Governance

The governance framework of MySocial is designed to foster a decentralized, transparent, and effective decision-making process. This structure empowers community members to actively participate in shaping the platform’s future, ensuring that MySocial evolves in line with the collective interests of its users.

Governance Structure

MySocial’s governance model is inspired by the United States government system, featuring a bicameral approach:

1. Delegate Council: Comprising 8 elected delegates, this council reviews and approves proposals before they are presented to the broader community.

2. Community Assembly: Consisting of all MySocial token holders, the assembly votes on proposals approved by the Delegate Council.

Proposal Submission and Categories Proposals can be submitted by any community member and should fall into one of the following categories:

• Technical Proposals: Suggestions for changes or upgrades to the MySocial protocol or system architecture.

• Parameter Proposals: Recommendations for adjusting system parameters, such as pricing models or expiration terms.

• Financial Proposals: Plans for the allocation of MySocial resources, including budget approvals and funding initiatives.

• Governance Proposals: Amendments to the governance structure or procedural rules.

Voting Process

Once a proposal is approved by the Delegate Council, it proceeds to the Community Assembly for voting. Key aspects of the voting process include:

• Quorum: A minimum of 1% of the total MySocial tokens must participate for a vote to be valid.

• Voting Period: The duration for voting is flexible, ranging from 24 hours to 14 days, depending on the proposal’s nature.

• Majority Requirements:

• Simple Majority: Over 50% approval for standard proposals.

• Supermajority: A two-thirds majority (66%) for significant changes, such as a major protocol update.

Implementation of Approved Proposals

Approved proposals are implemented according to a predefined timeline, with designated individuals or teams responsible for execution. This ensures accountability and clarity in the implementation process.

Dispute Resolution If disagreements arise regarding proposal outcomes or implementations, community members can file an appeal through the MySocial forum. A council of community members will review and address these appeals to maintain fairness and transparency.

Amendments to Governance Rules

Changes to the governance framework can be proposed by any member and require a two-thirds majority vote for approval. This process ensures that significant modifications reflect broad community consensus.

By adhering to this governance framework, MySocial ensures that all decisions are made democratically, transparently, and in the best interests of the community. We encourage all members to actively participate in shaping the future of MySocial.