Linear Council Voting Live!

Linear Council Voting Live!

Jan 25, 2022 · 2 min read · cat

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Dear Linear Community,

We are pleased to announce that the Linear Finance Snapshot Space is now live and ready to host the Linear Council Voting. Nominees and their proposals can be found on the Linear DAO Forum.

Voting will be open from January 25 at 3:00 pm UTC until February 1 at 3:00 pm UTC. The voting system will be Weighted to allow LINA holders to spread their voting power (vLINA) across the 4 LC candidates.

You can submit your vote here.

Linear DAO Voting Summary

We want to take this opportunity to go over the mechanics of the Linear DAO Voting Process.

Voting power is shown as vLINA and is subject to cubic weighting. For example, if you hold 1,000 LINA your voting power will be 10 vLINA, if you hold 50,000 LINA your voting power will be 36.84 vLINA. The minimum voting power required to vote is 10 vLINA (1,000 LINA).

To submit a New Proposal, users must hold at least 500k LINA tokens (Available + Staked + Locked), which will be equal to 79.37 vLINA (∛500,000). Proposers without enough LINA can participate in the Linear DAO Forum to delegate proposal creation to another community member with sufficient balance.

Balance calculation for both Voting and New Proposals will be the amount of LINA tokens, ERC-20 and BEP-20, a user holds (Available + Staked + Locked).

By the end of the voting period, the Protocol DAO (pDAO) will announce the members of the Linear Council through our social media channels and the Linear DAO will officially be live!

Please find below a summary diagram of the Linear DAO:

Kind regards,

Linear Finance Team

About Linear Finance

Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol that allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage.

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