ICHI Governance
Governing the ICHI DAO
Last updated
Governing the ICHI DAO
Last updated
ICHI is a DAO (Decentralized Autonomous Organization) governed by the community of ICHI token stakers.
Proposals on everything from halvings to partnerships are submitted to the community via Telegram and voting is done on Snapshot.
ICHI is the governance token of the ichi.org community and platform. It is hard capped at 5M tokens. Each ICHI is a vote on halvings, partnership proposals, allowed oneToken components, oneToken community additions, etc. in exchange for protocol governance rewards.
oneTokens are the governance tokens of each specific oneToken system. Learn more: oneToken Governance
Staking ICHI tokens gives stakers:
ICHIpowah to propose and vote on ICHI governance proposals to determine future features and/or parameters of the ICHI platform as well as protocol improvements, with voting weight calculated in proportion to the tokens staked (the right to vote is restricted solely to voting on features of the ICHI platform; the right to vote does not entitle ICHI holders to vote on the operation and management of any legal entity, their affiliates, or their assets or the disposition of such assets to token holders, and does not constitute any equity interest in any of these entities). The arrangement is not intended to be any form of joint venture or partnership.
Rewards for participating in governance proposals. It is the community members which would drive development of the ICHI platform, so token incentives would need to be distributed to compensate them for their time, expertise and effort. Only users who have participated in submission of proposals, commenting, reviewing and/or voting will be entitled to receive ICHI token governance rewards.
Stake ICHI here by clicking the ICHI dropdown and selecting "Stake".
In order to participate in ICHI governance, which includes proposing community initiatives and voting on others' proposals, you must have ICHIpowah. ICHIpowah is voting power within the ICHI community. It is calculated by the number of ICHI tokens staked. xICHI is minted when you stake ICHI.
xICHI holders can be rewarded by oneToken treasuries by staking ICHI. oneToken treasuries pay 2% management fee and 20% performance reward directly to xICHI. There is no specified schedule for when payments are made out to xICHI so an APY will only be available in hindsight. The best way to avoid missing a payment is to keep your ICHI staked in xICHI.
Rewards to xICHI holders are announced via Telegram and can be found in the Week In Review (WIR) posts on ICHI's Medium.
