MDP - 7: Minimum Vote Threshold Percent

For a proposal to be considered passed, it must meet a minimum threshold for participation among Mikaboshi holders. Participation is determined by the percentage of the circulating supply of Mikaboshi which votes for the proposal. Circulating supply is determined by subtracting the amount of Mikaboshi held in the dead wallet, DAO wallet, and in Uniswap pools from the 1 trillion initial total supply of Mikaboshi. For instance, the circulating supply at the time of this proposal submission is estimated at 430 billion Mikaboshi (1 trillion - 425b in the dead wallet - 40b held by the DAO - 40B on Uniswap. Please be aware that these numbers will shift depending on the supply totals in each of these wallets as recorded by Etherscan).

The initial starting threshold for passage is 30% of the circulating supply. Using the figures quoted above as an example, this would mean that for a proposal to pass, a minimum of 129 billion Mikaboshi from the circulating supply must have participated in the vote. We have started from this 30% figure since it represents the amount of participation in our initial DAO votes. Therefore, for a proposal to be passed by Mikaboshi DAO it must 1) receive a 10% minimum majority (MDP-3), 2) be submitted by an authorized author (MDP-4), and have participation from the minimum amount of the circulating supply.

Additionally, the threshold for passage will increase biannually by 5% until a 51% threshold is reached. This means that every 6 months the threshold will increase (30% in June (1st) 2023, 35% in December (31st) 2023, 40% by June (1st) 2024, 45% by December (31st) 2024, 50% by June (1st) 2025, and a final of 51% December (31st) 2025). The reason for increasing threshold is to require more participation from DAO members, thus strengthening the community as we continue to grow.

However, should the threshold limit prove ineffective, a proposal may be submitted to revoke this system and bring the threshold back in line with actual participation numbers. In this case, two authorized authors may submit a joint proposal to revoke MDP-7 based on a simple 60% majority in favor of the vote.

To recap, if you vote "Yes", in favor of this proposal you are: 1) agreeing that the percentage of circulating supply determines participation, 2) that it is acceptable to start from 30%, 3) that it is acceptable for a 5% biannual increase up to 51%, and 4) that this proposal may be revoked down the road based on a simple 60% majority vote.

A "No" vote is against the proposal, and an "Other" is a request for further revision to this proposal.