4-7. governance
Aurora klay DAO
[outline] Prevent the owner’s arbitrary execution and moral hazard, It aims to continuously develop the aurora klay ecosystem through active participation in the ecosystem, such as giving opinions and exercising voting rights by users through autonomous organizations.
✅ Voting Power (vARA) Acquisition Conditions: ARA staking or 3D #aurory NFTs are automatically paid, and if the acquisition conditions are lost, they are automatically collected and incinerated.
✅ How to get voting rights: 🔹ARA token single staking: vARA earned at a 1-to-1 ratio 🔹New 3D_auroraklay membership NFT_#Aurory: 1,000vARA per 1 NFT ✅Agenda Registration: 🔹Eligibility for agenda registration_Wallet holding more than 100,000 vARA 🔹Agenda registration fee_Paid 500,000 ARA 🔹Collected ARA Tokens: Go to buyback wallet 0x0D943d39D77e654F163D0b74BB886911Aa0d863e
✅How to proceed with voting: 🔹Agenda registration: Users wishing to propose an agenda to the auroraklay governance system must hold 100,000 vARA. 🔹When registering an agenda, 500,000 ARA tokens must be paid. 🔹Description: Register in English within 500 characters. 🔹It is once per wallet, and items that have already been registered cannot be canceled. 🔹Announcement: Notice for one week after the agenda registration is complete_Guide you to participate in voting through Medium, Twitter, Telegram, etc. 🔹Voting process: 3 days (72 hours) Holders of vARA wallets can vote for or against the agenda. 🔹Users can exercise voting rights as much as the amount of vARA held in their wallet, and voting is conducted without limit for vARA per wallet. 🔹1st Approval: Voting results are recognized if more than 0.4% of the total issuance (snapshot) on the vARA scope at the time of voting is participated in the vote. 🔹Rejection: If less than 0.4% of the final issued vARA participates, it will be invalid regardless of the voting result.
🔹Final Voting Result: Only for the first round of voting, for/against results must be more than 50% of the total number of votes participated. 🔹The time applied to governance follows the KST standard (UTC+9:00). 🔹Governance voting results are kept on record in the auroraklay DAO, and for voting results, the project must notify the answers and results within one month.
✅ Voting Power (vARA) Rights: 🔹Opinions of various users are reflected in voting, which can serve as an opportunity to upgrade the operation of the ecosystem. 🔹vARA does not prove or guarantee stake other than granting the right to exercise voting rights by autonomous organizations in the auroraklay ecosystem.
✅Other Information_Important 🔹 ARA single staking: 6,307,200 ARA will be airdropped across a single pool over 5 years. 🔹 You can airdrop ARA tokens and acquire vARA when you maintain ARA single staking. When un_staking, vARA is destroyed, and there is no ARA mining reward. 🔹 Exchange 5 old general NFTs for 1 new NFT. ✔Exchange_can be exchanged by charging general NFT ✔General NFT charging cost is 50klay per piece. ✔Rare NFT owners can exchange new NFTs at the exchange_without fees. 🔹 ARA staking & voting power (vARA) does not apply to general NFTs. 🔹 When moving or trading between 3D Auroraklay membership NFTs (new NFTs) wallets: vARA Moves along with the acquired quantity_ vARA may change when NFT is burned or changed to higher level. 🔹VARA related to NFT staking rewards: There is no change in the amount of vARA obtained even after the end of the airdrop (ARA airdrop for 3 years).
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