Voting Round

Casting Votes for Progress: The Voting Round

What is the Voting Round?

The Voting Round is the second phase of the platform's governance cycle and is an integral part of the decision-making process.

In this round, Satellites cast their votes on the proposed changes and upgrades put forth in the successful proposal from the Proposal Round.

Satellites have three options for casting their vote: 'YAY' to approve, 'NAY' to disapprove, or 'PASS' to abstain.

Importantly, Satellites are not bound to their initial decision and may alter their votes anytime before the Voting Round concludes.

In the spirit of full transparency, all Satellite votes are publicly visible, ensuring their decisions are open for review by their delegators.

Community Discourse and Deliberation

Satellites and delegates are urged to engage in active discussions about the proposed changes.

These conversations are essential in evaluating the potential implications of the proposal, understanding its benefits and drawbacks, and determining how it could shape Maven Finance's future trajectory if implemented.

Criteria for Success

For a proposal to advance to the next stage, it needs to meet the following requirements:

1. It must reach the quorum, set as a percentage of the total staked MVN supply (initially fixed at 67%).

2. It must accumulate a sufficient number of 'YAY' votes, calculated as a percentage of the quorum staked MVN total (initially fixed at 51%)

3. 'YAY' votes must outnumber 'NAY' votes

Outcomes of the Voting Round

If the proposal manages to rally the requisite votes, the governance cycle moves on to the Timelock Round. This final stage involves comprehensive reviews and checks before the proposal is integrated into Maven Finance smart contract based ecosystem.

However, if the proposal fails to amass the required votes, the governance cycle resets, and a fresh Proposal Round begins. This ensures the ecosystem consistently reflects the will of its community.

Importance of the Voting Round

The Voting Round is an essential phase that defines the democratic nature of the governance system.

It underlines Maven Finance's dedication to shared decision-making, ensuring that the platform's evolution is guided by the collective wisdom of its community.

As the crux of the governance cycle, this round serves as the forum where proposals are evaluated and the community's preferred path for Maven Finance's future is chosen.