Governance

How do I take part in governance?

By staking $PACIFIC, a user earns the right to create proposals and vote in them.

Voting power is determined by the number of $PACIFIC each user has staked. The reasoning behind this is that those holding more $PACIFIC are more invested in the project, and therefore have a larger incentive for the platform to succeed.

How do I vote?

Voting power is based on the amount of $PACIFIC each user has staked. We will provide our governance links shortly.

How do I create a proposal?

Proposals can be created by anyone who stakes $PACIFIC.

To propose a topic for voting, users will need to deposit USD 100 worth of $PACIFIC as collateral. If the proposal should fail, they will lose the $PACIFIC collateral, but if the proposal passes evaluation from the council, then the vote will proceed.

Each proposal is made up of a question that is asked to the community, along with the option of choices that others can vote on in response to the question. Users can set a start and end date for the proposal and publish it.

Each proposal is made up of a question to pose to the community, along with the option of choices that others can vote on in response to that question. Simply set a start and end date for your proposal and publish it.

The voting process

To submit a proposal and vote within the Pacific DeFi ecosystem, a member must hold and stake the $PACIFIC token. Each token represents 1 vote within the Pacific DeFi ecosystem.

To propose a topic for voting, users will need to deposit USD 100 worth of $PACIFIC as collateral. If the proposal should fail, they will lose the $PACIFIC collateral, but if the proposal passes evaluation from the council, then the vote will proceed.

If the proposal receives over 51% of the votes from valid voters (staking $PACIFIC), then the depositor will receive their $PACIFIC back as well as a bonus for helping the ecosystem.

The voting timeframe:

● 1 week for proposals

● 1 week for evaluation of proposals

● 1 week for voting of proposals

● 1 week for the implementation of proposals

$PACIFIC stakers will be allowed to propose the following changes to Pacific DeFi’s ecosystem:

● The type of assets used to lend and borrow (e.g. USDT, USDC, DAI, ETH, BTCB)

● Adding new pages and product features

● New assets to add to the High-Yield Vaults

● Brand updates

● UX/UI improvements

● Future products to add to the pipeline