By Alex Kampa, George Samman
In the Fantom ecosystem, there will be several types of voting, depending on the situation and what needs to be voted on.
More information can be found here: https://github.com/Fantom-foundation/FIPs/blob/master/FIPS/fip-3.pdf
Proposals for emergency changes can be decided by the Technical Committee with a simple majority, with a quorum of 50%.
Emergencies — Veto
The Assembly will be able to veto any emergency decision via a majority vote organised by the Moderators immediately after a positive Emergency vote by the Technical Committee.
A veto can be obtained with a simple majority, subject to a quorum of 10% of voting power.
6.1.3 Veto of Assembly Decision
Decisions by the Assembly that have an impact on software and will therefore potentially incur expenses can be vetoed by the Review Board. Such a veto can be obtained by simple majority, with a quorum of 50%.
In most cases, on-chain voting on the Fantom network will be done using the Resistance Count method described.
When Moderators organise indicative votes, to get initial feedback from the community and to weed out spurious proposals, a simple 3-choice vote can be used on a wide variety of options:
0 = No objections
1 = Neutral / Don’t know
2 = I’m against it
Every voter votes on every option. For every option, the (weighted) sum of choices represents the resistance count, and the with the lowest resistance count being the most likely to be adopted.
These options that emerged from the indicative voting process can then be subject to another debate. Finally, a consensus vote can take place with a more fine-grained resistance measurement with the following options .
0 = Agree strongly, no objections at all
1 = Agree — almost no objections
2 = Agree somewhat — minor objections
3 = Neutral, or don’t know
4 = Some resistance
5 = strongly object
6 = Very strong resistance
The quality of the decisions will also be measured. Because we need to avoid polarisation, we will need to accept veto power of a minority when it comes to important decisions. We should not have decisions when there is a sizeable minority that very strongly objects.
A veto will be successful if the average score of all participants is greater than or equal to 3.
Therefore, a score of 1 or 2 is needed to pass a resolution. This means that, on average, token-holders must agree to the proposal with few objections, meaning that a minority of token holders would likely be able to increase the score above 2.
Voting participation will be a factor in calculating ”Proof of Importance”, which impacts the overall number of rewards earned by the validating node and its delegators. Therefore, validators and delegators will be incentivised to participate in on-chain governance.
The exact parameters concerning veto power remain to be decided.