How SX Network governance is structured
One of the most exciting facets of a community-owned sports betting platform is the idea of a community-managed treasury. This treasury will be in charge of accelerating the SX ecosystem through community incentives (e.g. liquidity mining), marketing initiatives (e.g. betting tournaments), and other strategic partnerships.
SX holders are responsible for ensuring that governance decisions are made in compliance with applicable laws and regulations. Governance proposals should factor in legal and regulatory concerns before implementation. In order to vote on any proposal, SX tokens must be staked.
Upon inception, SX Network governance will utilize voting system for the SX stakers to vote on parameter or treasury proposals.
Governance parameters are initiated with the following parameters:
- 0.01% of SX total supply (100,000 SX) to submit a governance proposal
- 20% of staked SX required to vote ’yes’ to reach quorum
- Simple majority (50% + 1) of total votes on all governance decisions to pass
- 5-day voting period
- 2-day time lock delay on execution (i.e. implemented 48 hours from passing)
Over time, SX Network will increasingly shift towards a market-based governance system.