Trading within the protocol owned liquidity pools will collect 50% trading fees for users that vote within DAO supported proposals. Trading fees will be converted to $TEC and sent to the DAO fund for governance administration. Fees collected will be distributed shortly after the conclusion of each proposal. In order for a TEC Viva Dao proposal to qualify for distribution, the proposal must meet quorum requirements.
1 $TEC = 1 voting power
In order to vote, users require a voting power of 600 $TEC
Submitting proposals require a voting power of 3000 $TEC
Only protocols submitted by the TEC Viva DAO are eligible for distributions
The TEC VIva Dao dashboard can be accessed at this address: TBA
If you wish to gain protocol or community support for your proposal, you may submit a draft within the Discord governance channel. The submission of proposals require a voting power of 3000 $TEC. These votes are non-binding. If quorum and support is achieved, the proposal will be automatically upgraded to a TEC Viva DAO proposal and resubmitted for voting with distributions.
Link to Discord thread discussion.
Summary (rationale, timeline, goals, risks, effects)
End time of a proposal should not be longer than 30 days from its starting time.
Proposals that do no comply to this format will be removed.
There are three types of votes.
Parameter votes which can modify pool parameters. The votes require a 10% quorum with 30% support.
Protocol votes which can control most functionality within the protocol. These votes require a 15% quorum with 51% support.
DAO votes which can control the release of additional circulating supply from the reserve, new protocol liquidity pools, and special interest DAO fund distributions. These votes require a 20% quorum with 51% support.
Quorum = total voting power of the circulating supply (Current circulating supply is 200,000 $TEC)
0x30A0Bb8F3e6AB88c08852E92e60f710a67417C8f