🔗Governance

KLAY DAO Governance builds a system for KLAYTN value increase and overall ecosystem growth through KLAY DAO, a consensus that operates governance through voting. DAOs stake KSO tokens, earn voting rights, and distribute KSO inflation rewards in exchange for voting rights and participating in governance. Since the DAO can earn more by increasing the value of KSO, the DAO will naturally determine the main issues of the protocol based on the basic premise of ecosystem growth through the increase of the value of KSO. Through the governance structure in which the increase in the value of KSO and the profits of the DAO are directly linked, it creates a continuous demand for KSO to secure voting rights and induces an increase in participation in staking. This not only forms a stable price support base for the token, but also forms a virtuous cycle structure in which KSO's value can continue to rise through the activation of governance and DAO.

● Voting Registration Users who wish to register to vote in KLAY Swap Governance must hold at least 0.1% of the total voting rights issued to the protocol at the time of voting registration. Voting registrants can register by selecting one of the proposal types. Tokens used for registration fees will be burned.

● Voting Period Voting will run for a total of 3 days. When voting starts, snapshots of the entire wallet are taken to determine the number of votes allowed for each wallet. Voting rights acquired by staking additional tokens after voting has started cannot be exercised. Once voted, it cannot be changed.

● When the first round of voting is completed, if the vote meets the minimum participation and final approval criteria, the first round of voting is considered successful and moves on to the next stage. If the conditions are not met, the vote will be canceled.

● Participation Voting Rights Total number of votes issued to the protocol as of the snapshot at the time the voting started, and represents the total number of votes available to participate in voting.

● Minimum participation criteria Based on the number of eligible votes, at least 30% participation is required to be considered a valid vote

● When the total number of voters at the final vote exceeds the minimum participation criterion and more than half of the total voters approve

● Inspection The votes approved in the first round will remain in the state of inspection for a certain period of time. During the maintenance period, a final check is performed to ensure that there are no problems caused by the execution of the transaction.

● When the final reflection check ends, the transaction is executed, the protocol code is changed, and the vote is finally reflected. Voting creation and detailed procedures

● Vote Registration Instructions To register to vote, you must fill out a voting proposal. Users who wish to register to vote must have at least 0.1% of the total protocol KlayDAO in their wallet at the time of voting registration in their wallet.

● Voting Participation Guide To participate in voting, you must have the right to vote before voting begins. At the start of registered voting, the number of votes is identified through snapshots. Therefore, the voting rights obtained by staking additionally after voting has started will not be reflected. You can check the number of votes that can be exercised by entering each voting detail page on the main governance page. After selecting the yes or no button on the voting details page, click the [Vote] button in the transaction pop-up window to complete the voting. Once voting is complete, it cannot be changed.