Eximchain Governance(3/3)- Governance Cycles

Eximchain
Eximchain
Apr 23 · 3 min read

In preparation for the upcoming governance cycle, we would like to refresh our community on Quadratic Voting, Becoming a Candidate, and Governance Cycles in a three part series. In this article we will do a quick overview on Governance Cycles.

Like other governance mechanisms, there is a flow and stages to each cycle. In short a Governance cycle can be open or closed. Depending on the cycle stage, network members have access to different functions of our governance contract.

Cycle Stages

When a cycle is open, voting can start and will continue past the minimum cycle time until a cycle is closed.

The minimum length of a cycle is 30.4375 days. After this time has elapsed from the opening of the cycle, any member can close the voting cycle.

When a voting cycle is closed all votes are tallied immediately. The demotion candidate with the highest net votes is removed as a blockmaker (will now be a regular member) and the promotion candidate with the highest net votes will take their place as the new blockmaker. After a cycle is closed, all members that participated in that cycle can claim their tokens as part of token redistribution.

Be sure to claim your tokens as soon as possible as it will take one week for those tokens to be deposited into the wallet you used to vote.

New Cycle

All nominating and voting will reopen for the network following the same cycle time minimum as before. Be sure to complete token redistribution as soon as possible to be able to use those tokens in the next round of governance.

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Eximchain

Eximchain enables supply chain companies to connect, transact, and share information more efficiently using blockchain technology. Learn more: www.eximchain.com

Eximchain

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Eximchain

Eximchain enables supply chain companies to connect, transact, and share information more efficiently using blockchain technology. Learn more: www.eximchain.com

Eximchain

Eximchain

Eximchain enables supply chain companies to connect, transact, and share information more efficiently using blockchain technology. Learn more: www.eximchain.com