YouSUI has introduced a unique Governance System that utilizes the staking of XUI tokens to empower users to participate in various aspects of governance. By staking XUI tokens, users trigger the issuance of wXUI tokens on the first day of each month, proportionate to their staked amount. These wXUI tokens can be used for voting and participation in the governance process. However, it’s important to note the following points regarding the use of wXUI tokens:
- wXUI tokens used in voting will be expended or consumed during the voting process.
- A snapshot is taken on the last day of each month to determine the distribution of wXUI tokens for that month.
- The exchange ratio between wXUI tokens and XUI tokens is not 1:1. They cannot be exchanged at a 1:1 ratio.
- Voting within the YouSUI Governance system is only possible using wXUI tokens.
The YouSUI Governance system offers three main types of voting and participation:
- User Voting for the NEXT Launchpad Project: Users are provided with comprehensive data and reports about each project, enabling them to make informed choices about the projects that will be featured on the next launchpad.
- Guiding the Development Team: Users have the power to influence the direction of the development team. They can shape the development of the NEXT Main-Network and encourage the team to create a more community-oriented project.
- Voting for the NEXT LP Pool: The community can vote to decide the NEXT LP Pool, and the project will provide the Swap Pool accordingly. This allows the community to determine a pool that fosters increased transactions and participation within YouSUI.
The voting principle within YouSUI is based on the 1 XUI = 1 VOTE principle. All staked XUI tokens are eligible for voting. The project team sets the voting date, and users are required to hold wXUI tokens before this date to participate in the voting process. By staking XUI tokens, users gain voting rights (wXUI) and can express their views on the project or community’s proposals.
