Governance

Governance for major decisions in the ecosystem will go through an on-chain, direct-election governance vote where UMAREUM holders directly decide the direction the ecosystem takes.

Where are the governance vote proposals?

All governance vote proposals are stored on Github: https://github.com/Umareum-project/UIP.

Before a governance vote passes, they're called Umareum Improvement Proposals, or UIP. It is a public repository and anyone can create a pull request to submit a proposal. Please make sure that proposals are well-articulated and well-researched, so that the Umareum community is able to make an informed decision during the governance vote.

Once these proposals make it to the governance vote, they'll also appear on snapshot.org (see below).

Where to vote?

Umareum governance vote UI: https://snapshot.org/#/Umareum.eth

The development team has integrated Umareum's mainnet with snapshot.org, which is an open-source platform that facilitates on-chain voting for over 29k web3 projects.

What's the voting system?

The development team is bound by the outcome of the vote, and will implement whatever the outcome of the governance vote is.

The development team will adhere to a First Past the Post (FPTP) voting system, which means plurality wins. In most cases there will be just a yes / no response, so plurality would mean majority in these cases. FPTP is the oldest and most common form of voting system, typically used during direct elections, which is what Umareum's current governance system uses.

In direct elections, the concept of quorum also does not apply. Quorum is a concept applicable to deliberative assemblies, or a body filled with representatives that were directly elected to their seats. Therefore there are no quorum considerations.

Which wallets can vote?

All wallets on the Umareum network is able to vote.

UMAREUM stored on exchanges cannot be counted in voting. If your UMAREUM are on an exchange but wish to vote, you could pull the tokens out of an exchange into a wallet and participate in voting. You just need to make sure that the transfer occurs before the vote's snapshot cutoff (see below).

How are votes counted?

A wallet's vote counts 2 components,

• Wallet's UMAREUM balance

• Wallet's staked UMAREUM balance

If you have 1 UMAREUM in your wallet, and you have 99 UMAREUM staked, then your total voting weight is 1 + 99 = 100.

How to vote?

Please follow our step by step tutorial on how to use snapshot.org to vote.