Today, we are extremely excited to announce that Haze Finance governance is now live! From this point onward, all changes in Haze Finance will be proposed and decided by the community members of HAZE tokens holders, and this officially marks the beginning of the fully-decentralization of Haze Finance.
What can DAO members do?
Everything. Passed proposals are not suggestions to consider but rather actions that have to be taken. DAO members can submit proposals of any kind that they think will benefit Haze Finance and Haze community as a whole.
Here are some possible examples:
- Stop the minting of HAZE tokens
- Continue the Haze Frequency Mining reward for the next 2 billion total volume instead of 800 million
- Add $BNB to the private transactions and Frequency Mining pool
- Distribute funds in treasury to HAZE tokens holders.
Who can create proposals and vote on proposals?
To prevent manipulation of the protocol, we have set the bar of proposal creation to anyone that holds more than 0.5% of the total supply of HAZE tokens. As the max supply of HAZE tokens is currently capped at 1 million (subjected to change via governance proposals and voting), this means that anyone that holds 5000 or more HAZE can create proposals for the rest of the DAO members to vote. Any proposals created need to have an “invalid” option, meaning DAO members may not create a proposal asking “how much extra reward should we distribute to token stakers?” and give the options of only “5%, 10%,15%” without giving the option of “we should not distribute extra reward.”
Anyone that holds HAZE or sHAZE tokens can vote on proposals. In order for a proposal to past, it needs to meet both of the two criteria: it has to be a majority vote and it has to have 20,000 (2% of the max token supply) or more votes.
We will add the governance to Haze Finance website soon, for now you guys can access it through this link here:
Now, go exercise your rights and vote!