour than against it, and the number of votes in favour exceeds 10% of the token's current circulation, the proposal is approved and the status is changed to pending.
Pending proposals have a 2 day lock-in period where all governance and other management actions need to remain in lock-in for 2 days before they can be executed by the contract.

Proposals are divided into 6 status:

  • Active
  • Suceeded
  • Defeated
  • Queued
  • Executed
  • Expired

Proposal type:

Distribution of buyback pool tokens, Distribution of Team Tokens, Distribution of market tokens, Distribution of transaction fees, Adjusting the mining pool's arithmetic power ,Mining pool on/off, IDO token listing, Other proposals.......
Note: This document may be subject to minor adjustments once the product is officially launched.
Last modified 11mo ago