Governance Voting System

This page will describe the current SPS governance voting system that is in place as of the time of writing, which is around July of 2023. This system will continue to be improved and further decentralized over time as more of the infrastructure for the project is ready, most notably the SPS Chain and its Delegated Proof of Stake consensus mechanism which you can read more about in the SPS Chain section of this document.

Anyone is free to submit a governance proposal to a vote of all staked SPS token holders by publishing a post detailing their proposal to the Hive blockchain and including #spsproposal as the first tag on the post. Additionally, there is a fee for submitting a proposal of 100k DEC tokens. The fee must be paid by burning the tokens (transferring them to the "null" account), and the ID of the burn transaction on the Hive blockchain must be included by itself as the first line of the proposal post. Please note that the DEC burn transaction must have been made by the same account from which the proposal post is published.