EPNS which defines itself as the missing piece to Web 3.0 has a firm belief that empowering the community is important for the network’s success. To fulfil this vision, EPNS launched the Progressive Decentralized Governance Infrastructure and the EPNS Rockstar Program to reward and express gratitude towards the early adopters. To implement governance, the protocol uses snapshot, an off-chain and gasless multi-governance client. The voting mechanism through snapshot is based on the count of the $PUSH tokens delegated on a particular voting address. Any changes to the protocol have to pass through the governance proposal and voting system.
What is Decentralized Governance?
It simply means giving direct control to the users of the product they are using. The community takes care of the organization rather than a centralized party. This creates an opening for users to collaborate and bring about an innovation in the organization. The users have freedom to express their views and ideas which are considered, respected and incentivized.
The 4 roles of EPNS Governance
- PUSH Nominee
If you are active member who support the EPNS vision, you can nominate yourself to be a PUSH nominee. If you do not wish to nominate yourself, you can even delegate your $PUSH token voting rights to another nominee who can in-turn vote on any governance proposals via snapshots.
- PUSH Delegatee
These are nominees who have more than 75,000 $PUSH delegated to them. They have the power to create proposals via snapshot. These need to be then approved on the forum.
- PUSH Delegator
Any holder of a PUSH token can freely delegate their voting right to any nominee. The best idea would be to delegate to a PUSH delegatee as their ideas and thoughts are better represented.
- PUSH Champions
We all know EPNS is all about the community, hence it is important that the community has authority. The community members who are active are eligible to become PUSH Champions by supporting the EPNS metagovernance in the following ways-
The leaders from the Web 3.0 space who support the insight of EPNS and are ready to educate the community members about decentralized Governance.
The EPNS teams members who help in guiding the community to carry out a fair governance procedure.
These are champions who will be elected to help the community in carrying out the governance procedures smoothly. The first batch of elected champions will be rolled out by floating a proposal. The elected champions will also be paid for their duties.
The Governance Process
- Proposal Phase
The first step of the Governance Process. The proposer who wants his proposal to be accepted and passed in EPNS governance has to submit his proposal on the Governance Proposal Forum.
Criteria to be selected for the Discussion Phase-
1. Following the Draft Proposal Template is a must.
2. Should be submitted under the ‘Governance Proposal” Tab.
3. Has to be live for more than 5 days with minimum 5 likes to it.
The PUSH champions ensure that all the criteria and rules have been followed. If there are any changes required, they can ask the proposer to re-submit it.
- Discussion Phase
Round number 2 is the discussion phase, the proposals that meet the criteria are promoted here by PUSH Champions after they gain traction. The proposal is actively discussed and debated by the community in this phase. There maybe changes to the draft proposal after the discussions, the final proposal after considering the changes in the discussion round will move forward and become a formal proposal. It has to be also noted that only the PUSH Delegatees can initiate the formal proposal. If the proposer doesn’t have enough votes, he can look for a delegatee or ask a champion to help him.
Criteria to be selected for Snapshot Phase-
1. Has to be live for more than 5 days in the Discussion category.
2. The Proposal should receive 10 likes minimum.
3. There should be more than 3 replies to the proposal.
- Final Phase- Governance
This is also known as the Snapshot phase. The formal proposal when it reaches this stage, has to go through a formal voting system on Snapshot. The proposals on Snapshot are given a period of 7 days for the community to vote. This process is moderated by the PUSH champions.
The Proposal to get passed has to –
1. Get Majority of positive votes.
2. The proposal has to meet the quorum. If the quorum is not met in 7 days, the proposal is considered to be failed.
The Quorum is minimum 4% of the total circulating supply of $PUSH voting. This helps in confirming that the proposal has received sufficient voter participation.
What is EPNS doing to PUSHHH Governance participation ?
EPNS is looking to invite and motivate more and more community members to be a part and help buidl the communication layer of Web 3.0. They have got some cool new updates which you should surely checkout-
New Governance Website
Yeah they have built a brand new website just for Governance. The site will cover all details relating to governance- Different Roles, PUSH Grants Program, FAQs and a lot of more stuff. You can even find the link to the new website on EPNS home page.
A Governance channel is being launched on the EPNS Dapp, you will immediately be notified whenever a new piece of information drops out about EPNS governance. The notifications will include new proposals, upcoming votes and announcements related to incentives. The basic idea is to keep the people aware about all the governance information.
A web 3.0 platform should be supporting another web 3.0 platform right ? So from now onwards all governance related blogs will be posted on mirror. The new go to destination for EPNS governance blogs. How cool is that ? Maybe even CyptoProfessorIndia can shift there!
The EPNS Governance team will be having community calls every week to answer all the queries of the users. I am sure this blog might have helped you till now but still if you have any queries before getting started to contribute for EPNS, you can join the call on discord.
$$$$$$ Rewards is what everyone waits for! To promote the launch of the new website, EPNS has organized a giveaway on gleam.io. Follow easy steps and win 200 $PUSH tokens.
The EPNS Governance is like a perfect democracy – of the people, by the people and from the people!
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