Governance

Introduction

Zoracles governance is very simple. Proposals are made and voted on by the token holders. A passed proposal is then implemented.

Zoracles voting is directly proportional. 1 ZORA = 1 vote. 0.1 ZORA = 0.1 votes. 200 ZORA = 200 votes.

Currently, you need 100 ZORA to create a proposal. This ensures the system is not overrun with useless or malicious proposals. If you do not have 100 ZORA, contact someone who does to see if they are interested in sponsoring your proposal. As with most crypto on-chain governance systems (Compound, AAVE, etc), enforcement is limited to the functionality expressed in the contracts under governance. Therefore, our platform will initially be limited to proposals regarding ZORA smart contracts currently under governance which will generally be: upgradeability, token supply, timelocks, and general features of Zoracles governance.

Who Can and Cannot Vote

Time-locked Team Wallets (3 x 1,000 ZORA) The time-locked wallets represent the founding developers. These wallets can vote. We understand that these wallets account for a significant amount of the vote. The core developers should be on board with most changes. Token voting was accomplished by using a snapshot.

Strategic Fund (1,300 ZORA) This account cannot vote. Only if the funds are dispersed to a legally voting party can these tokens be voted with.

Developer Fund (~300 ZORA) These accounts cannot vote. Only if the funds are dispersed to a legally voting party can these tokens be voted with.

Uniswap Liquidity Fund (200 ZORA) These accounts cannot vote. Only if the funds are dispersed to a legally voting party can these tokens be voted with.

Considering the votes from the governance and development accounts are restricted, the total amount of votes on any given proposal is approximately 8,000 votes. With the core developers holding approximately 37.5% of the votes (at this time).

Governance Portal (ZORA 3.0)

The governance portal can be found at gov.zoracles.com. The Zoracles governance portal UI/UX is in beta and is currently being tested and updated. It will be available with ZORA 3.0 or before when the team can finish it. Currently, users can only interact with the contract directly. If you’d like to create a proposal, please see the ZORA 2.5 guide below.

Instructions for Creating a Proposal (ZORA 2.5)

Under Construction (Video)

Instructions for Voting (ZORA 2.5)

Under Construction (Video)