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Governance FAQs

1. How does the Unbound DAO governance process work?

Unbound employs a token-weighted voting system to make decisions about the project. Here's a breakdown of the process:

  • Proposal release and Community discussion:
    1. The proposal is released on the Unbound Discord server in the #Governance-proposals channel.
    2. Community members can ask questions and share feedback during a three-day discussion in the #Governance-discussion channel.
  • Snapshot: The proposal transitions to Snapshot for the voting phase to commence.
  • Weighted Voting: Unbound uses a token-weighted approach. The more Unbound tokens (UNB) you hold in your wallet, the greater your vote's weight.
  • Implementation: Following the 7-day voting window, the core team will begin implementing the proposal based on the outcome of the vote.

2. Which Unbound token is used for DAO participation?

UNB is the token that governs Unbound Finance.

3. Who can participate in the Unbound DAO?

Anyone holding UNB tokens on the Ethereum network can participate in the Unbound DAO.

4. Where can I find proposals for the Unbound DAO?

All proposals related to Unbound Finance can be found on Snapshot.

5. Is there a minimum number of tokens required to participate in the DAO?

There's no minimum token needed. But the more UNB tokens you have, the stronger your vote counts.

6. Who can create proposals?

Currently, only the Unbound core team can create proposals.

7. How do users vote on proposals?

Users will vote on proposals on Snapshot. Proposal discussion will occur on the Unbound Discord server on the #Governance-discussion channel.

8. What is the duration of the voting period for proposals?

Once a proposal is live, users have 7 days to cast their vote.

9. Can I use UNB tokens held on a centralized exchange (CEX) or those that are staked to vote in Unbound DAO?

To participate in the DAO, you must hold UNB in a Web 3 wallet. Holding on to a CEX or staked UNB will not allow you to do so.