Welcome to Social Governance

Hi BankSocialites, welcome to the BankSocial ($BSL) Governance Forum!

Here is a quick outline of how the governance process works:

  1. Submit a forum post Proposal in the Proposal Discussion section.

  2. Get in touch with BankSocial Telegram Admins to discuss your proposal in a community call and on Twitter Space as well.

  3. Once you feel like your proposal has been well crafted, create another forum post in the Temperature Check section to initiate an off-chain temperature check vote with minimum 5 days voting time. This action requires at least 50 votes to move to on-chain consensus check. Please, Update the temperature check post with the community feedback in the proposal post. Proposal posts are where you get most of your initial community feedback.

  4. Once a temperature check has 50 votes, the mod team will publish a BIP Consensus Check (consensus check). The snapshot would be deemed valid if at least 1B $BSL participates between both chains (ETH & HBAR), and the consensus check is voted to pass. If a Consensus check reaches 2B $BSL participation in the first 5 days the vote automatically reaches quorum for a final vote, and if voted in favor, becomes a BIP.

  5. All proposals that pass consensus check with the minimum 1B $BSL participation will be presented to the BankSocial BSL token holders for a vote with an official BIP Vote (proposal vote) which takes 2B $BSL for a full quorum.

There are a few things you should know before jumping in to the discussion:

A democratic consensus, in our process called “quorum”, is determined by the percentage of $BSL tokens in favor of, or against, a proposal. 5% of all $BSL in existence (20B tokens) must be cast in favor in a consensus check to submit a BIP proposal for final vote, and 10% in favor in order to pass a final BIP vote.

Let´s try to keep posts in English as well. We welcome discussion on BankSocial in other languages (in, for example, the BankSocial Telegram).

Your Friendly Neighborhood Mods