Aventus Network to launch governance application and issue first proposals to the AVT community
March 15, 2022
On Wednesday 16th March, we are launching community voting on organisations that have applied to run AvN validator nodes and are moving to Nominated Proof of Stake following the Polkadot launch roadmap.
This is an exciting milestone in our journey as it marks the beginning of the community having some control over major business decisions.
What is the governance application?
The governance application (gov.aventus.io) is our decentralised voting system. This is where our community can vote on governance proposals that are put forward.
What are the proposals being put forward and how many votes are needed for them to pass?
The six proposals to be presented via the governance application will ask $AVT holders and stakers to vote on the six organisations that have applied to run AvN Validator Nodes.
The quorum for these proposals is 1,000,000 votes each. This means that if a proposal doesn’t receive 1,000,000 votes then the votes will not count.
When will the proposals be published?
The proposals will be published on the governance application at 12 pm GMT on Wednesday 16th March, and voting will take place over a 2 week period.
Why vote? The benefits to the Aventus community
The key benefit to the Aventus Network and the community is that the onboarding of these new validator nodes will ensure that the transaction validation process is reinforced by a more decentralised network.
Most importantly, this is an opportunity for you to have your say on these key decisions for the Aventus Network, become familiar with how the governance application operates and how to vote on future proposals that are put forward to the community.
As a valued member of this community, we strongly encourage you to vote on each of the proposals being put forward on Wednesday. To be accepted each proposal will require 1M votes.
How to Vote
In order to vote on a proposal, you must have been holding or staking at least 1 AVT token at the time that the proposal was published. This means that if you attempt to vote on a proposal where the block number configured is in the past, and you were not holding or staking the required token back then, your vote will not be counted.
Please note that if you have staked all of your AVT and therefore do not hold any within your wallet, you are still able to cast your vote using the same wallet you staked with.
- Click on “Connect wallet” button in the top right corner
- Connect with the wallet provider that you used to stake your AVT or where you hold your AVT
- Click on the option(s) you want to vote for
- Sign the message via your wallet and done
- 1 vote per non-staked AVT
- 2 votes per staked AVT
These instructions will also be included at the bottom of each proposal on the gov.aventus.io.