eckoGOV Devnet Testing

eckoGOV Devnet Testing

As we move closer to our mainnet launch, the importance of refining our system through rigorous testing cannot be overstated. Our Devnet Testing Day offers a snapshot of this journey. Scheduled to run from the 23rd October onwards, this provides an invaluable opportunity for participants to engage with our platform's foundational structure.

To participate: Send us a message on our social accounts highlighting your interest. We'll select a few participants across our channels.

To aid users, we've prepared a step-by-step guide that breaks down the Devnet and getting setup. But it's essential to remember: this Devnet launch is an on-chain precursor, and basic version. When we transition to the mainnet, a much more comprehensive platform will be live.

While KYC procedures are in the decentralized ecosystem, we've simplified the process for this testing phase. Instead, participants will receive a placeholder document for KYC.

Role Info

eckoMEMBER (Level 1) - sKDX Holders

  • Role: Basic level users instrumental in decision-making processes
  • Verified/Unverified: Connecting User Discord to verify
  • Responsibilities: Voting on active proposals and participating in governance discussions
  • KYC Requirement: No

eckoLEAD (Level 2)

  • Role: Advanced role users who serve as advisors and moderators
  • Responsibilities: Submitting proposals.
  • KYC Requirement: Yes

eckoCORE (Level 3)

  • Role: Custodians of the DAO who manage critical resources and oversee operations
  • Responsibilities: Submitting proposals, Vetoing malicious proposals.
  • KYC Requirement: Yes

1 Hour Voting Process Overview:

The following cycle is every hour and is an example of the structure

Proposal Submission (00:00-00:08)

  • eckoLEAD and eckoCORE members can submit one proposal each per epoch using a standard template.
  • Only binary-choice (YES/NO) proposals are accepted.
  • Proposers cannot vote on their own proposals.

Review Period (00:08-00:18)

  • eckoCORE members review. Proposals can be accepted, vetoed, or remain pending. Veto requires over 50% eckoCORE participation.

Discussion (00:18-00:23)

  • Discuss proposals for clarity and understanding on the DAO website's Discourse forum.

Voting  (00:23-00:58)

  • Excluding the proposer, eligible participants vote based on their DevNet eckoDEX Governance Mining voting power.
  • Proposals need a simple majority for approval with a quorum of at least 5% of the total voting power.
  • Voting takes place on the eckoGOV portal for transparency.

Rank Update  (00:58-00:00)

  • Accessing Lead/Core roles requires eckoWALLET, Discord authentication, and a completed KYC process.
  • Role assignments (eckoLEAD) are based on Voting Power originally.
  • A member can have only one KYC role per epoch.
  • Snapshot of members' voting power.
  • Role assignments updated based on the snapshot.
  • eckoLEAD roles can change if a new member applying for the role has higher voting power than the lowest current eckoLEAD member.