(16) Join the TPRO DAO! (Click And Check How It Works):
GM, Web3 Adopters! 🌐
Two weeks ago, we announced the launch of the $TPRO DAO (check more details here).
Now we have ready principles of the voting power, snapshot details and the whole DAO concept.
In this article, we will show you:
- how to join the $TPRO DAO,
- how we calculate the voting power,
- and how to use Snapshot.org.
Scroll down and get the details:
What Can You Do To Join The DAO?
There are two paths:
First one: if you are already staking $TPRO, we automatically assign you to the DAO. The only thing you should do is visit snapshot.org/#/tpro.eth and click “join” on the left.
Second: if you are not staking, go to tokenomia.pro/invest and read the lightpaper to ensure you understand the basic staking mechanisms. When you are done with that, go to the $TPRO token panel, connect the wallet, check the staking levels, and allocate $TPRO in the chosen tier. Then, as in the first example, visit snapshot.org/#/tpro.eth and join the DAO.
When you go to the Snapshot.org, you will see a couple of test proposals — we just had to make sure everything is working properly.
Now, let’s jump into explaining what means what:
From the bottom of the page:
- Results: what’s the current ratio between different answers in the particular moment.
- Snapshot: when the snapshot of the voting power and wallets eligible for voting was taken. When we create the proposal, the snapshot is taken on a particular block, and nobody can up its voting power for that specific proposal. It’s calculated based on the historical data.
- Start Date / End Date: the timeframe between which you can vote (after closing the proposal, there is no longer a possibility to vote on that particular proposal, even if you are a DAO member)
- Voting system: the method of voting chosen by the DAO (i.e. single choice voting)
(One more thing: when you join the DAO, make sure the $TPRO logo appears on the left, so you can get notifications about the newest proposals to vote)
“Ok Sirs, but How Do You Calculate The Voting Power?
We got you. Here are what the assumptions look like:
- First, we take the number of tokens you are staking (let’s say 1 000 000 $TPRO).
- Then, we multiply it by the staking factor (every staking level has an own factor — LVL 2: 0,03125 / LVL3: 0,0625 / LVL4: 0,125 / LVL5: 0,25 / LVL6: 1).
- Next, we multiply the outcome by the number of months till the end of the staking lock.
- At the end, we raise the number of months till the lock end to the power of 2 (to reward the investors that decided to stake $TPRO for a longer period).
It may sound complicated. We know. So let’s take an example:
- You have 1 000 000 $TPRO tokens.
- You chose the staking LVL4 (which means your staking factor is around 0,125).
- You locked your tokens for 3 months on a listing day (03.08.2022, so 2 months left till the end of the lock).
- At the end, we raise the number of months till the lock end to the power of 2 (to reward the investors that decided to stake $TPRO for a longer period).
Here’s how it looks like: 1 000 000 * 0,125 * 2 ^ 2 = 250 000 ^ 2 = 125 000 * 4 = 500 000 $TPRO. That’s your voting power.
Key takeaway: the longer you lock your tokens, the bigger your voting power is.
However, through time, the closer you are to the end of the lock, the lower your voting power is. To be more specific: it decreases as time flows.
We introduced such a mechanism so new people won’t be afraid of $TPRO whales because your voting power in the DAO is the highest at the beginning.
PS. If you have tokens on different staking levels, we will also calculate them.
Bottom Line
Thanks for your time! If you are a $TPRO hodler, don’t forget to join the DAO!
And subscribe to the youtube channel not to miss our educational content, so you would be smarter about crypto.
See you next time!
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