IOST On-Chain Governance Mechanism now Available
With the implementation of a new IOST On-Chain Governance Mechanism which started on July 1 as stated in this article | IOST July Update. Two proposals have now been made and are online subject to vote by elected node. The On-Chain governance mechanism was implemented with the aim of promoting more decentralization in the governance and healthy growth of the IOST ecosystem.
The first proposal online is by xpet which focuses on 2D RPG games.
While the 2nd proposal is made by IOSTABC to improve and allow voters to vote for other nodes directly without waiting for a 3-day frozen period to change their vote.
All elected nodes are qualified to one vote per proposal and if more than 50% of the elected partner nodes agree to a proposal, that proposal will enter the voting process; otherwise, it will be withdrawn.
To read more about the On-Chain Governance Mechanism Click here>>
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