Presentation of what is plan for the new xGov’s version.
A. Becoming an xGov Member
-
Requirements: To participate in the xGov, operate an Algorand node involved in consensus processes. There is no minimum Algo stake requirement.
-
Voting Rights: Each block proposed by your node will accord you one xGov vote
-
Membership Rotation: A new cohort of xGov members will be selected periodically based on activity during a specific timeframe. Membership eligibility assessments will occur via snapshots taken every 1 million blocks, with 1 million blocks currently approximating one month.
B. KYC Requirement
Proposal submitters will now need to meet a KYC requirement. This change, established from pilot phase feedback, limits the number of active proposals to one per KYC-verified individual or entity at any time to ensure focused completion of proposals.
C. Voting Mechanism
| Category | Requested Amount (ALGO) | Discussion time (at least) | Voting time (after discussion) |
|---|---|---|---|
| Small | 10k ≤ A < 50k | 1 week | 1 week |
| Medium | 50k ≤ A < 250k | 2 weeks | 2 weeks |
| Big | A ≥ 250k | 3 weeks | 3 weeks |
| Democratic Quorum | 10% | 15% | 20% |
| Weighted Quorum | 20% | 30% | 40% |
Feel free to share your thoughts if you have any questions/comments.