Wall Street Games is now governed entirely by WSG token holders via voting escrow.
Time Weighted Voting
Time-weighted voting is used to provide long-term WSG token holders greater governance weight and control of the protocol.
The unit of the governance voting power is ssWSG. It is received by staking locked WSG tokens and is non-transferable. The ssWSG balance decays linearly as the remaining time until the staked or locked WSG unlock decreases.
Launch Auction and Team & Investor Weighting
Launch Auction and Team & Investor WSG tokens receive ssWSG equal to the weighted-average duration of their token lockup. This normalizes these ssWSG balances with the voting escrow model.
Changes to the WSG protocol must go through the Community Forum with a proposal. Proposals can be discussed in the Forum to gain sentiment and are classified as "Core" and "Other".
Core proposals are suggested by the WSG Foundation. The minimum for the vote to pass is 20,000,000,000,000 ssWSG.
Other proposals include all changes to the WSG protocol suggested by the community. The minimum for the vote to pass is 20,000,000,000,000 ssWSG.
The voting process is designed to drive discussion for all proposals, which are then effectuated upon community approval and voting. Proposals must adhere to the below governance process.
- Proposal Stage All WSG Token holders are eligible to submit non-binding proposals, which may result in a governance vote by holders of ssWSG voting power.
- Voting Proposals with a positive poll sentiment can be submitted to Snapshot by any holder of 250000000000 ssWSG, or from Admin wallets on Snapshot. Core and Other proposals have voting periods ranging between 24 hours & 120 hours.
When voting on a proposal, a WSG holder's voting power equals the holder's ssWSG balance at the blocktime the proposal was submitted. As such, any ssWSG acquired after the submission of a proposal cannot be used to vote on the proposal.
The WSG Foundation is dedicated to supporting the growth, development, and sustainability of the protocol. Their efforts will include:
- Community-led initiatives
- Partnerships with other DeFi & crypto organisations
- Marketing & communication initiatives