Community Governance Policy

Governance Structure:

Community Governance consists of three parts:

  • Portals: You can access details on the Wiki community governance page through the official website, APP, and web browser.

  • Forum: On the forum, users can discuss the content of the proposal, the results of the proposal, and the implementation details.

  • snapshot platform: users will use the governance tool Snapshot to post proposals and vote.

gZKS Rights and Interests :

gZKS Rights: 1. Users can participate in community governance with gZKS, including the right to propose and vote. 2. Users with 50,000 or more gZKS can initiate proposals. 3. There is no threshold for participation in voting, and votes are counted by the number of gZKS, with a minimum of 1 gZKS required for a single vote.

gZKS Generation rules : gZKS is generated by a 360-day ZKS Proof-of-Staking contract. You can get gZKS only when the remaining Proof-of-Staking time of the 360-day lock-up contract is greater than or equal to 180 days. When the remaining time of the existing 360-day PoS mining activity is less than 180 days,ZKSwap team will open a new 360-day PoS contract. By then, users can lock ZKS in the new 360-day PoS contract to obtain gZKS.

gZKS Issuance rules :Users who participate in the ZKS 360-day PoS mining will receive the corresponding amount of gZKS airdrops at the L2 address weekly. The amount of gZKS obtained is determined by the amount and time of the user's actual locked ZKS. Users who lock up for 360 days can get the same amount of gZKS for locked ZKS, which will decrease linearly with the actual PoS time to half the amount of gZKS (half the amount of gZKS can be obtained after 180 days of lock up, but not for less than 180 days. To obtain gZKS, you need to participate in the new 360-day PoS and mining activity).

For example: when there remain 270 days till the 360-day PoS contract expires, if the user chooses to lock 100 ZKS, the corresponding 75 gZKS can be obtained in the L2 account.

gZKS Expiration:The valid period of gZKS generated by the existing ZKS360-day PoS contract is 720 days.

Governance Process

1.Community Discussion:Users can publish community governance-related posts in the corresponding section of the forum to discuss, and generate preliminary ideas and opinions on the proposal.

Forum Link: https://forum.zks.org

2.Initiating a proposal:The initiator needs to pledges 50000 gZKS on the snapshot to initiate a proposal.

3.Review on the Snapshot ZKSwap governance page: we will publish links to the Snapshot page on the ZKSwap forum once the gZKS is minted.

Snapshot governance link: https://snapshot.org/#/gzks.eth

4.Voting:Any gZKS holder can vote on the snapshot proposal voting page. The process is carried out on-chain to ensure openness and transparency.

5.Result announcement:ZKSwap forum administrators will publish the results of valid proposals in the corresponding sections of the forum, and synchronize the implementation plan and progress.

Proposals:

The proposal can be passed as long as it has enough net votes to support it. Including but not limited to the following scope:

1.Token Listing: Proposer can propose to officially launch any ERC20 token or trading pair on ZKSwap. Once passed, ZKSwap will complete the listing or add trading pairs within 7 days after the proposal is passed.

Pass conditions: 500 thousand gZKS

2.Airdrop: Proposers can propose for airdrops to any DEFI project user with certain rules. Once passed, the official will airdrop a certain amount of ZKS to the Layer2 addresses of eligible users to incentivize users to use ZKSwap. The amount of subsidy is determined by Gas on the ETH chain during the airdrop (subsidies for deposit fees).

Pass conditions: 1 million gZKS

3.Liquid mining activities: Proposers can propose to launch liquid mining activities of any currency pair. Once passed, ZKSwap will add the currency pair in the next liquidity mining activities, and the mining rewards will be determined based on the average revenue of the platform's liquidity mining.。

Pass conditions: 1 million gZKS

4.Modify governance rules:Proposers can also propose to make amendments to adjust the community governance policies and approval threshold. ZKSwap will amend the community governance rules promptly.

Pass conditions: 3 million gZKS

5.Parameter adjustments such as fee rates: Proposers can propose to modify the fee rate parameters set by the platform, such as the liquidity fee that needs to be provided for exchange, the withdrawal fee, daily free transfers, the number of times to remove/add liquidity for free and the amount charged once free limits have been reached, etc. Once passed, ZKSwap will optimize the relevant rates in the next iteration.

Passing conditions: 5 million gZKS

6.Modification of economic model parameters: Proposers can propose to modify the ZKS token release economic model, including but not limited to various types of mining distribution, output halving over time, and the repurchase and destruction of ZKS with handling fees. Once passed, ZKSwap will make relevant adjustments in the next version or event while announcing the progress in time.

Pass conditions: 10 million gZKS

7.Future technical roadmap: Uers can propose future technical route development and modify the ZKSwap technical roadmap, including but not limited to NFT launching and mintage, Layer2 cross-chain support, EVM support, and Layer2 ecosystem expansion, etc. Once passed, the ZKSwap team will adjust the technical route and invest in R&D in a timely manner and regularly publicize the progress.

Pass conditions: 10 million gZKS