WHIP 7: Voting

[chiumichael]

• Authors: Mark Ballandies
• Start Date: 2023-10-03
• Category: Governance
• Tracking Issue: WHIP 6: Tokenomics #7

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Summary

Following the mechanisms outlined in onocoy's whitepaper, WHIP-0006 outlines the principles of WiHi's voting mechanism, where token holders can anonymously delegate tokens to identified delegates who can vote on proposals that can be initiated by all community members. Initially, a supermajority (>66%) is needed for decision-making, with future exploration of alternative voting methods to prevent the "Tyranny of the Majority." This approach aims to attract motivated community members by showcasing their participation in governance. The rationale emphasizes inclusivity, autonomous improvement, and prevention of power concentration. Identifying delegates is essential to prevent fraud and maintain transparency, but minimal criteria will encourage broad participation. Anonymous delegation ensures wide engagement, preserving privacy, and allowing all community members to propose votes. Detailed specifications will follow in future WHIPs.

Link to WHIP:

https://github.com/wihi-labs/WHIP/blob/main/0007-voting/main.md