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Governance Voting System & Specifications
To ensure a fair and representative voting process, the following specifications are implemented:
Hord adopts a Token Weighted Voting system where the voting power of each token holder is determined proportionally according to the number of tokens they hold. The more tokens a holder has, the more voting power they possess. This formula assigns voting power according to the following calculation:
Voting Power = Total Tokens Held / Total Token Supply
1 HORD = 1 vote. For example, if a token holder holds 100 tokens and the total token supply is 1,000, then their voting power would be 10%.
The minimum duration for all types of proposals is 10 days. Should a proposal be scheduled to end on a Saturday or Sunday, the voting period will be extended to a Monday. These periods allow sufficient time for token holders to review, discuss, and cast their votes.