🚩Governing Symbiosis
The ultimate Guide: how to participate in the Symbiosis DAO and unlock the full potential of decentralized governance.
Symbiosis DAO
A Decentralized Autonomous Organization (DAO) is an entity structure with no central authority that decentralizes decision-making among the members of the DAO.
The Symbiosis DAO has its token: SIS token, which can be used in two ways:
Token holders can trade, exchange, or stake it.
Token holders can vote to influence the way the Symbiosis protocol is developing.
Thus, users who have SIS tokens and vote on Symbiosis initiatives are members of the Symbiosis DAO.
Getting Vote Power
Users should lock their SIS tokens into a voting escrow to participate in governance.
By staking SIS tokens, users get veSIS tokens that give voting power, rewards for participating in the Symbiosis DAO, and boosted APRs for providing liquidity.
One veSIS token equals one vote.
The longer SIS tokens are locked, the more rewards and voting power holders have:
1 SIS locked for 4 years = 1.00 veSIS 1 SIS locked for 3 years = 0.75 veSIS 1 SIS locked for 2 years = 0.50 veSIS 1 SIS locked for 1 years = 0.25 veSIS
For a complete guide on how to get veSIS and rewards, please refer to veSIS
Voting
Proposals on the Symbiosis protocol get published on the Snapshot dashboard.
One veSIS token equates to one vote, and decisions with the most votes are adopted.
To cast your vote on an active proposal:
Connect your wallet (you won't pay for any transaction; you just prove that you have voting power by your signature).
You can change your vote while the proposal is active.
Done ∎
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