In line with our Roadmap, we are pleased to let the community know that Phantasma Voting is coming. This underpins our efforts for Phantasma to be a decentralized blockchain and ecosystem run by and for the Phantasma community.
Phantasma Voting is not just the vote itself but comprises of the steps leading up to a vote, the actual vote itself and ultimately implementing the outcome of the vote.
This means that we will now start the following process:
A Request For Voting Suggestions (RFVS) announcement will be put out to the Phantasma Community via our Phantasma Chain Telegram channel. Anyone can respond to this request by suggesting topics relating to Phantasma to vote on. This RFVS will remain open for two weeks to give the community ample time to come up with suggestions.
A formal vote will be held, using Phantasma Voting, to determine which of the suggestions will be chosen to vote on. To be able to vote, community members must have a wallet with staked SOUL. These community members are automatically members of the Phantasma Stakers DAO which will ultimately govern Phantasma. This is in line with our Whitepaper where SOUL is mentioned as the Phantasma Governance token. The amount of staked SOUL can be as little as 1 SOUL. However, the voting power of a wallet with 1 SOUL will obviously be less than a wallet with more staked SOUL and also the amount of time SOUL has been staked plays a role in the voting power. More on this topic can be found in our Whitepaper on pages 9 and 10.
The winning topic will be handed over to the Phantasma Community Managers who can be found on our website. The Community Managers are in daily contact with and are closest to our community. The Community Managers will formulate the voting question of the chosen topic, the potential answers and what type of majority is required for the vote outcome to be binding.
Once the voting question and the answers have been formulated, the next step is campaigning, where proponents and opponents will be given the opportunity to influence the community’s opinion.
In parallel with the previous step, voting education will provide potential voters with information on how to be eligible to vote and everything in relation to the actual voting process.
Voting will be held using Phantasma Voting.
Once the Voting has been closed, the outcome will be published and will be implemented.
We consider Phantasma Voting a major step towards true decentralization.