At Biswap, we believe in the power of collective decision-making, where every voice contributes to the bright canvas of our project’s future. Voting 2.0 is about improving the way we interact with our community. Join us to dive deeper into the nuances of this new functionality, explore its benefits, new features, and the key to active participation — vBSW.
Welcome to the new era of Biswap, where your impact matters more than ever before:
https://biswap.org/votings
The Goal of Voting Upgrade
Today we are excited to introduce a leap forward in our voting system — the Community Voting 2.0. This transformational release not only establishes a more direct connection between our community and the Biswap team but also puts more influence over the Biswap ecosystem in the hands of its most valuable members — users.
Benefits of Voting Upgrade
The key benefits of Voting 2.0 are to empower our community with:
- Possibility to create own votings;
- Influence on the development of Biswap;
- Convenient voting functionality.
Thus every BSW holder, who has vBSW, becomes an integral part of our shared mission: advancing the Biswap ecosystem. Through this upgrade, we aim to create a platform where the entire community actively participates in shaping the future of Biswap.
What’s New?
The voting upgrade introduces exciting features, allowing users to vote on proposals and actively participate by creating their own. But first, let’s figure out the features of Voting 2.0. A small glossary of votings’ features will help us with this. Why are votings in the plural? Because there will be two kinds of votings — community and core votings. Let’s look at them one by one.
Features of Community Voting
- Proposal
A proposal is an appeal to the Biswap team and community. Proposals are stored in the Voting tab of the official Biswap website and Biswap Snapshot. If the proposal’s author violates the voting rules, the moderator can delete the proposal at any time. - Proposal Validation
A user must have at least 70 000 vBSW to create a proposal. This rule exists to minimize the amount of spam and voting violations. - Quorum
In order for a vote to be considered successful, it must reach a quorum of 1 500 000 vBSW who have voted for any given proposal. If the sum of all votes is equal to or greater than the quorum value, the quorum is met. The purpose of a quorum is to ensure that only those proposals deemed successful have adequate voter participation. - Voting
Users can vote for or against individual proposals. A vote can only be cast if the proposal is in the “Vote Now” state. - Result
A Community Voting can be considered successful if a quorum is reached and more than 50% of the votes are cast for one of the options. A completed Community Voting is a temperature check, so its content is not binding. Community Votings are used to propose ideas and show the community’s point of view. The Biswap team reviews each successfully completed Community Voting and may select the best ideas for future product releases and/or Core Voting. The ideas must align with Biswap’s vision and mission, and have a positive and sustainable impact on the development of the project in the industry.
Anyone can participate in discussions, but only holders with a vBSW can vote on proposals. For a comprehensive guide on these features and detailed instructions on proposal creation, check out our guide here:
https://blog.biswap.org/article/how-to-create-a-voting-proposal
Biswap Voting 2.0 has a limit on the number of proposals created on a daily and monthly basis:
- Daily proposal limit 20;
- Monthly proposal limit 100.
Features of Core Voting
- Proposal
A proposal is an appeal from the Biswap team to the community. Proposals are stored in the Voting tab of the official Biswap website and Biswap Snapshot. - Quorum
In order for a vote to be considered successful, it must reach a quorum of 1 500 000 vBSW who have voted for any option. If the sum of all votes is equal to or greater than the quorum value, the quorum is met. The purpose of a quorum is to ensure that only those proposals considered successful have adequate voter participation. - Voting
Users can vote for or against voting proposals. A vote can only be cast if the proposal is in the “Vote Now” state.
vBSW — Key for Voting Participation
To actively participate in Voting 2.0, users need vBSW — points of voting power. Getting a vBSW is easy: you can get it by staking your BSW tokens to the BSW Investment Pool or the BSW Classic Pool. This was done to ensure participants were interested in the project’s success. BSW holders must enter into a staking agreement to receive vBSW points, making Voting 2.0 truly a reflection of the engaged Biswap community.
Quorum for Justice & Honesty
Upholding the principles of justice and honesty in decision-making, Voting 2.0 introduces a quorum requirement. This ensures that a minimum percentage of the total vBSW supply must participate in a vote for it to be considered valid, safeguarding against manipulation and guaranteeing genuine community engagement. In other words, if the sum of all votes is equal to or greater than the quorum value, the quorum is met.
Community Rules and Guidelines
To ensure a respectful, secure, and legally compliant environment within our Community Votings, we have established the following rules that all members are expected to adhere to. Violation of these rules may result in consequences, including but not limited to removal proposals.
- All voting and communication must be in English. The use of languages other than English is strictly prohibited. All votes written in other than English will be deleted.
- When you create a vote, you must comply with the following requirements:
- The question should refer exclusively to the activities of Biswap.
- The question should be formulated, without the use of offensive and slang words.
- The question cannot offend anyone, including Biswap, its employees, and its managers.
- The question cannot relate to the topics of politics, religion, racial topics, and national minorities. - When discussing, commenting or writing questions, it is prohibited to:
- Making statements that may incite community members to manipulate the price of any asset;
- Spread of havoc, fear, uncertainty, and doubt (FUD), or any unfounded/offensive statements about the platform and its administrators;
- Racism, bullying, and harassment in any form;
- Sharing advertisements, dangerous links, or engaging in spam activities;
- Posting illegal content, including but not limited to begging, obscene language, offensive remarks against the Biswap team or project, pornogra
- Disseminate false information or engage in the spread of fake news and misinformation;
- Take other actions that may violate the rights of other community members. - Prohibited to seeking sellers or buyers for any cryptocurrency or NFTs is not allowed within the community.
- Posting malicious links is STRICTLY prohibited.
- The duration of your voting proposal should be up to 7 days, if you create a voting for a longer period, we will be forced to delete it.
- You confirm your understanding that violation of these Terms is grounds for removal of your votes, comments, or submissions and grounds for suspension of your account.
- These Terms are mandatory for all Biswap Voting users.
- Biswap reserves the right to change at any time. Biswap reserves the right to change these Terms without any notice. By using the Biswap Survey, you automatically agree to these Terms and undertake to comply with them.
- The Biswap Voting is regulated by these Terms and General Biswap`s Terms and Conditions.
Please note, failure to follow the voting rules will result in your voting proposal being deleted without warning.
We appreciate the cooperation of all community members in abiding by these rules, which promote a positive and constructive atmosphere within the Biswap Community Votings. Remember that adherence to these rules is essential to the well-being and success of our Community Votings.
Conclusion
The creation of Voting 2.0 underscores our commitment to providing the community with a convenient and fast means of communication. All BSW holders, who have vBSW, now work cohesively toward the common goal of developing and expanding the Biswap ecosystem.
Voting Upgrade 2.0 marks a significant stride towards a more dynamic, inclusive, and community-centric governance model. We invite each and every one of you to actively participate in this new chapter, as we collectively shape the future of Biswap.
Stay tuned for more updates, and let the voting begin!
