Ray Dex will be a community governed protocol, such as a DAO. $RDX is a governance token that will allow holders to vote on community proposals.
Community proposals will be submitted to our discord or telegram, where members can discuss its merits and clarify questions. Proposals may be brought up for voting by core team members, if they gain sufficient traction.
More details will be announced when we launch the platform. Voting Proposals will be voted on, with $RDX VOTE to decide the outcome.
$RDX VOTE is determined by;
- Each RDX in the RDX-PLS pool is worth 2 $RDX VOTE
- Each RDX held via sRDX tokens equal to 1 $RDX VOTE
- Each RDX token is worth 1 $RDX VOTE
Please note: To be an eligible voter for any proposal on our Snapshot, you must have $RDX VOTE from any or all of the 3 above options at the time of the vote being started. This means that you cannot simply buy RDX tokens to vote on an already ongoing vote, and is meant to reduce the risk of influence by whales and flashloaners. For a vote to pass and become binding, it must gain a quorum of at least X million $RDX VOTE. (X is to be determined).
Major uses of the treasury will require that the Multisig sign it. The members of the multisig should only sign it if it is the will of the community and has had a passing vote by quorum. There must be at least X out of Y signatures for a transaction to be approved. (Details to be determined). At time of launch, uses of the treasury will be entrusted to @cryptostan and @cryptobigboy until community governance milestones are met, and multisig holders (chosen from Hex and PulseChain community) are in place.