How to Vote on the ZIGChain Tokenomics Proposal

We recently unveiled a tokenomics proposal designed to fuel ecosystem growth, enhance decentralization, and reward the community. We believe this is the correct path forward to ensure the long-term success of ZIGChain and create huge value for all stakeholders in our ecosystem.

The decision on whether to implement this proposal ultimately lies in the hands of the ZIGDAO community. Voting is a crucial part of decentralized governance, and every $ZIG holder now has the opportunity to approve or reject this proposal through a democratic process.

For this vote, we’re using SnapShot — a secure platform that lets all $ZIG holders participate without paying gas fees. It’s easy to use and verifies that every vote is legitimate, making this a fair and transparent process for the entire ZIGDAO community.

In the following sections, we’ll guide you through the voting process, explain eligibility criteria, and provide all the information you need to participate in this pivotal decision.

Executive Summary

• Voting is open to all $ZIG token holders from July 5–12, 2024
• A snapshot of token balances in ERC-20 wallets will be taken on July 5, 2024, at 5:00 PM UTC
• Voting will take place on Snapshot.org for gasless, verifiable votes
• Voting power corresponds to the total $ZIG token balance at the snapshot time
• Any $ZIG moved on-chain after the voting inception will not be eligible to vote

Who Is Eligible to Vote

Anyone holding $ZIG tokens in an ERC-20 wallet on Friday, July 5, 2024, at 5:00 PM UTC is eligible to vote. This means the snapshot of $ZIG token balances will be taken at that time, and only those who hold tokens on-chain will be eligible to vote.

If you currently hold your $ZIG tokens on a centralized exchange, you must transfer them to a personal ERC-20 wallet before the snapshot. We recommend initiating this transfer well in advance to ensure it’s confirmed on the blockchain before the cut-off time.

Your voting power is directly proportional to the number of $ZIG tokens in your wallet at the snapshot time.

There are no gas fees or other charges associated with voting on SnapShot, so don’t worry about your $ZIG balance being affected during the voting process.

How to Vote on SnapShot

Let’s take a look at the step-by-step process for voting on SnapShot.

Step 1: Access the Voting Page

Simply head to Snapshot.org and search for “ZIGChain” to find our community. Our first proposal, “The Next Generation of ZIG Tokenomics,” should be front and center. Alternatively, just click here to jump straight to our proposals page.

Step 2: Connect Your Wallet

On the voting page, click the ‘Connect wallet’ button in the top right corner. Select the wallet where you held $ZIG tokens at the snapshot time, and then follow the prompts to authorize the connection. Don’t worry — this process is secure and won’t incur gas fees.

Step 3: Dive into the Details

Before voting, take the time to review the proposal details carefully. We’ve provided a comprehensive overview of the proposed tokenomics changes, including how the token supply adjustment empowers the ZIGChain Foundation and increases value accrual for the community.

Your informed decision is crucial to ZIGChain’s future. We’re running a series of AMAs (Ask Me Anything sessions) to address your questions and concerns. Join these sessions, engage in our community channels, and seek clarification on any points you find unclear.

Step 4: Cast Your Vote

Ready to make your voice heard? Here’s how:

1. Choose your preferred option from the available choices
2. Click the ‘Vote’ button to confirm your selection
3. Your wallet will prompt you to sign a message — this acts as your secure digital signature
4. After signing, you’ll see a confirmation message indicating your vote has been recorded

Remember, your vote is final once submitted, so ensure you’re confident in your choice before signing.

Step 5: Timing is Everything

The voting period runs from the 5th of July 2024 to the 12th of July 2024, giving everyone in the ZIGDAO community ample time to participate. You can check the ongoing results on SnapShot at any time, and we’ll announce the final outcome on our official channels within 24 hours of the voting period closing.

Shaping ZIGChain’s Future Together

Your participation in this vote is more than just a decision on tokenomics — it’s a pivotal moment in ZIGChain’s journey. By casting your vote, you’re actively shaping the future of our ecosystem and contributing to our mission of decentralizing wealth generation for the masses.

We encourage you to review the proposal carefully, participate in our AMAs, and engage with fellow community members in our discussion channels. Your informed decision is crucial to the health and future of our ecosystem.

This vote not only shapes our immediate future but also sets a precedent for collaborative decision-making in the ZIGDAO community. Thank you for your active participation and ongoing support as we continue to build and innovate together.