1. What this vote is about

In DigixDAO governance, there are two main types of decision makers: normal participants, and moderators. Moderators are reputable participants who need to lock up at least a minimum amount of DGDs. They do extra moderating work and get rewarded from the moderator rewards pool.

This vote is to decide on the portion of the total DGX rewards per quarter that goes into the moderator rewards pool, as well as the minimum amount of DGDs the moderators need to lock in

For more details about DigixDAO governance and the moderators’ roles, refer to this document

2. Timeline and rules

We will take the month of July to make sure that DGD holders become aware of the opportunity to make their first important decision for DigixDAO.

The voting phase is from 1st August 2018 8:00UTC to 1st September 2018 8:00UTC. 1st September 2018 8:00 UTC will be the Decision Point . There will be a dedicated web page with step-by-step instructions for the voting that will be released in the coming weeks.

. There will be a dedicated web page with step-by-step instructions for the voting that will be released in the coming weeks. Each vote consists of a number from 0.0% to 5.0% for the moderator rewards pool, and a number from 0 to 1000 for the minimum amount of DGDs required for a moderator.

Each Ethereum address can vote and change their vote anytime during the voting phase. Only the last vote counts.

The votes will be weighted accordingly to the DGD balance in the voter’s address at the “decision point” . This means that voters can transfer DGDs in and out of their voting address freely during the voting phase, but the balance that will ultimately count towards their vote is the balance at 1st September 2018 8:00UTC

. This means that voters can transfer DGDs in and out of their voting address freely during the voting phase, but the balance that will ultimately count towards their vote is the balance at 1st September 2018 8:00UTC Hence, a voter can also vote with an Ethereum address with 0 DGD, and only transfer his DGDs into the address before 1st September 2018 8:00UTC

The result for each of the two parameters will be an aggregate of everyone’s votes, weighted by each voter’s DGD balance on 1st September 2018 8:00UTC

The sum of all voters’ DGD balance must exceed 300000 DGDs for the vote to be considered valid.

Example:

2nd August: address A has 100 DGDs in his wallet, votes (1, 300)

3rd August: address B has 0 DGDs in his wallet, votes (4.5, 500)

15th August: address A transfers 60DGDs out of his wallet

16th August: address B re-votes (4.1, 600)

30th August: address B transfers 200DGDs into his wallet

Final balance and votes of each addresses:

Address A: voted for (1, 300) with a balance of 40DGDs

Address B: voted for (4.1, 600) with a balance of 200DGDs

Final result for the two parameters:

Moderator rewards pool: (1*40 + 4.1*200) / 240 = 3.6% (rounded to 1 decimal place)

Minimum DGDs required for a moderator: (300 * 40 + 600 * 200) / 240 = 550 DGDs