This professional proposal outlines the implementation of a voting protocol for our token holders using Non-Fungible Tokens (NFTs). The primary aim is to empower the community with decision-making capabilities by assigning voting rights based on NFT ownership, ensuring fairness and decentralized governance.
We propose adopting an NFT-based voting system where each NFT owned by a token holder grants one voting right. This system ensures that governance decisions reflect the collective voice of the community and encourages active participation in critical organizational decisions.
Voting Rights: Each NFT represents one vote. Voting power is non-transferable without transferring the NFT.
Proposal Creation: Any holder with a minimum of one NFT can propose a vote. Proposals can include but are not limited to treasury management, protocol upgrades, and strategic partnerships.
Quorum Requirements: A proposal will only be considered valid if at least 10% of the total NFTs in circulation participate.
Voting Period: The voting period will last for seven days from the start of each proposal.
Passing Criteria: A proposal will pass if it receives a majority of 50% +1 votes in favor based on participating NFTs.
This proposal seeks to create a fair and inclusive voting protocol using NFTs, reinforcing our commitment to decentralized governance.
This proposal outlines the development of a floating rate staking reward smart contract designed to provide sustainable token rewards for NFT holders who stake their NFTs.
Sustainable reward distribution based on transaction volume.
Fair allocation among NFT stakers.
Floating rate reward structure.
Reserve buffer for sustainability.
Encourage long-term participation.
The staking rewards will be derived from the 1% transaction fee collected from daily GCC token trades.
Total NFTs Staked: 100
Daily GCC Volume: 1000 GCC
Transaction Fee: 1% (10 GCC)
Reserve Buffer: 20% (2 GCC)
Net Daily Rewards Pool: 8 GCC
Hourly Reward Pool: 0.3333 GCC
Staking Mechanism: Users can stake their NFTs to earn rewards.
Floating Rate Distribution: Rewards based on daily transaction volume.
Reserve Buffer Management: A portion of the rewards reserved for sustainability.
Claiming Rewards: Users can claim rewards anytime.
Key security features will include:
Using OpenZeppelin libraries for security.
Reentrancy protection mechanisms.
Pause function for emergencies.
This proposal aims to create a fair and sustainable floating rate staking reward system for GCC token holders, balancing reward distribution with market performance.