Governance

Governance is a process where decision-making takes place, including decision-making on rules, future development, and tokenomics of the launched game within the ecosystem. The community can usually use the token-based voting system to participate in the governance process. Governance and community participation are critical factors that determine the success and sustainability of Web3 game ecosystems. By providing rights for players to participate in the development of the game, the ecosystem can develop innovation, transparency, and a strong community spirit. MUDOL2 Ecosystem v2’s governance allows a decentralized community composed of ecosystem members to participate in various decision-making regarding the ecosystem. Through this system we will maximize the ecosystem participation experience, and plan to evolve to make the MUDOL2 ecosystem have a truly decentralized community (DAO, Decentralized Autonomous Organization) in the long run.

◆ Governance Topics

Decision-making on MUDOL2 ecosystem games’ rules, changes in future development plans, and tokenomics will take place.

◆ Governance process

Governance Voting Preparation The governance can be participated with vMUDOL, obtained from staking $MUDOL2. Moreover, players can choose between Manual Voting, where players can vote for themselves, or Delegate Voting, where players can hand their voting rights to a third party. To vote, you must complete Setup Voting once. In the first proposal voting, only Manual Voting will be available, and the Delegate Voting feature will be available in upcoming proposals.

Governance Vote Participation Process [Proposal Registration]

Proposals are added to the governance vote proposals by the operators. The minimum amount of votes required for the proposal vote participation is equal to 10% of the total vMUDOL amount at the time the proposal is registered, and the voting process will take place for 7 days total, going through a 3-day preparation period and a 4-day voting period. [Preparation Period]

After the Governance proposal is registered, there will be a 3-day preparation period. You will have Voting Power equal to the number of vMUDOL you own at the block when the vote starts. Although you can vote and exert your influence with the vMUDOL you obtained staking throughout the preparation period, you cannot use the vMUDOL obtained after the vote starts. [Vote Process]

There will be a 4-day long vote process after the vote begins. You can participate in the vote according to the number of vMUDOL you own at the start of the vote. You can vote once per wallet for each proposal, and your decisions can not be changed once you have finished voting. For example, if you own 10 vMUDOL when voting for [A], 10 votes will be voted to [A]. [Proposal Approval]

If the proposal exceeds the minimum number of votes required throughout the voting period, the proposal with the most amount of votes will be approved. However, if the amount of votes for the proposal does not exceed the minimum number of votes, that proposal will be canceled. For example, if 1 person casts 10 votes for [A], and 2 people cast 3 votes each for [B], [A] will be approved. Furthermore, proposals held identically in both BSC and Kaia must both be passed in each chain for the proposal to be finally passed.