DAO
Last updated
Last updated
Redemption believes in decentralization. Its governance (decision-making body) is a DAO (Decentralized Autonomous Organization) control structure consisting of token holders. The redemption token acts as a Governance token that gives voting rights to its holders.
The voting power of each token holder is directly proportional to the number of tokens possessed by that holder. So the more tokens you possess, the more voting power you have.
Redemption has a dedicated forum where users can express their opinions, suggestions, and ideas for the betterment of the project.
You need to have at least 100,000 tokens to be eligible for creating new proposals. But you have a voting right even if you possess 1 token.
Note: Some proposals for suggested changes may be subject to a technical/legal feasibility study before the actual implementation of such changes.
Let us understand how Redemption DAO works.
Click on “DAO” on top bar.
Once landed on the page, you can launch the app by clicking on “Launch App” in the top right corner of the screen.
Then click on “Governance”.
If it’s your first time landing on this screen, you will have to click on "Self Delegates" to verify the number of tokens that you own. It will be used to calculate the weightage of your vote. It will also result in a small amount of Gas Fee. In case where you have more than one wallet, you will be repeating the same process with each one.
After confirmation and clicking “Governance”, the following page will appear on your screen.
If there are any pending proposals, they will pop up on your screen. If there’s none, then you will find “No Proposals Found” on your screen.
Below the message, there is a box named "past proposals". It shows you the DAO proposals that have been implemented.
