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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.