Governance Mechanism

l NFT staking system: Users stake their NFTs in a designated smart contract to obtain voting rights. The type and amount of NFTs staked may influence the weight of the voting rights.

l Acquisition of voting tokens: Users can obtain HYP through various means, which is the sole medium used for voting, with each HYP representing one vote.

l Proposal and discussion platform: Community members can submit, discuss, and review proposals on a dedicated platform. Proposals need to detail the issue, solution, expected impact, and implementation specifics.

l Governance Flow

l Proposal submission: Community members submit governance proposals through the proposal platform.

l Proposal review: The Governance Committee conducts a preliminary review of proposals to ensure they align with community interests and strategic direction.

l Community discussion: Proposals are made public for all community members for discussion and feedback.

l Voting execution: The voting period begins, allowing HYP holders to vote on proposals within a set timeframe.

l Vote counting and announcement: After voting ends, the results are tallied and announced. If the proposal passes, it moves into the implementation stage.

l Proposal Implementation: The Governance Committee oversees the execution of proposals, ensuring they are carried out according to community decisions.