Table of Contents
Overview of MinSwap Governance
MinSwap is a decentralized exchange (DEX) that operates on the Cardano blockchain. As a community-driven project, it operates under a governance model that allows community members to participate in decision-making and shape the future of the platform.
MinSwap governance operates through a native governance token called MIN. Holders of MIN have the ability to participate in governance decisions and vote on proposals that will impact the future of the platform.
Snapshot Voting
The MinSwap platform takes an automatic snapshot of all wallets every day at 7 AM UTC. This snapshot captures the amount of MIN held in wallets, as well as the amount of MIN held in MIN-ADA LP tokens, MIN-ADA LP tokens in Yield Farming, and MIN tokens held in the MINt staking system.
The voting power of a MIN token is the same, regardless of whether it’s held in a wallet, staked, in liquidity pools, or in other forms. This is because the voting power of each MIN token is calculated based on its total supply, rather than its current state.
Therefore, a single MIN token held in a wallet would have the same voting power as a single MIN token staked in a liquidity pool or MINt staking. This ensures that all MIN token holders have an equal say in the governance decisions of the MinSwap platform, regardless of how they choose to hold or use their tokens.
Proposals and Discussion
Proposals for governance decisions on MinSwap can be submitted on the platform’s official forum. The forum provides a space for community members to discuss proposals and provide feedback before the snapshot vote.
Once a proposal is submitted, it must go through a verification process to ensure it complies with MinSwap’s guidelines and does not pose any risks to the platform. If the proposal is approved, it will be added to the next snapshot vote, where token holders will have the opportunity to vote for or against it.
Important Governance Links
The following are important links related to MinSwap governance:
- MinSwap Discord: This is the official Discord server for the MinSwap community. It’s a place where community members can engage in informal discussions, share ideas, and connect with other MinSwap users.
- Governance Forum: The MinSwap Governance Forum is a more formal avenue where anyone can post ideas to improve MinSwap. The forum provides a space for community members to discuss proposals, provide feedback, and make suggestions to improve the platform.
- Voting Portal: The MinSwap Voting Portal is where anyone can vote to implement ideas with their $MIN tokens. The portal provides a transparent and democratic way for MIN token holders to participate in decision-making and shape the future of the platform.
Together, these links provide the MinSwap community with a robust platform for governance, discussion, and participation in the decision-making process. By engaging with these resources, community members can help ensure that MinSwap continues to grow, evolve, and provide value to its users.
Kitty Farmer Committee
Kitty Farmers, also known as “OGs” in the MinSwap Discord community, are some of the most passionate and experienced members of the MinSwap community. They have been supporting the MinSwap team from the beginning, providing invaluable feedback, and helping other less experienced community members get acquainted with MinSwap and DeFi in general.
Kitty Farmers play a significant role in the governance of the MinSwap platform. They help adjust the parameters of the formula used to calculate the rewards for liquidity providers, as well as decide on the addition and removal of farming options. Their expertise and contributions are highly valued by the MinSwap team and community.
In addition to their governance role, Kitty Farmers also have access to special rewards and benefits on the MinSwap platform. They are recognized as key members of the community and are often consulted on important decisions regarding the future direction of the platform.
Conclusion
MinSwap governance operates on a community-driven model that allows token holders to participate in decision-making and shape the future of the platform. Snapshot voting and discussion forums are two crucial components of the governance process, ensuring that proposals are thoroughly vetted and that all stakeholders have the opportunity to participate in the decision-making process.
