How to get Voting Power in the Magic Square DAO?
Last updated
Was this helpful?
Last updated
Was this helpful?
To participate in governance within the , you must hold or stake SQR tokens. These tokens are not only your key to becoming involved but also determine the level of influence you have in the decision-making process. The more SQR tokens you hold and stake, the greater your impact will be on shaping the future of the platform.
Through this system, every community member has a voice that is proportional to their commitment to the ecosystem. By holding and staking SQR tokens, you can propose new ideas, vote on important decisions, and help steer the direction of Magic Square. This approach ensures that the platform evolves in a way that truly reflects the collective interests and efforts of our community.
Your voting power within the DAO, known as SQRv (DAO Voting Power Points), is calculated based on the following components:
Wallet Holdings - Base Voting Power (BVP): Your Base Voting Power (BVP) is directly proportional to the number of SQR tokens you hold in your wallet. The more tokens you hold, the higher your BVP will be.
Staked Tokens - Staked Voting Power (SVP): When you stake your SQR tokens, you earn additional voting power based on the duration of your stake. The longer you stake your tokens, the greater your Staked Voting Power (SVP) will be. The multipliers for staking are as follows:
30 days: Tokens Staked * 1.1
60 days: Tokens Staked * 1.2
90 days: Tokens Staked * 1.3
180 days: Tokens Staked * 1.5
360 days: Tokens Staked * 2.0
Total Staked Voting Power (TSVP): To determine your total influence from staked tokens, sum all your calculated Staked Voting Powers:
TSVP = Sum of all calculated SVPs
Total Voting Power (TVP): Your overall voting power within the Magic Square DAO is the combination of your Base Voting Power and your Total Staked Voting Power. The formula for calculating your Total Voting Power (TVP) is as follows:
TVP = BVP + TSVP (SQRv Points)
This formula determines your influence in the DAO’s decision-making process, with higher TVP (SQRv Points) granting you a more significant voice in shaping the future of Magic Square.