Participating in Governance
Participating in Governance
This page explains how to actively participate in Zeitgeist's decentralized governance system, empowering you to shape the future of the platform.
Acquiring TIME Tokens: Where and How to Buy
To participate in governance, you need to hold TIME tokens.
Initial Sale: TIME tokens are available through vAMM and the constant product AMM on Zeitgeist platform.
Exchanges: After the initial sale, TIME tokens may be listed on centralized and decentralized exchanges (CEXs and DEXs). The Zeitgeist team will announce any listings on official channels.
Liquidity Provision: You can also earn TIME tokens by providing liquidity to Zeitgeist's prediction narratives (through the OSSR system).
(Specific instructions and links for purchasing TIME tokens will be added as they become available.)
Staking TIME Tokens (Currently Not Required, Potentially Optional in Future)
Currently, staking TIME tokens is not required to participate in governance voting. You can vote directly with the TIME tokens held in your connected Solana wallet.
However, Zeitgeist may introduce a staking requirement in the future to:
Increase Voter Commitment: Staking encourages long-term engagement and discourages short-term speculation.
Enable Additional Rewards: Staked TIME tokens might earn additional rewards (separate from OSSR).
Enhance Security: Staking can make it more difficult for attackers to manipulate the governance system.
If staking is introduced, this section will be updated with detailed, step-by-step instructions.
Submitting Proposals: How to Propose Changes to the Platform
As a TIME token holder, you have the right to propose changes to the Zeitgeist platform. This is a powerful way to contribute to the platform's evolution and ensure it meets the community's needs.
Drafting a Proposal:
Clearly Define the Proposed Change: What exactly are you proposing to change? Be specific and unambiguous.
Provide a Rationale: Explain why you believe this change is necessary or beneficial for the Zeitgeist platform. Provide evidence, data, or arguments to support your reasoning.
Specify the Technical Details (if applicable): If the proposal involves a change to the smart contracts or platform parameters, include the specific technical details (e.g., the new parameter values, the code changes).
Consider Potential Impacts: Think about the potential positive and negative impacts of your proposal on different stakeholders (users, LPs, the platform itself).
Solicit Community Feedback: Before submitting a formal proposal, it's highly recommended to discuss your ideas in the Zeitgeist community forums (Discord, Telegram, etc.) to gather feedback and refine your proposal.
Using the Governance Interface (Realms):
Zeitgeist uses a combination of Realms and Squads (Solana governance tools) to manage its governance process.
Realms: A Realms is like organization. It is used for on-chain governance, enabling TIME token holders to vote on proposals.
Squads: A Squads is multi-sig wallet, also on chain. It acts like a safe that requires multiple members (signers) to approve transactions. This is used for managing the platform's treasury and executing certain governance actions.
The specific governance interface will be accessible through the Zeitgeist platform (e.g., a "Governance" or "DAO" tab).
(Screenshot: Show the Zeitgeist governance interface (Realms integration).)
Submitting the Proposal:
Connect your Solana wallet to the governance interface.
Click the "Create Proposal" or similar button.
Paste your proposal text (from Step 1) into the appropriate field.
Provide any required technical details (if applicable).
Confirm the submission and approve the transaction in your wallet.
You will need to hold at least 10,000 TIME tokens to submit a proposal.
Proposal Requirements: Format and Content
To ensure clarity and facilitate discussion, proposals should follow a standard format:
Title: A concise and descriptive title that summarizes the proposal.
Summary: A brief overview of the proposed change (1-2 sentences).
Motivation: Explain the problem or opportunity that the proposal addresses. Why is this change needed?
Proposed Solution: Describe the proposed change in detail. Be specific and unambiguous.
Technical Details (if applicable): Provide any necessary technical specifications, code changes, or parameter adjustments.
Potential Impacts: Discuss the potential positive and negative impacts of the proposal.
Alternatives Considered: If there are alternative solutions, explain why you chose the proposed solution over the alternatives.
Voting Options: Specify the voting options (e.g., YES/NO, or multiple choice).
Voting Timeline
Community Discussion Link: Link to the related discussions.
(Example Proposal Template): Provide a template that users can copy and paste.
The 10,000 TIME Threshold: Ensuring Serious Proposals
To submit a governance proposal, you must hold at least 10,000 TIME tokens. This threshold is in place to:
Prevent Spam: Discourage frivolous or spam proposals.
Ensure Commitment: Ensure that proposers have a significant stake in the platform.
Prioritize Serious Proposals: Focus governance attention on proposals that have the backing of substantial token holders.
Voting on Proposals: Exercising Your Governance Rights
Once a proposal is submitted, TIME token holders can vote on it.
Access the Governance Interface (Realms): Connect your Solana wallet to the Zeitgeist governance interface.
Browse Active Proposals: View the list of active proposals that are currently open for voting.
Review Proposal Details: Carefully read the full text of the proposal, including the motivation, proposed solution, and potential impacts.
Cast Your Vote:
Select the proposal you want to vote on.
Choose your voting option (e.g., YES, NO, Abstain).
Confirm your vote and approve the transaction in your wallet.
(Screenshot: Show the voting interface on Realms.)
Voting Mechanisms: Direct Voting and Quadratic Voting
Zeitgeist uses a hybrid voting system:
Direct Voting (1 TIME = 1 Vote): For most proposals, your voting power is directly proportional to the number of TIME tokens you hold. Each token you hold grants you one vote.
Quadratic Voting: For certain sensitive decisions (e.g., fee adjustments, AI agent parameters), Zeitgeist may use quadratic voting.
How it Works: In quadratic voting, the cost of votes increases quadratically. For example:
1 vote might cost 1 TIME.
2 votes might cost 4 TIME.
3 votes might cost 9 TIME.
And so on...
Rationale: Quadratic voting makes it more expensive for large token holders ("whales") to dominate the vote. It gives smaller token holders a relatively stronger voice.
Understanding Voting Power: 1 TIME = 1 Vote (or Quadratic Equivalent)
Your voting power determines how much influence you have on the outcome of a vote.
Direct Voting: Your voting power is simply the number of TIME tokens you hold.
Quadratic Voting: Your voting power is determined by the quadratic cost function (as explained above). You can choose how many votes to cast, and the interface will show you the corresponding cost in TIME tokens.
Quorum Requirements: Ensuring Sufficient Participation (5% of Circulating Supply)
For a vote to be considered valid, a minimum percentage of the TIME token circulating supply must participate. This is called the quorum.
Zeitgeist's Quorum: At least 5% of the circulating TIME supply must participate in a vote.
Rationale: The quorum requirement prevents a small group of users from making decisions that affect the entire platform. It ensures that there's sufficient community participation to legitimize the outcome.
If Quorum is Not Met: If the quorum is not met, the proposal fails, regardless of the number of YES or NO votes.
Voting Periods: 7 Days (Standard), 14 Days (Major Changes)
Each proposal has a defined voting period:
Standard Proposals: Most proposals have a voting period of 7 days.
Major Changes: Proposals that involve significant changes to the platform's core parameters or functionality (e.g., modifying the tokenomics, overhauling the fee structure, adding new AI agents) may have a longer voting period of 14 days.
Using Realms and Squads for On-Chain Governance:
Realms: Zeitgeist uses Realms (a Solana program) to manage the on-chain governance process. Realms provides tools for:
Creating and managing proposals.
Casting votes.
Tracking voting results.
Enforcing governance decisions (through smart contract interactions).
How to Vote Using Realms * Connect the wallet to Realm. * Create the proposal. * Vote the proposal.
Squads: Zeitgeist uses Squads (a Solana multi-sig wallet) for:
Treasury Management: Holding and managing the platform's treasury funds.
Executing Certain Governance Actions: Some governance actions (e.g., transferring funds, upgrading smart contracts) may require approval from the Squads multi-sig. This adds an extra layer of security and prevents any single individual from controlling the platform's assets.
Squads multisig
Explain how to vote
Explain different level of approvals.
Who will be responsible.
Explain how proposals be executed.
(Diagram: Show a diagram illustrating the interaction between Realms, Squads, and the Zeitgeist smart contracts.)
Tracking Proposals and Voting Results:
You can track the status of proposals and view voting results on the Zeitgeist governance interface (Realms). The interface will typically show:
Active Proposals: Proposals that are currently open for voting.
Past Proposals: Proposals that have been voted on (passed or failed).
Voting Progress: For active proposals, the current vote tally (YES/NO votes), the percentage of the quorum reached, and the time remaining in the voting period.
Proposal Details: The full text of each proposal.
Voting History: A record of all votes cast (anonymized to protect user privacy).
By actively participating in Zeitgeist's governance system, you can help shape the future of the platform and ensure its long-term success.
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