WingRiders DAO Voting TLDR

Hey Riders,
prior to the recent Beta release of our DAO Voting platform we published a few articles about Decentralized Autonomous Organizations (DAOs), general DAO voting mechanisms and finally our solution and a UI walkthrough. We understand that there is a lot of information to absorb at times, so we decided to do a TLDR of the governance system being used by WingRiders.

DAOs

Let’s start off by reviewing why a DAO? WingRiders’ governance is steadily moving towards becoming a full fledged DAO, giving control to its members who are $WRT token holders. Members can propose changes around economic, technical, community-oriented or even political matters concerning the DAO. Decentralized autonomous organizations are supported by a peer-to-peer (P2P) contributor network. Their management is decentralized, with no top executive teams, and is based on automated rules encoded in smart contracts. DAOs allow all members to take part in communal decision-making and investment decisions.

WingRiders governance explained

At the heart of any DAO is the Governance mechanism which allows proposals for changes to be submitted and approved through member voting. Our system was designed with openness and transparency in mind. Using the governance portal is simple. Let’s use an example to understand how it all works. Let’s say a member has a proposal to make on starting a new farm they would like to see added to the DEX. The first action before submitting a proposal would be to have a discussion on the improvement portal with community members and also, in parallel, have the same discussion on our Discord in the dao-lounge with community members to gauge support and/or fine tune the proposal. Of course, a proposal can also be first submitted and then discussed through the before mentioned channels. Entirely the proposers choice.

Just to give you an idea of other areas that changes can be proposed on are:

• protocol parameters of the platform
• which features will get added next
• upgrading modular smart contracts
• fee parameters of the platform
• farm reward allocation

Once the member is happy with the proposal, they can head over to the governance dashboard, connect their wallet and click “VOTING” under the governance link to start the proposal submission process. Creating the proposal is pretty straightforward, just click the “CREATE A PROPOSAL” button at the top right of the UI and the form opens up. Just fill in the details in the form and hit “CREATE PROPOSAL” and sign the fee for submission in your wallet and you are done. It should be noted that the proposer can also ask for the reward they want for putting the proposal forward.

Voting on proposals is also very simple and intuitive. Members can see all the proposals that can be voted upon in a period under the “Voting Open” section in the “Voting dashboard” and any upcoming proposals in the future. There is a period when votes are accepted for each proposal, and this is also indicated here. For details of the proposal and the current status of votes, the member just clicks on the proposal title shown there or the arrow at the end, and all the details are revealed. The member then just casts their vote here and this will be registered. The voting power a member carries is equivalent to the $WRTs they hold in their wallet and across the WingRiders Platform.

If a member wants to check the status of the votes, they can always return to the “Voting Dashboard” and check on the detailed panel.

Really, it is as simple as that. So just to sum up. A proposal is created via the “Voting Dashboard”, discussed in the community channels and then voted upon in the same voting dashboard. Voila!

Don’t forget for a detailed walkthrough of the UI and explanation of the logic behind the WingRiders’ voting system you can always read this. Happy governance.