In the world of digital currency, the importance of community governance has become increasingly prominent. ZKB token (gZKS), as the governance token of the ZKSwap platform, gives holders the rights and obligations to participate in community governance. This article will introduce in detail the community governance policy, governance structure, rights and governance processes of ZKB tokens to help users better understand how to participate in this ecosystem.
community governance structure
The community governance of ZKB tokens consists of three main parts: Portal: Users can access the Wiki community governance page through the official website, APP or browser to obtain detailed governance information.
Forum: On the ZKSwap forum, users can discuss the content, results and implementation details of the proposal to form a community consensus.
Snapshot platform: Users need to use the governance tool snapshot to publish proposals and vote to ensure the transparency and fairness of the governance process.
gZKS rights and interests
Users holding gZKS enjoy a number of rights and interests: Participation in governance: Users can hold gZKS to participate in community governance and enjoy proposal rights and voting rights.
Proposal rights: Users holding 50,000 gZKS or above can initiate proposals.
No threshold for voting: There is no threshold for participating in voting. Votes are calculated based on the number of gZKS. A single vote requires a minimum of 1 gZKS.
gZKS generation and issuance rules: gZKS is generated through a 360-day ZKS Proof-of-Staking contract. Users need to ensure that the remaining contract time is ≥180 days to obtain gZKS. If the remaining time of the existing contract is less than 180 days, the ZKSwap team will open a new 360-day PoS contract, and users can lock ZKS in the new contract to obtain gZKS.
Users who participate in ZKS 360-day PoS mining will receive a corresponding number of gZKS airdrops at the L2 address every week. The amount of gZKS obtained is directly proportional to the amount and time the user actually locks ZKS. Users who lock up for 360 days can obtain the same amount of gZKS as locked up ZKS. Users who lock up for less than 180 days cannot obtain it.
For example, if there are 270 days left until the 360-day PoS contract expires and the user chooses to lock 100 ZKS, he or she can obtain 75 gZKS in the L2 account.
The validity period of gZKS is 720 days, ensuring that users can effectively use their governance rights within a certain period of time.
Governance process
The community governance process mainly includes the following steps:
Community discussion: Users can post discussion posts in relevant sections of the forum to form preliminary proposal ideas and opinions. Forum link: ZKSwap Forum
Initiate a proposal: The proposer needs to stake 50,000 gZKS on the snapshot to formally initiate the proposal.
Review Proposal: Once gZKS is minted, the ZKSwap team will post a link to the snapshot page on the forum for community members to view.
Snapshot governance link: Snapshot governance page: Voting: Any gZKS holder can vote on the snapshot proposal voting page to ensure the openness and transparency of the voting process.
Announcement of results: The ZKSwap forum administrator will announce the results of valid proposals in the corresponding section of the forum, and synchronize the implementation plan and progress.
Proposal suggestions
Proposals only need to be supported by enough net votes to pass. The following are several types of proposals and their passing conditions:
Token Listing Proposal: Propose to officially list any ERC20 token or trading pair on ZKSwap. Passing conditions: 500,000 gZKS.
Airdrop proposal: Submit an airdrop proposal to any DEFI project user. Passing conditions: 1 million gZKS.
Liquidity mining activities: Proposal to launch liquidity mining activities for any currency pair. Passing conditions: 1 million gZKS.
Modify governance rules: Make proposals to modify community governance policies and approval thresholds. Passing conditions: 3 million gZKS.
Rate parameter adjustment: Proposal to modify the rate parameters set by the platform. Passing conditions: 5 million gZKS.
Economic model parameter modification: Proposal modifications to the ZKS token issuance economic model. Passing conditions: 10 million gZKS.
Future technology roadmap: Propose future technology roadmap development and modify the ZKSwap technology roadmap. Passing conditions: 10 million gZKS.
The significance of participating in community governance
Participating in the community governance of ZKB tokens is not only a contribution to the development of the platform, but also the protection of one's own investment interests. By actively participating in proposals and voting, users can influence the future direction of the platform and ensure that their voices are heard in the decentralized ecosystem.
Conclusion: The community governance of ZKB tokens provides every user with the opportunity to participate in the development of the platform. By understanding the governance structure, rights and processes, users can participate in governance more effectively and promote the continuous progress and innovation of ZKSwap. I hope this article can help users better understand the community governance of ZKB tokens and actively participate in it to jointly build a more prosperous decentralized financial ecosystem.