dForce Launch Governance Venue on Snapshot

Today, we are pleased to launch our governance venue on Snapshot. Snapshot.Page already becomes the status-quo venue for DeFi projects to coordinate their off-chain governance and signaling, it is more efficient to consolidate our governance decision making, communication and discussion on a few selective venues. DF token holders can use the platform to propose and vote on changes to all protocols across dForce network. In parallel, all governance related discussions will be held on our Forum.

Previous proposals and votes can still be reviewed from dForce governance system:

· DIP001 — Remove DAI from USDx reserve

· DIP002 — Integrate Yield Enhancing Protocol with USDx protocol

· DIP003 — Adjust USDx weighting to 80% USDC, 10% PAX, 10% TUSD

Starting from DIP004 (vote opens from 12:00 UTC+8, 31 October), we will be using Snapshot to facilitate governance decisions. DF token holders can participate in dForce governance in a more distributed manner, for example, use Snapshot to create proposals and vote through https://snapshot.page/#/dforce

Voting Mechanism

Voting period: Each governance poll shall last 3 days.

Quorum requirement: at least 1% of total DF tokens at the end of the voting period need to have participated in the voting.

Threshold requirement: at least 50% of DF tokens participated are in favor of the proposal, or it is deemed rejected. You will have to resubmit your proposal if needed.

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· Twitter: https://twitter.com/dforcenet

· Telegram: https://t.me/dforcenet