Greetings, Kwenta Community!
Welcome to the heart of decentralized decision-making! The Kwenta Council is a pivotal part of our DAO (Decentralized Autonomous Organization), responsible for guiding the direction of Kwenta through informed decision-making and community engagement. The council is elected by $KWENTA token holders, ensuring that those at the helm are chosen by the community, for the community.
What are the Council Elections?
The Kwenta Council is the body which guides the direction of the Kwenta DAO through informed decision-making and engagement. The council is elected by $KWENTA token holders, ensuring that those at the helm are chosen by the community, for the community. Through regular elections, token holders can decide the direction of Kwenta.
The Kwenta Council
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Representation: The Kwenta Council is a token-holder elected body, representing the voice of the Kwenta community, chosen through first-past-the-post (FPTP) voting using staked $KWENTA tokens.
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Composition: It consists of 5 members, each serving a term of 4 months.
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Responsibilities: Prospective council members should be available for weekly meetings and regular KIP presentations. Council members must vote regularly on KIPs, and are encouraged to make proposals, engage in discussions with the community, and work closely with core contributors.
Election Timeline
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Nomination Period: November 15th, 12:00 AM UTC to November 21st, 11:59 PM UTC.
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Election Period: November 22nd, 12:00 AM UTC to November 28th, 11:59 PM UTC.
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Council Transition: Scheduled for December 4th.
Election Rules: Participation and Victory
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Who Can Run: Community members, traders, stakers, and perps enthusiasts meeting the eligibility requirements are encouraged to run. Make sure you’ve been a member of the Discord for over 3 months, with a Discord account over 6 months old.
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Who can Vote: Wallets staking $KWENTA in Staking v2 will be eligible to place 1 vote for each staked $KWENTA, including both liquid and escrow $KWENTA.
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Winning Criteria: The top 5 nominees with the most votes in $KWENTA will be elected to the council.
How to Participate
Community participation is one of the most important elements of a DAO, and a critical component of building Kwenta. Community members are encouraged to participate, whether by running, voting as stakers, or simply participating in governance discussions.
How to Run
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Eligibility Check: Ensure you have a Discord account older than 6 months and have been part of the Kwenta Discord for over 3 months.
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Nominate Yourself: Post your nomination in the #council-nominations channel on our Discord. Your nomination should include a brief introduction and a governance pitch, along with your ETH address.
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Engage with the Community: Active participation in Discord discussions can bolster your candidacy. Each epoch, Kwenta hosts a roundtable discussion of council candidates before the close of the election period.
How to Vote
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Stake Your $KWENTA: Make sure your $KWENTA tokens are staked in Staking v2. Here’s how to migrate.
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Vote: Each $KWENTA token equals one vote. Cast your votes on the Kwenta Snapshot page during the election period.
Note: The Kwenta Council election is not yet live on Snapshot, but you can see recent KIPs, past elections, and be ready to vote!
Stay Informed and Engaged
Your participation in these elections shapes the future of Kwenta. We encourage every member of our community to stay informed, engage in discussions, and exercise their right to vote. Together, we are not just building a platform; we are shaping the future of decentralized finance.
Happy nominating and voting!
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