Governance Structure
Last updated
Last updated
The governance structure of the MNICorp ecosystem plays a crucial role in ensuring transparency, fairness, and effective decision-making. In this section, we will delve into the key elements of the governance structure, including token vote weight, the unique Mint and Burn mechanism, and the introduction of the Resolution Council for dispute resolution and oversight.
Token vote weight within the MNICorp ecosystem is based on the number of MnI tokens held and/or staked by participants to qualify for 1 of the 5 tier structures. This means that participants who hold a larger number of MnI tokens or have staked a significant amount of tokens have a higher tier and have a slightly higher influence on the decision-making process while still keeping it balanced, fair and inclusive for all. This token vote weight system ensures that decisions within the ecosystem are made collectively and reflect the interests of the community.
(T1) 100 -10,000 = 1 Governance Tokens (T2) 10,001 -100,000 = 3 Governance Tokens (T3) 100,001 -1,000,000 = 12 Governance Tokens (T4) 1,000 001 -100,000,000 = 18 Governance Tokens (T5) 100,00,001 - ABOVE = 25 Governance Tokens
To maintain balance and prevent manipulation, the governance structure implements a unique Mint and Burn mechanism. This mechanism ensures that the supply of MnI tokens remains in check and aligns with the overall goals of the ecosystem. Minting refers to the process of creating new Goverance tokens while burning involves permanently removing tokens from circulation. The Mint and Burn mechanism allows the ecosystem to adapt to changing circumstances while maintaining stability and fairness.
In addition to the Goverance token vote weight and Mint and Burn mechanism, the governance structure introduces the Resolution Council. The Resolution Council serves as an essential component of the ecosystem's oversight and dispute-resolution framework. In the event of malpractice, manipulation, or other unfair practices, the Resolution Council has the authority to intervene, overturn decisions, and reinstate a new vote. This additional layer of security and oversight ensures the integrity and fairness of the governance process.
The governance structure of the MNICorp ecosystem is designed to empower participants, foster collective decision-making, and safeguard the community's interests. By allocating voting power based on MnI token holdings and staking, participants have the opportunity to actively shape the future direction of the ecosystem. The unique Mint and Burn mechanism ensures a balanced Goverance token supply, while the Resolution Council acts as a safeguard against unfair practices, providing a mechanism for dispute resolution.
