[Learn XPLA] Governance, Proposal, Voting

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XPLA Ecosystem

4 min readJan 20, 2023

Dear Pilots, it’s the Explore & Play XPLA here!
Let’s take a deep dive into our Governance, Proposal, Voting through this post.

📃Learn about XPLA

The three essential components of the XPLA Ecosystem. Our unique style of Governance, Proposal, and Voting🔍.

[1] What‘s Governance?

“Governance” in Blockchain means the democratic process of managing and decision-making to cause changes in the blockchain network. You can submit, vote, and implement proposals in XPLA Chain, which inherits from Cosmos SDK’s governance module.

[2] What’s Proposal?

“Proposal” suggests that anyone involved in the ecosystem can participate in determining the Governance’s direction.

Users can vote on a proposal after a minimum deposit of 300 XPLA* is reached. To help push a proposal forward to a vote, deposit* XPLA to the Proposal.

📌 According to the proposal at https://vault.xpla.io/proposal/51, the minimum deposit required to make a proposal has been changed from the original 10 XPLA to 300 XPLA.

📌Deposits will not be refunded for proposals rejected with a veto, do not meet quorum, or fail to reach the minimum deposit during the deposit period. Non-refunded deposits are burned.

📌Deposits protect against unnecessary proposals and spam.

[3] What’s Voting?

A registered proposal can be voted by using $XPLA. Voting process involves using $XPLA. $XPLA must be staked to vote.

✔1. How to participate in Voting

① You must Stake $XPLA in advance.
- To cast a vote, you must stake your assets on the XPLA Vault during the Voting Period.

- Through Staking, you can Delegate your assets to Validator.
📌You can read more about Staking in this article.

② After Staking, you can participate in Voting on the Governance tab.
- When the Voting is in progress, it will be published on XPLA Vault’s [Voting] tab. If you want to vote, click the Proposal and the Vote button to express your opinion.

✔2. Your vote can be expressed in three ways

Validators can cast a vote to express their opinion, and holders can delegate $XPLA to the Validator to participate in the vote indirectly or directly. If a Delegator does not cast a vote with their staked XPLA, their vote defaults to the vote cast by the Validator their XPLA is staked to. Delegators can override a Validator’s vote at any time during the voting period by voting with their staked XPLA.

① Your voting rights could be expressed through Validators.
- If you delegate your assets to Validator, your assets contribute to Validator’s Voting Power. Because of this procedure, even though you didn’t cast a vote, you will automatically express your voting rights through the Validator’s position.

② You can directly cast a vote even though you Delegated it to Validator.
- You can directly cast a vote if your Validator doesn’t do so or takes a different stance.

- This case retains the delegation status, but your shares from the Validator’s Voting Power are excluded.

③ Delegating to multiple Validators is available. But if your Validator has a different position from yours, you can also have the option to Redelegate to a Validator that supports your position.
- You can change delegation to the Validator, who has the same position as you, by Redelegating.

📌In essence, if you Undelegate, you must wait 21 days before applying; during the Redelegation process, however, there is no waiting period of 21 days.

✔3. Voting period

If the minimum deposit has been reached before the end of the deposit period, then the Proposal goes into a one-week (7 days, 168 hours) voting period. While the Proposal is in Voting, holders of staked XPLA can cast votes.

✔4. Voting options

The 4 voting options available are:

ⓐ Yes: in favor.
ⓑ No: not in favor.
ⓒ No With Veto: not in favor, and the depositor of the Proposal should lose their deposit.
ⓓ Abstain: neither for or against. An abstain vote counts toward meeting the quorum but does not count toward the threshold.

📌 Delegators can vote using their staked XPLA. One staked XPLA equals one vote. (Voting is done by holders of XPLA on a 1 XPLA = 1 vote basis.)

✔5. Passing Requirements

The Validators and Holders decide whether to pass or reject a Proposal. To pass a Proposal, the conditions listed below must be met.

A minimum of 33.4% of the total amount of stakes needs to participate in the Voting process. At least 50% of participants need to vote Yes. There should not be more than 33.4% of NoWithVeto votes at the end of the Voting process. (Public criteria for XPLA mainnet)
XPLA Governance is under the rule of the Tendermint-based consensus algorithm. The standard for the vote was established when the mainnet was created, and a detailed algorithm is described in the XPLA Dev Docs

✔6. Voting Results

The results will be determined immediately after the Voting closes.

Join the XPLA Ecosystem. Vote, make a Proposal, join the XPLA Governance process!

XPLA will create a transparent and equitable ecosystem. With XPLA on the journey of Web3, there is always an opportunity for you to create your own story.

Discover endless possibilities with XPLA.

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