Prom’s bold dream is to be the best multifunctional and completely decentralized DAO-ruled P2E platform. Thus, if you are a part of the community, you are always welcome to upgrade and change any of its tools, features, and characteristics. All you need is to make a proposal and wait till other DAO members accept or decline it or vote for the existing ones. Let’s describe the processes, define how to make offers sound, and vote easily.
The Process
Prom DAO members can submit their proposals at the Prom DAO page created on Snapshot platform. We will open the page for your proposals on September 19, and will share the link on our socials. Your ideas will be explored by our community enthusiasts who can vote for or against them within a set 7 day period. If a proposal gains enough recognition, it is adopted by Prom. Importantly, nobody can hack or garble voting because all votes are visible on the platform. Meanwhile, we guarantee that being a truly user-oriented P2E platform, we implement any proposals that get the majority of votes in favor. The only thing to reverse them is to create new ones.
How to Make Proposals
Note, that although you don’t pay or lock your assets to create a proposal, you need to hold a minimum amount of 100 $PROM to make one. If you don’t hold enough tokens in your wallet, you won’t be able to proceed. Proposal creation is simple and transparent. Just follow our guide.
- Go to a project space and sign up via your wallet.
- Tap on the “New proposal” button.
- Fill out the Title and Description sections.
- Tap on the “Continue” button and choose the voting system and options.
- The proposal voting period is set automatically for 7 days.
- Tap on the “Publish” button.
Important Details
Your proposal will be posted on the Prom DAO page for community vote. During the next 7 days the proposal would be highlighted as “Active”. The proposal needs to pass a required quorum of 200,000 $PROM and get the majority of votes in favor of adopting the idea to get reviewed by Prom. To boost the potential implementation of promising proposals, we will also highlight them on our socials. If your proposal reaches 100,000 $PROM in votes, we will publish the announcement with the link to the proposal.
The quorum is filled by other members’ votes. For example, Member 1 holds a total amount of 5,000 $PROM that is counted as a vote, Member 2 holds a total amount of 10,000 $PROM. Together they vote for a certain proposal, making up a 15,000 $PROM out of 200,000 $PROM quorum. The sum of the held tokens is a number of votes.
The Prize Pool
If the majority of DAO members vote for implementing a certain proposal and the proposal reaches the needed quorum of 200,000 $PROM, all the members, including the proposal’s author are eligible to share the prize pool of 2,000 $PROM. The author gets 50 $PROM, while the members who voted for the proposal split the reward proportionally to their vote contribution.
Your proposal can look any way you like. The only limit is 6400 symbols for the description section. However, if you want to attract enough votes, check our tips on proposal making.
How to Make a Good Proposal
To be a master of proposals, you need to follow the well-known Golden Circle Theory. In other words, you need to distinguish why, how, and what you offer to other community members. To make it efficient, check good examples of proposals and follow these steps.
Preparation
- Make research. Learn everything about Prom, its potential problems, and the market.
- Point out what solutions you can offer. Don’t limit your ideation. Dream big and write as many aspects as you can.
- Evaluate the best of them and propose the one with the biggest potential.
Description
- Define what you offer, how it will work, and why it is important. Put it down in your brief introduction.
- If you use specific terms or introduce some new ones, describe each of them in separate paragraphs.
- Make a detailed overview of your proposal.
- Keep all your information well-structured and formal.
- Use statistics, proofs, and examples if needed.
- Don’t hesitate to divide all your data and use bullets
What to Propose
If you want to influence Prom’s future but don’t know what to offer, you may check other DAO proposals. However, you need to consider that any existing innovations should be adapted to the product and have a true value. Thus, we recommend you explore the market and spend more time testing Prom and games presented on the platform.
Voting for a Proposal
- Connect your wallet to the Prom DAO page created on the Snapshot platform. You will need $PROM BEP-20 tokens to vote.
- Join Prom DAO to track new proposals.
- Enter the Prom DAO page to see the list of active proposals.
- Scroll to the “Cast Your Vote” section to vote.
- The amount of $PROM you hold is your voting power. The held sum = a number of votes thus, the more tokens you have the more you impact on the voting outcome. The assets don’t get locked for voting. You can vote for multiple proposals using the total held amount of tokens. You can also retract your voice and re-vote.
Note, that only the tokens deposited prior to the proposal creation can be used for voting due to the peculiarities of the Snapshot platform.
Example:
You’ve deposited 100 $PROM to your wallet on September 20th, 12:00 UTC and additional 200 $PROM on September 20th, 15:00 UTC. In total you have 300 $PROM, but your voting power depends on the date & time of proposal creation.
You enter Prom DAO on September 21st having 300 $PROM in your wallet. How the voting goes:
Proposal 1, created on September 20th, 13:00 UTC. You can only use 100 $PROM for voting, as 200 $PROM were deposited after the proposal was created.
Proposal 2, created on September 20th, 18:00 UTC. You can use 300 $PROM for voting, as the tokens were deposited prior to the proposal creation.
The Reward
Wait for the voting process to finish. If you voted for a certain proposal implementation and this proposal has reached a required quorum and the majority of votes in favor of implementing the proposal from other DAO members, you would be eligible to share the prize pool of 2,000 $PROM. The share of the total prize pool for voters is equal to the percentage of $PROM used in the voting quorum. Thus, the more $PROM you used for voting, the bigger share of the pool you get.
Conclusion
Prom is more than a platform. It is a community of like-minded P2E enthusiasts. Thus, it is destined to grow big and develop with your advice and ideas determining the future of the whole GameFi.
Follow Prom:
Website: prom.io/
Twitter: twitter.com/prom_io
Telegram Announcements: t.me/prom_ann
Telegram Chat: t.me/prom_io
Discord: discord.gg/prom
Instagram: instagram.com/prom_io_official
CMC Gravity: coinmarketcap.com/community/profile/Prom
YouTube: www.youtube.com/channel/UC2mC_ZMPnrivHGgz5CaZnvQ
