Introduction to Amp Governance

Amp Governance uses off-chain, gasless signature voting via Snapshot. Amp users have the opportunity to vote on proposals presented by the community, including: future grant recipients, partnerships, cross-chain integrations, DeFi collaborations, and more. Note, with off-chain governance, votes serve as signaling rather than binding resolutions. The Amp token contract itself is immutable, without administrative functionality. In the first phase of governance, the token requirements to initiate a vote will be substantial to prevent spam and limit administrative burden. Gradually, as the community grows and matures, the token thresholds are intended to be modified via governance for more broad participation.

Process and requirements:

  1. Introducing a proposal. Proposals are first introduced publicly via the forum for community discussion and feedback. Proposals must be live on the forum for a minimum of 48 hours prior to proceeding with a submission. Anyone can create a proposal, regardless of Amp token ownership.

  2. Submitting a proposal. After the requisite introduction period, proposals can be submitted to Snapshot for voting. For the proposal to be valid, the submitter must hold at least 1,000,000,000 AMP (1% of total supply). If you do not possess the required AMP to submit a proposal it is encouraged to solicit support on the forum, and others may submit the proposal on your behalf.

  3. Voting and quorum. For a vote to be successful, a quorum of 5,000,000,000 AMP (5% of total token supply) must be achieved, and a vote must be active for a minimum of 48 hours. Proposals are passed by a simple majority.

Amp tokens must be held directly, or staked in approved collateral contracts to be eligible for voting and/or submitting proposals. New collateral managers can be approved via the governance process as the community deems appropriate.

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I’m not sure if this is the right thread to ask this question on–To be given voting power on snapshot, we are supposed to connect to a wallet with Amp in it. How can we get voting power if our Amp Tokens are in an exchange or currently staked?

I realise this is more of a snapshot question than it is an Amp Governance question but will appreciate any insight on how others have been voting. I’m new to using snapshot.

Hey Jen!

You can currently vote with staked Amp or Amp in a non-custodial wallet. If your Amp is currently at a custodial wallet/exchange (e.g. Coinbase) we cannot currently count that Amp for vote, but are working on ways to incorporate that in the future.

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Ah that makes sense. Thank you for the response!

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When will any of the forums be open to posting threads? Most notably the Idea forum, which seems to be for general discussion and idea collaboration.

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Hey @Starvin15 the forum should be open for posting now.

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@Chris Confirmed, the forum is now open for new topics. Thanks!

Seems that since the inception there were no proposal, it does seems to anyone that this project is HIGHLY centralized and the real participation of users it’s only limited to hold / stake and believe that actually the team is gonna deliver something?