On Engage, governance of a blockchain system involves its users in decision-making processes, voting mechanisms, and rules that allow token holders to participate in shaping the direction, protocols, and policies of the network.
With Engage, token holders can collectively:
Govern the blockchain
Establish consensus
Propose and implement changes
Resolve conflicts
Ensure transparent and decentralized network operations
How governance votes work
Each governance vote has a title, description, snapshot date, and end date.
Title: Short description of what the vote is about
Description: Longer description of the vote, as well as background information, thresholds for passing/rejecting the vote, etc. Can be seen when clicking on the vote.
Snapshot date: Date at which the snapshot of your tokens will be taken. The amount of tokens in your wallet on this date determines your voting power. Tokens must be held in your wallet (balances on an exchange are not taken into account)
End date: The end date of the vote. After this date the vote concludes and will get passed/rejected based on the previously set criteria.