Governance Members

Governance members are people who hold gPLX holders and have voting rights.

How can you become a governance member?

One can stake PLX tokens for a certain period of time to obtain gPLX token, a proof of the number of the PLX staked by a DAO member(details).

What does a governance member do?

Voting rights allow governance members to participate in the decentralized governance of the PLEXUS protocol. However, at the early development stages, there are several issues that cannot be decided/solved by the DAO but should be solved by the development team. The governance power will gradually pass from the development team to the DAO and at the Post-DAO stage, the DAO members will decide important governance decisions.

These decisions include:

• issuing additional tokens or burning some of the tokens issued before;

• Smart contracts’ rules of operation, in particular, to change the commissions that smart contracts take from each transaction for deductions made to the Treasury;

• increasing the Liquidity Pool and/or Reserve Fund in the event of a threat to the price and liquidity of the token;

• disposing of the Treasury, in particular by issuing grants to ecosystem participants

Staking

PLX must be staked in the governance contract to participate in governance proposal voting. Staking is to lock PLX up for a certain period of time. Stakers will receive non-transferable gPLX and be able to vote on the governance proposals and directly control the PLEXUS protocol.

Voting Weight

Voting weights of the governance members are determined by the amount of gPLX and their protocol level.

• gPLX: non-transferable token which represents PLX staked. 1 gPLX can be obtained for one PLX staked. Each gPLX represents the governance power/voting power of the protocol.

• PLEXUS Contribution Points: Points that represent one's contribution to the PLEXUS protocol. Anyone can contribute to the protocol by completing the missions which PLEXUS gives out to improve the protocol. Protocol contributors can accumulate their points by completing more missions.

• PLEXUS Contribution Level: PLEXUS protocol has a contribution level system. Contribution level is decided according to the points accumulated upon completing the missions. Higher the level, more power you will have upon governance voting.

Vote Delegation

gPLX holders may delegate their Voting Weight to an address of their choice. Anybody can participate in PLEXUS governance with the delegated tokens even if they hold no governance tokens.