Setting the Snapshot Quorum

Snapshot voting systems include an option to set a quorum. A quorum is a minimum number of votes that are required for a proposal to pass (regardless of whether the votes are "For", "Against", or "Abstain"). If this proposal passes, then the quorum for proposals will officially be set to 671,308,688 WLD (35% of the total supply).

Currently, the only requirement for a proposal to pass is that it has a "majority vote." Adding a quorum will act as a safety mechanism that will ensure that proposals cannot be passed without a reasonable amount of voting participation by holders.

Passed Proposal Example

For - 300M Against - 200M Abstain - 450M

Total Votes: 950M / 671M

Against Proposal Example

For - 200M Against - 300M Abstain - 450M

Total Votes: 950M / 671M

Rejected Proposal Example (Not Enough Votes)

For - 200M Against - 100M Abstain - 200M

Total Votes: 500M / 671M