Voting Power

Voting power is based on the number of govenance tokens held, how long they are locked up, how much power is delegated and other factors. Voters are encouraged to vote by being given additional governace tokens, effective increasing the power of active participants at the expense of those who do not vote. Participants can also delegate votes on some or all topics to trusted participants to ensure that they receive a full measure of rewards.

The first thing that may be unfamiliar is that a member’s voting power changes depending on the proposal, and how many other people vote on it.

Your voting power is the balance of your GFACT, plus any GFACT that is delegated to you … maybe. Your GFACT delegations are topic specific, so if the proposal is not one for which people have delegated to you, like Finances or Business Development, then no delegations are added to your voting power.

Otherwise delegations work as you would expect – if the delegator votes, they’re not engaged, but if they don’t vote, then the delegations add to the voting power of whoever did.

The result of this is that small groups of members may be able to reach a quorum on topics without any other members voting. The end result is something like the DAO collectively hiring for certain roles and certain teams. If four people hold the majority of Software Development delegations, then they are essentially the developer team.

If other members want to get into the weeds of any decision, they can, but the default is that people who are trusted the most on certain topics are able to make decisions quickly and relatively autonomously.

Check out the FAQ for more details.