(9) DMEX DAO Governance Voting Instructions

How to join DAO and vote

DMEX Platform DAO Governance Voting Instructions

I. Obtain Governance Token MVT

All platform token DMC holders are encouraged to join the DAO Boardroom Staking Pools. There are three staking options, 30 days, 180 days, and 365 days lock position. Participants will obtain the governance token MVT at a 1:1 ratio to their staked DMC. MVT can be used for the DMEX platform DAO committee election and community DAO governance proposal voting.

II. DAO Committee Elections

(1) Candidacy

All platform token DMC holders are encouraged to run for the election. Nevertheless, the eligible candidate needs to have at least 100,000 MVT before they can submit their names, campaign descriptions, and campaign logos to participate in the election. Candidates' 100,000 MVT will be automatically voted on themselves upon participation.

(2) Committee Members

The initial number of committee members currently set by the platform is 7. After 3 days of a referendum election, the top 7 candidates will be upgraded as the committee members. Committee members can participate in DMEX platform governance decisions and participate in the multi-signature co-management of platform funds. Committee members can also enjoy an annual dividend from platform operation profits. More detailed dividends rules will be decided by community referendum after the first DAO committee member election is successful.

(3) Cast Your Vote

All MVTs holders are entitled to participate in voting on the DAO election page. Users can earn a 1% APY DMC reward for all voted/invested MVTs. Users are free to withdraw their voted/invested MVTs at any time.

(4) Withdraw From the Election

Candidates can withdraw at any time after participating in the election. Candidates' initial locked MVTs will be automatically returned upon their withdrawal. Voters need to manually withdraw their locked MVTs if the candidate they supported back out of the election.

(5) Committee Member Withdrawal and Replacement

The committee election process on the DMEX platform is an ongoing process. When a new candidate receives enough votes that to put himself/herself in the top 7 rankings for 7 consecutive days, the eligible candidate can replace an existing committee member by community proposal voting (the new eligible candidate can only replace existing committee members with fewer votes).

III. DAO Proposal

(1) Proposal Initiation

Every DMC holder can initiate a DAO proposal by staking 10,000 DMC as the deposit and submit a proposal title and proposal details. When submitting your proposal, please refrain from submitting information that is irrelevant to the DMEX platform, such as advertising, politically sensitive content, and malicious slander, etc. If the submission is irrelevant to DMEX, the platform reserves the right to transfer the DMC deposit of the ineffective proposal to the blackhole address for destruction.

(2) Proposal review

To avoid malicious proposals that are irrelevant to DMEX platform governance, the platform will conduct a preliminary review of all community proposals. If the review result is successful, the proposals will be publicly displayed on the DAO governance page in our dapp.

(3) Proposal Referendum

During the proposal referendum period, all governance token MVT holders will be able to participate in the voting. The final voting results will be compared with the standardized proposal approval criteria to determine whether the proposal can be approved. Voters will be able to retrieve their MVT and claim their 1% APY voting income after the proposal results are finalized.

(4) Proposal Rewards

Every user who successfully initiated an eligible proposal will be rewarded with a contribution incentive of 500 DMC when their proposal is approved. All voters will receive a 1% APY DMC bonus based on the number of MVTs they voted/invested.

IV. Proposal Execution

If the proposal successfully passed the community referendum, the DAO committee will supervise the implementation procedures by the DMEX dev team. When it comes to the use of platform fundings, or modification of important platform revenue parameters, etc., the proposal will need to be verified by the committee members by multi-sig confirmations and smart contracts.