EMDX token holders have real political power over the decentralized entity and its code, with the ability to vote on proposals about protocol strategic actions, like listing products, fee structures, rebates, staking rewards, community building / marketing programs and so on.

Governance Venues

  • EMDX Forum -
    Created to welcome all the long-term discussions that will shape the future of the EMDX protocol. Community members must log in with their Discord accounts. Users can submit their proposals for discussion and get a consensus for voting.
  • EMDX Snapshot - EMDX Snapshot - Token holders can vote on any proposal that has passed the CMS (Check Motion Support) and has reached consensus on moving forward with the governance process.
  • Governance Discord Channel - Anyone who is a member of the EMDX Discord server can keep track of the forum proposals and keep in touch with the EMDX members in order to create Snapshot voting proposals once the CMS is approved.

Types of proposals

  1. 1.
    New Market/Asset Listings
  2. 2.
    General Protocol Proposals: · Protocol Improvements · Community · Rewards

Governance Process

The main goal is to achieve transparency, accountability, and agreement. To accomplish this, we designed a governance workflow that will guide the transmission of proposals, consensus checks, and high-traction proposals.
We outlined a preliminary draft that explains how the EMDX governance process will work for all proposals, from concept inception and definition to actual implementation. Keep in mind these processes are subject to modification based on feedback from the EMDX community.

1. Proposal submitting (EMDX Forum)

To create a proposal, users can use the provided templates pinned to the top of the Proposal forum section, which should contain all relevant information about the potential subject of a vote. A proposal should at the very least include:
  • A short and concise title
  • A tl;dr description
  • The rationale for the proposal, e.g. why?
  • A poll being done on the forum for members to vote as a CMS (see below) before proceeding with the governance process.
The proposal should be submitted as a forum post on the “Proposal” section

2. Check for Motion Support [CMS] (Discussion: EMDX Forum)

After a proposal is created on the forum, its status is set to CMS. During this time, users can debate, chat, and improve the proposal.
The proposal title must be changed to [CMS].
The proposal will be set for a 2 to 5-day period, after which one of two things can happen:
  • If the proposal receives minimal of quorum (to be set forth), it will advance to the next stage, being marked as MGV (Motion granted for voting)
  • If there's no quorum, the proposal will be marked as MD (Motion Denied). Take note that any proposal failing to reach quorum must begin again at the submitting stage if another vote is desired.

3. Motion Granted for Voting [MGV] (Resubmit: EMDX Forum)

Once the proposal has been approved on the CMS stage, the author must submit all new information gathered during the discussion period (in the same forum post) to detail the full proposal, and it is now ready for voting by token holders on Snapshot.
The proposal title must be changed to [MGV].
Get in touch with the EMDX Team via the Governance Discord Channel to activate the Snapshot voting and obtain the voting link to include in the forum proposal.

4. Voting (Snapshot)

At this stage, the proposal has been accepted by the Community and is available for voting on Snapshot for $aEMDX token holders. Users must connect their wallets and have at least one aEMDX token to vote.
Once a new 2 to 5-day period has passed, the voting period will be closed. If the MGV reaches the minimum voting percentage (TBA) it will be timely executed by the core Team.
Voting systems on Snapshot may differ depending on the type of proposal.

5. Implementation (EMDX Core Team)

Once the voting cycle is completed, users will be informed of the EMDX protocol’s implementations. Keep in mind that implementation time may vary depending on the magnitude of the proposal.
Note: Please keep in mind that this Governance System is a preliminary draft that may change based on the community and token holders feedback. Every new update will be shared as a public announcement.