Snapshot Voting

Once a recognized delegate has formalized a NIP, the recognized delegate will add the NIP to the Notional Snapshot for token holders and delegates to vote upon.

Who can vote on Notional's Snapshot?

• NOTE holders (Mainnet & Arbitrum)

• Staked NOTE (sNOTE) holders

• Notional Delegates

Vote system

The Notional Snapshot supports basic voting where stakeholders can vote For or Against a proposal. Stakeholders can also Abstain from the vote.

Quorum

The voting threshold to reach quorum is currently set at 1,000,000 NOTE. Abstain votes don't count towards quorum.

Success condition

For a governance vote to succeed, the amount of For votes must be larger than the amount of Against votes. In other words, a simple majority is required for a vote to succeed.

// Success condition
forVotes / (forVotes + againstVotes) > 0.5

On-Chain execution

Over the coming months, governance will move to become increasingly on-chain.