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xGov Beta Architecture

xGovs vote MUST BE either “Approve”, “Reject”, “Null”, or “Boycott”.

xGovs MAY abstain from voting.

xGovs SHALL vote once per Proposal: the allocation of “Approve”, “Reject”, and “Null” votes MUST be simultaneous.

Vote usage MAY be partial. Unused votes are default “Null”.

Vote is a “Boycott” when:

• The number of “Approve” votes equals the xGov voting power, and
• The number of “Reject” votes equals the xGov voting power.

Vote is invalid and rejected by the xGov Registry if:

• The sum of “Approve”, “Reject”, and “Null” votes is not equal to the xGov voting power, and
• The vote is not a “Boycott”.

Vote SHALL NOT be modified.

Tip

Pooled Vote Example: Let’s have an xGov Staking Pool with N votes. The Pool SHOULD collect poolers’ opinions before expressing the Pool vote accordingly. Once the Pool is ready to vote, the allocation of N votes among “Approve”, “Reject”, or “Null” is simultaneous and can no longer be modified.

Vote MUST BE sent either by the xGov Address or the Voting Address.

The Voter Box MUST be deleted after the vote.

The xGov absence tolerance MUST be reset.

A Submitted Proposal is Approved if and only if all the following conditions hold:

• A democratic quorum of all xGov Committee (one xGov, one vote) is reached. “Null” votes affect this quorum. “Boycott” votes do not affect this quorum.

• A weighted quorum of all xGov Committee voting power is reached. “Null” votes affect this quorum. “Boycott” votes do not affect this quorum.

• The relative majority of “Approve” over “Reject” votes is reached. “Null” votes do not affect the relative majority. “Boycott” votes do not affect the relative majority.

And it is Rejected otherwise.

The Commitment Lock MUST be returned to the Proposer if the Proposal is Rejected.

The xGov Daemon SHALL delete Voter Boxes of absentees xGovs.

All (absentee) Voter Box MUST be deleted before the Council reviews the Proposal.

The absence tolerance of the absentee xGov MUST be decremented by one.

The xGov Council MUST review Approved Proposals.

The xGov Council MAY apply a veto to an Approved Proposal.

An Approved Proposal is considered either:

• Blocked, if the veto is applied;

• Reviewed, if the veto is not applied.

In case of a Blocked Proposal:

• The requested amount MUST NOT be paid.

• The Commitment Lock MUST be transferred (slashed) from the Proposal Escrow to the xGov Treasury.

In case of a Reviewed Proposal:

• The Commitment Lock MUST be returned from the Proposal Escrow to the Proposer.