Voting

Voting is conducted on Snapshot. Votes can be initiated either by council members, or by token holders with at least 5% MGVs held/delegated. The following groups each represent one third of the total voting power in general governance:

• MGV Token Holders: Their voting weight is proportional to the number of held or vested tokens compared to the total circulating supply of MGVs.

• Builders Group: The voting power of Builders is based on an activity score reflecting their period of contribution and full-time engagement. Quadratic voting is applied to balance voting power discrepancies within the group.

• Pods Group: Comprising teams of strategists and developers, Pods initially have equal voting influence. Eventually, their voting power will be proportional to the economic value they generate for the protocol.

Key voting parameters

• Proposals must be posted in the proposals category of the Mangrove DAO forum at least 5 days before voting on Snapshot.

• The voting duration should be a minimum of 5 days, include one weekend day, and not exceed 7 days.

• A quorum of 5% is required, calculated based on thrice the circulating supply of MGV tokens to equally empower Builders and Pods alongside MGV holders.

• Delegation is available to voters in every group.