How it works

There are quite a few details involved with this DAO, so take your time to read through this documentation before creating a new proposal or voting on existing proposals.

Creating a New Proposal

To create a new proposal, you will incur a cost of 10,000 $LZPZ tokens (approximately $0.02 at current prices). This process allows you to set a title, a description, a duration for the vote, and a pledge amount.

The first three fields are self-explanatory. The pledge amount represents the number of tokens you commit to backing your proposal, demonstrating to the community the value you place on this initiative.

It is important to note that the pledge is non-refundable and will be distributed as a reward to the participants who voted on the winning side of the proposal. For detailed information on how the pledge reward system operates, please refer to the "Pledge Rewards" section.

Voting on a Proposal

Voting on a proposal incurs no costs other than the base chain transaction fees. Additionally, you will recover all the tokens you used to vote after the proposal concludes, regardless of its outcome. Please note that these tokens will be locked within the proposal for its duration and can only be withdrawn once the proposal has officially ended.

Concluding a Proposal

Each proposal is subject to a maximum duration of 30 days. A proposal automatically concludes when it reaches its time limit; however, the creator of the proposal has the option to end it early.

If a proposal is concluded prematurely by its creator, a fee equal to twice the original pledge amount will be incurred. For example, if the proposal was initiated with a pledge of 100,000 tokens, the creator must spend an additional 200,000 tokens to conclude it early. These 200,000 tokens will be burned, meaning they are permanently removed from circulation. The initial 100,000 tokens pledged will still be distributed to the winning voters as initially intended.

Withdrawing Tokens

After a proposal has concluded, voters are entitled to withdraw all the tokens they used for voting. There are no additional costs associated with this withdrawal, aside from the transaction gas fees.