How does Governance Work on Koinos?

Proposals: Anyone can submit a proposal. There is a spam mitigation fee of 100 $KOIN. Once proposals are submitted there is a 1 week review period where people can talk about it, review the code or do nothing.

Voting: 1 week after the proposal is submitted for review, there is a 2 week voting period where block producers can vote yes or no.

Application: If the proposal passes, a 1 week application period allows node operators to prepare their nodes for the application of the proposal.

How do votes work?

Only block producers may vote! If you are not actively participating in block production through a burn pool or solo mining, then you cannot vote. Each block producer gets to apply 1 vote for each block they produce, therefore all block producers are represented by how much VHP they are producing with. The more VHP a block producer has, the more blocks they produce, and the more votes they can submit.

1 vote = 1 block produced.

Mining pools are encourage to speak with their depositors on which way the pool intends on voting. If depositors object, they should be allowed to withdraw their VHP and move it to another pool or solo mine to cast their vote.