Prom DAO Campaign: Split $120,000 in $PROM

The launch of DAO is the beginning of a new chapter for Prom. And on Monday, September 19, all members of Prom’s community will be free to join the DAO Campaign.

The DAO campaign goal is to introduce the Prom DAO system to the community and enhance the activity at the early stage. Remember, this is only the first version of Prom DAO, so participating is a chance to master the skills of being an active DAO member before we introduce a more advanced version of Prom DAO. Share your proposals, vote, and get rewarded. Interested in how to participate? Dive into the article with us.

Key Information

All contributors are free to post their proposals for vote. All the proposals should be linked to Prom and have potential value to the development of the product. The first 10 proposals to reach the needed recognition from the community, i.e., reach the required quorum and get the majority of votes for implementing the idea by other DAO members, will be reviewed by Prom. Respectively, the proposal’s author and members who voted for proposal adoption will be rewarded with $PROM.

General Requirements & Limits

  1. You need to hold a minimum amount of 100 $PROM to create a proposal. You don’t pay for making a proposal or lock your assets during the voting process.
  2. Required quorum: 200,000 $PROM. Quorum is a total amount of $PROM in votes.
  3. Maximum duration of a proposal: 7 days.
  4. Campaign finishes when 10 community proposals are accepted by other members of Prom DAO.
  5. To vote for a certain proposal you also need to hold $PROM. The more $PROM you hold, the more voting power you have and can impact on the outcome.
  6. Prom allocates a prize pool worth of 2000 $PROM for each accepted proposal. The author of the accepted proposal gets 50 $PROM. The resting prize pool is proportionally divided between the voters. The share of the total prize pool for voters depends on the amount of $PROM used during the vote. The more $PROM you used for voting, the bigger share of the pool you get.

How to Contribute?

We hope this article helped you to understand the basics of the Prom DAO campaign. Note that after the campaign finishes, Prom DAO will continue to function and welcome all the interesting proposals from its members. To help you better understand the mechanics of proposal creation and the voting system, we will publish a detailed guide before the campaign launch. Check it out before starting your journey with Prom DAO.

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