How does Voting Work?

Simply put, voting is when members of necDAO express approval or disapproval for a given proposal. Whilst anybody can propose, only Reputation holding members of necDAO are able to determine the success of proposals.


How does voting work? 


Quick Facts:


  • The act of casting a vote creates a transaction that is transparent and recorded on the Ethereum blockchain.
  • The amount of Reputation you have reflects the strength of your vote as a member 
  • The act of voting doesn’t spend a member's Reputation
  • Members should only vote on worthy and legitimate proposals 


What is the difference between relative and absolute majority


Regular Proposals (Absolute-majority)


Overview: Absolute-majority requires a majority of every member in the DAO to vote a given way, for or against, on a given proposal. 


Example: If a DAO has 100 members, at least 51 will need to vote the same way, for or against, for the voting process to complete. 


As you can imagine, this requires a significant amount of collective attention and can result in proposals either languishing or taking a long time to pass or fail. By default, all proposals submitted to the necDAO will begin life with this requirement. There is, however, a way to ‘boost’ proposals.


Boosted Proposals (Relative-majority) 


Overview: Relative-majority requires the majority of only those members who voted on a given proposal within a certain time-frame. In other words, a proposal is open for one week and the outcome is determined based on the votes of the members who engaged.


Example: If a DAO has 100 members and a proposal is submitted, subsequently boosted and 10 members vote within a select time-frame (determined by the value of the prediction challenge) then 6 votes of the 10 would need to align for the proposal to pass. 


This makes the DAO scalable and allows proposals to complete in a shorter time-frame. It also adds an extra engaging element to necDAO through the use of prediction markets with those who engage in them, winning GEN awards for making accurate predictions for or against a proposal.  


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