GOVERNANCE

When we are building our protocol, we want the community to be able to actively use the token, participate in governing decisions, and contribute to the ecosystem. Instead of building an exchange token for the sake of building one, we want the token to bridge the community and our team.

EVAM token holders are empowered to participate in the process of making decisions in Evameta Finance. This includes all modifications on contract specifications, add/drop features and functions, and even corporate decisions such as the supporting of hard forks of tokens, handling of extreme situations, etc. Every token holder has the same rights, those with more tokens will have a bigger influence.

Evameta Finance governance is a progressive process that ultimately transfers 100% ownership and control to Evameta token holders. Understanding the shortcomings of the "Day-1-DAO", the strategy retains the appropriate controls for the team until the community and token are mature and is prepared to govern itself.

For any governance decision, EVAM holders can initiate a referendum by submitting a signed on-chain proposal. Once at least 1% of the total supply of EVAM token holders support the proposal, a 14-day referendum period will commence. During this time, EVAM holders do not need to lock their tokens and can simply submit their vote on-chain.

Their voting power, which is proportional to their token balance, will be calculated at the end of the 14-day period. After the voting window passes, the proposal will only be accepted if a majority of voting power approves the proposal and if more than a predetermined percentage of the total token supply has participated in the election