Governance
Participate in Nusa's governance program and earn incentives for your contribution.
Nusa Governance Program is a decentralized mechanism in which stakeholders can participate in making decisions regarding the operation, evolution, and maintenance of the protocols. This program allows you to influence the development and direction of the project. Features established to support this program include veToken and Voting features.
veToken
veToken is the Governance token that grants holders the right to participate in the governance and decision-making processes. The Governance token used in the Nusa Governance Program is called veNUSA.
veNUSA serves the following functionalities:
Voting Rights: veNUSA holders can vote on or make submissions of proposals related to the platform. These proposals can include protocol upgrades, parameter changes, funding allocation, or other significant decisions that impact the platform.
Governance Participation: veNUSA holders can actively participate in discussions to voice their opinions, make suggestions, and contribute to decision-making processes.
Reward Distribution: To earn veNUSA, holders should lock their NUSA for a period of time and will be rewarded for their commitment to long-term support for the project. The reward offered for holders will be 60% shares of Nusa protocol revenue.
How to Earn veToken
Participants should lock NUSA in the Governance feature to receive veNUSA. The amount of veNUSA a participant has will represent the influence of their vote, the right for them to submit new proposals, and the portion of profit sharing they will receive. veNUSA amount will gradually decrease until the period of lock finishes. Only until veNUSA amount becomes zero that the locked NUSA token be able to be withdrawn.
To learn more about veNUSA calculation, click here.
Reward Distribution
Every month, 60% of the protocol’s revenue will be allocated to Governance Program participants. The rewards will be distributed once, on the 28th of each month.
For example, if in a given month 60% of Nusa’s protocol revenue amounts to $10,000, then $2,500 will be distributed in full on the monthly distribution date.
Keep in mind that the amount of veNUSA will represent how much participants can earn from the profit sharing. Since the amount of veNUSA will decrease over time, the portion of reward received will follow.
Voting
Voting system in blockchain refers to a decentralized method of decision-making and consensus where participants can express their preferences or opinions on specific matters. Utilizing the transparency and immutability of blockchain technology, participants are allowed to cast their votes securely and anonymously, ensuring the integrity and fairness of the process. Blockchain-based voting systems offer increased trust, audibility, and resistance to manipulation or fraud.
As a decentralized project, Nusa allows the community to cast votes or make new proposals for Nusa developments. In order to participate in voting, participants need to utilize veToken which will represent their voice in the voting and the eligibility to make new proposals.
Who can participate?
Cast Votes: Anybody within the Nusa community who owns veNUSA can participate to cast a vote. There is no minimum or maximum amount of veNUSA owned to become eligible.
Submit Proposals: Nusa developers and significant shareholders can submit new proposals. To become a significant shareholder, the participant must own at least 500 veNUSA.
How is the process of proposal submission and voting?
Developer or holder submits a proposal through the voting page
New proposal will be announced and provided a discussion group on telegram
Governance participants are encouraged to cast their vote during the voting period
After the voting period ends, developer will give 3 days for any rebuttal proposal
If within 3 days there is no rebuttal proposal, developer will announce the voting results and the execution plan
To learn more about reward distribution calculations, click here.
Disclaimer: Crypto is high-risk investment. Please do your own research and make sure you understand how to use the platform before taking further action.
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