DAO Voting: Complete User Guide

Introduction to DAOs on Film.io

What is a DAO?

  • A DAO (Decentralized Autonomous Organization) is an organization governed by its members, operating on blockchain technology without a central authority. Film.io's DAO system democratizes decision-making, empowering users to directly shape the platform's future.

Understanding FAN Tokens

Voting Power of FAN Tokens:

  • In the DAO voting process, FAN Tokens are essential. Each token represents one vote, giving weight to your voice in proportion to your token holdings.

Participating in DAO Proposals

Voting Process:

  • Check the DAO section on Film.io for active proposals.

  • Review each proposal's implications.

  • Cast your vote on each proposal. Your total FAN Tokens determine the weight of your vote.

Majority Rule:

  • A proposal requires at least 51% of approval votes to be adopted before the proposal window closes.

Proposal Voting Mechanics

Time-Bound Nature:

  • Proposals are open for voting within a set time frame, ensuring efficient and timely decision-making.

Single Choice Voting:

  • Proposals are voted on with a straightforward 'yes' or 'no' option, facilitating clear and decisive outcomes.

Impact of Your Vote:

  • Every vote is significant, contributing to the collective decision and promoting a community-driven approach.

Key Updates on Voting Mechanics

Cost-Free Voting and Token Retention:

  • Participating in voting is free and does not lead to any reduction in your FAN Tokens. Your tokens remain entirely in your wallet, ensuring your voting power is not diminished by participating in the DAO.

Token-Based Influence:

  • Each FAN Token you own translates into one vote, allowing you to vote with the full weight of your tokens without any transfer or lock-up.

Additional Considerations

Transparency in Voting:

  • Film.io is committed to maintaining transparency throughout the voting process, ensuring clear communication regarding proposals and their outcomes.

Community Engagement:

  • Members are encouraged to engage with us on Discord for a comprehensive understanding of proposals, fostering an informed and collaborative decision-making environment.

Conclusion: Your Role in Film.io's DAO

  • Your active participation in DAO voting is more than just influencing decisions; it's about being an integral part of a pioneering movement in the film and TV industry. Film.io is dedicated to a user-centric model, where every voice is valued, and every vote plays a crucial role in shaping the platform's future.

Last updated