Propchain DAO
Everything about PropchainDAO that powers the Propchain Foundation.
Overview
The Propchain Ecosystem has now transitioned towards a fully decentralized community-powered protocol that is governed by members. Through protocol governance, members can propose and vote on changes to any aspect of the protocol. These decisions directly determine the Propchain's future operations and success. We envision Propchain to become a fully decentralized Protocol dedicated to digitally empowering the global real estate value chain.
PropchainDAO plays a crucial role in supporting the Foundation's decision-making processes, focusing on:
The Utility Token
Ecosystem development
Treasury Management
Partnerships
Grants
Global Changes
DBM to PropchainDAO Migration
We have moved from the Digital Board Member Program to introducing PropchainDAO on 8th March 2024 (Tweet link).
As per the above DAO membership requirements, most DBM Members are eligible to become PropchainDAO Members. We are happy to announce the successful transition of many of our DBM Members to PropchainDAO Members.
How is the Propchain Ecosystem structured?
To understand PropchainDAO, it is important to understand how the Ecosystem is structurally operated.
The Propchain Ecosystem consists of 2 Modules.
Both Modules work hand in hand to combine what is proposed in the best interest of the ecosystem to what is feasible for the ecosystem to develop.
The Propchain Governance Module
Responsible for decentralized decisions and controlling of the ecosystem.
The Governance Module consists of:
Propchain Foundation
PropchainDAO
The Propchain Utility Module
Responsible for creating utility and revenue for the ecosystem.
The Utility Module consists of:
Prop.com
Propchain Cloud
Propchain Ventures |
PropchainDAO Membership
Anyone can become a member of the PropchainDAO by attaining ONE OR MORE of the following below:.
Early PROPC Investor (Pre-sale or Private Rounds)
PROPC Stakers (mins xyz)
Investor in One of our Properties
vePROPC holders (Voters)
PropchainDAO Members Value System
Protocol Commitment/Loyalty - share enthusiasm and trust
Kaizen - continuously improve operations and processes
Sustainability - Optimize protocol
PropchainDAO member get exclusive access to the Telegram Group, where members can contribute and receive various benefits and updates.
Governance Process
Governance is the core of decentralization's driving force. Propchain's core governance model utilizes a token-based voting system to involve its community in key decision-making processes. This governance model ensures that every decision reflects the collective will of the PropchainDAO community, promoting a transparent and inclusive approach to ecosystem development. Here we outline how the process:
Voting Process
PropchainDAO utilizes a simple Voting system based on the existing staking mechanism. This not only supplies more utility to our staking mechanism, but also provides better opportunities for rewards in the future. Additionally, this ensures that stakers are now more committed towards the Propchain Ecosystem.
Step 1: Stake $PROPC
Before proceeding to engage in any governance activities, users have to first Stake their $PROPC tokens through the official Propchain dApp.
Detailed instructions will be available soon.
Step 2: Discussion Forum
Before proceeding to vote, each discussion must ensure that it is highly likely that a change will pass the voting. For PropchainDAO members, it starts with the exclusive 'PropchainDAO Telegram group'. After discussion within a Forum post, a particular proposal will find its way for selection to proceed with the voting process.
Detailed instructions on how to use the Discussion Forum will be available soon.
Step 3: Voting on Snapshot
After getting a rough consensus about a topic, a proposal will be created on Snapshot where one may connect their wallet they staked with, and receive a Voting Power. Through the Voting Powers, users will be able to vote on Proposal.
Voting Power
An important factor to consider decentralization and transparency within decision making is to understand your Voting Power. In PropchainDAO, the Voting Power is decided purely based on the Amount Staked and the Staking Pool (or Duration) chosen.
What is Voting Power?
Voting Power is the quotient that lets Snapshot determines how much weight a user's vote carries in governance proposals.
PropchainDAO has a special formula to calculate the Voting Power:
According to this formula,
Users who have staked in the Long Term Pool have a higher Voting Power as compared to the Mid or Short term pools.
Alternatively, users who prefer to stake PROPC in the short term pool can also enjoy higher Voting Powers, by staking significant amounts of PROPC.
An example;
User A who stakes 1000 PROPC in the short term pool will receive 250 Voting Power. (1000 * 0.5/2). Where 0.5 is Short Term pool duration of 6 months or half a year, and 2 is the maximum number of years anyone can stake for.
On the other hand, User B who stakes 1000 PROPC in the long term pool will receive 1000 Voting Power. (1000 * 2/2). Where 2 is Long Term pool duration of 2 years, and 2 is the maximum number of years anyone can stake for.
We can conclude that User B has a higher Voting Power and can contribute significantly higher towards their favored choices within Proposal.
Special Scenarios:
If user who have staked in multiple pools through different Staking events, Voting Powers for each one will calculated and added together.
Also, it does not matter how far your Staked duration has been completed, as long as the Staking event is valid on your Staking Wallet, the voting powers will be emitted accordingly.
With this enhanced Staking mechanism, user commitment is priority and we recommend every user to Stake with smartly and responsibly.
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