Vox Finance is governed by holders staking VOX2.0 tokens in our staking pool, therefore by it's own community. Proposals and votes can be made on the Snapshot platform.
Proposals are abbreviated with the VIP prefix, meaning "Vox Finance Improvement Proposal". Each proposal submitted on the governance platform will aim to improve the existing protocal either by modifying an existing feature or by incorporating a new one, which needs to be developed first or can be forked.
Only users staking VOX2.0 tokens in our staking pool on can create and vote on new proposals. There is no minimum amount required to vote on a proposal, however, users need to stake at least 10 VOX2.0 to create new proposals.
Although the creation of new proposals is open to community members, these need to follow strict protocol guidelines and will always be inspected by the core team to determine the proposal's feasibility, as it might be bad-intended or even include features that are outside of the scope of our project.
The quorum for proposals is set to approximately 30% of all staked VOX2.0 tokens, which means at least 300 VOX2.0 worth of staked tokens need to vote in favor of a proposal for it to pass.