The BPC DAO uses a web-based Web3 app known as the BPC DAO Voting Portal to allow ndau holders to help guide the future of ndau. All ndau holders can vote on proposals using a weighted voting system based on how much ndau they hold and their currency seat status as described in the ndau whitepaper.
Here’s a video overview of how to use the BPC DAO Voting Portal:
How do I log into to the BPC DAO Voting Portal?
You can log into the BPC DAO Voting Portal here. Authentication is done by using the ndau wallet app’s built-in WalletConnect feature.
How does the weighted voting system works?
Consistent with the BPC voting structure as detailed in the ndau whitepaper, there are three classes of ndau addresses; 1. Initiator, 2. Early Adopter, and 3. Holder.
Each class has a voting power consistent with what is designated by the ndau whitepaper. There are 3 Initiator addresses that elect 3 of 9 BPC members or 33.33%. There are a maximum of 3,000 Early Adopter currency seat addresses (each holding a minimum of 1,000 ndau) that elect 3 of 9 BPC members or 33.33 %. And Holders elect 3 of nine BPC seats or 33.33%. Votes in the BPC DAO are allocated in a manner that is consistent with the method that was used for electing BPC members.
To calculate weighted voting, we use a total of 9,000,000 votes allocated according to the following method, with each class having 3,000,000 votes:
- The 3 Initiator currency seat addresses have 1,000,000 votes each.
- The Early Adopter currency seat addresses each have 3,000,000 divided by the current number of currency seat accounts (up to a maximum of 3,000 currency seats).
- Each Holder address has a share of 3,000,000 votes based on its balance as a proportion of all ndau currently in circulation (e.g. if there are 12,000,000 ndau in circulation an account with 200,000 ndau will have 1.7% of 3,000,000 votes, or 51,000 votes).
Each address may fall into one, two, or three of those categories. Each has a number of votes equal to the sum of its votes in all three categories.
The following three examples assume there are 12,000,000 ndau in circulation and there are a total of 2,000 Initiator/Early Adopter currency seat addresses:
An Initiator address holding 1,000 ndau
An Initiator account has 1,000,000 votes regardless of its balance (although Initiator accounts are defined to have a balance greater than 1,000 ndau). This account is also a currency seat, so it has 3,000,000/2,000 currency seat votes or 1,500 votes. This account has 3,000,000*(1,000/12,000,000) = 250 Holder votes.
This initiator account, therefore, has 1,000,000+1,500+250 = 1,001,750 votes.
An Early Adopter address holding 2,000 ndau
This account has no Initiator votes. It has 3,000,000/2,000 = 1,500 currency seat votes. It also has 3,000,000*(2,000/12,000,000) = 500 Holder votes.
This Early Adopter account, therefore, has 1,500+500 = 2,000 votes.
A Holder address holding 6,000 ndau
This account has no Initiator votes and it has no Early Adopter (currency seat) votes.
This account also has 3,000,000*(6,000/12,000,000) = 1,500 holder votes, so its vote total is 1,500 votes.
Where can I discuss BPC DAO proposals and voting?
Please use the ndau community Telegram group to discuss proposals and votes.