FAQ
Frequently Asked Questions
What is Daocracy?
Daocracy is the most morally evolved organizational system available to our business civilization in terms of fairness, isonomy, freedom of coercion, transparency, auditability, and now with Votility, accountability.
Why do I need incentivized governance?
The engagement in traditional DAOs is too low or too uneven/centralized.
How can I be sure that the best decisions will be made by the community?
Votility uses a game theory principle known as the Focal Point Principle to reward only those participants who contributed to the winning decision. This ensures that everyone is incentivized to vote on the proposals that they think are actually the best ideas, not just the most popular ones.
Why should I use Votility?
By using incentivized voting pools, you can engage your community to vote for the best proposals while simultaneously amassing token rewards.
How to use Votility?
You have to be a holder and provide liquidity with VOTY tokens to create a voting pool bound to a proposal. After the pool creation, users can engage with it in the same way they would with any farming protocol.
What do you mean by β€˜skin in the game’? Voters are only rewarded for picking the winning proposal. Also, voting power is increased the longer your users stake their tokens.
My token doesn't support Votility Protocol interface. Can I use the protocol?
Yes. Simply set the target contract to the 0x0 address. At the end of the process, you collect the result and do whatever is requested from your community.
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Last modified 2mo ago
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