YSL holders with a minimum balance of 250 YSL are able to create and vote on proposals.
The YSL token (BEP-20) will operate as the governance token for the YSL.IO ecosystem, enabling holders to vote on proposals that have been put forward by a member of the community or by the core team. YSL.IO will utiliseSnapshot to facilitate the voting process and YSL holders will need a minimum balance of 250 YSL to create and cast a vote, with the weight of a vote being dependent upon the holders YSL balance.
✅ How does Snapshot work?
When a new proposal is created, several core elements are provided for that proposal:
Snapshot Block - This is the BNB Chain block in which a single "snapshot" of YSL holdings will be captured. This snapshot captures each addresses voting power for a proposal at a single moment in time.
Start Time - This is the time at which voting commences. The Start Time may coincide with the Snapshot Block's timing, but not always.
End Time - This is when voting on a proposal concludes and a decision (or non-action) is derived from the results.
Proposals will have various statuses, each of which will dictate how you may interact with them. All of these statuses are dictated by the Start Time and End Time:
Pending - A proposal has been created, but the Start Time has not occurred yet. These proposals cannot be voted upon.
Active - A proposal that can be actively voted on. Active proposals are between their Start Time and End Time.
Closed - A proposal that is past its End Time and the result has been determined. Once a proposal is closed, it cannot be voted upon.
✅ How to Vote on a Proposal?
Visit the YSL.IO Snapshot page
Click on the "Connect wallet" button in the top right corner
Connect with the wallet provider where you hold your YSL balance
Click on the option you wish to vote for
Sign the message via your wallet and you're done!
✅ How to Create a Proposal?
Visit the YSL.IO Snapshot page and click on "Connect Wallet" in the top right corner
Connect with the wallet provider where you hold your YSL balance and click on “New Proposal”
Fill out the Title and provide a summary with details of your proposal.
Go to the “Actions” box and select "Single Choice Voting". Then enter the start date and the end date of your proposal.
Use the default Snapshot block number or you can change it according to your needs. The block number is the snapshot where the balance of voters will be counted.
Click on “Publish” and your proposal is created!
✅ Types of Proposals
Two types of proposals can be made: YSL.IO Team and Community. Team proposals are created by the YSL.IO team, and a community proposal can be submitted by any community member provided that they hold 250 YSL or more in a single wallet.
We will require a minimum quorum of 5% of the circulating YSL supply for a proposal’s results to be honoured. YSL that is held in wallets and staked in our YSL AceVault will count towards the "circulating" YSL supply for the purposes of the quorum calculation.
For a proposal to be honoured, the following three conditions must be met:
Condition 1: Supermajority of 50%+ voters in favour of one proposal option.
Condition 2: Simple majority of weighted votes in favour of one proposal option.
Condition 3: Final approval from the YSL.IO team in favour of one proposal option.
As per condition 3, the results of proposals that fall into the following categories may be honoured:
Influencer or social media marketing collaborations
Altruistic initiatives & campaigns
Platform feature implementation
New tokens or LP pairs to list
As per condition 3, the results of proposals that fall into the following categories may not be honoured as they could potentially disrupt the health and stability of our ecosystem: