Made with Huly^®

Article III. Decision-Making and Voting Procedures

Section 1. Voting Rights

All holders of Huly tokens (eHULY and nHULY) shall have voting rights proportional to their token holdings.
One token shall equal one vote, with no distinction between eHULY and nHULY for voting purposes.
Tokens must be held in a wallet address for at least seven days prior to a vote to be eligible, preventing last-minute vote manipulation.

Any token holder may submit proposals for consideration by the DAO.
Proposals must include:
1. A clear title and description of the proposed action or change.
2. Rationale for the proposal.
3. Expected impact on the Huly ecosystem.
4. Implementation plan and timeline.
5. Any associated costs or resource requirements.
To prevent spam, proposal submissions may require a minimum token holding or a small token deposit, which is refundable if the proposal reaches the voting stage.

Proposals shall be categorized into the following types, each with specific voting requirements:

Standard Proposals: General operational decisions, requiring a simple majority (>50%) to pass.
Major Proposals: Significant changes to the ecosystem or Foundation structure, requiring a 2/3 majority to pass.
Emergency Proposals: Time-sensitive decisions to address critical issues, requiring a 3/4 majority to pass and implemented with a shortened voting period.

All voting shall be conducted on-chain using smart contracts to ensure transparency and immutability.
Each proposal shall have a discussion period of at least 7 days before the voting period begins.
The voting period shall last for 5 days for standard proposals, 10 days for major proposals, and 48 hours for emergency proposals.
Votes are final once cast and cannot be changed during the voting period.
Voting options shall include “For,” “Against,” and “Abstain.”

A minimum quorum of 10% of all circulating tokens must participate in a vote for it to be considered valid.
Staked coins can participate in voting.
Tokens in Huly Foundation treasure are not counted as circulated tokens.
Tokens locked for bridging, tokens allocated for distribution, and tokens allocated for staking rewards are not counted as circulating tokens.
If quorum is not reached, the proposal shall be considered rejected and may be resubmitted after a 30-day cooling-off period.

Votes shall be counted automatically by smart contracts at the end of the voting period.
Results shall be published immediately on-chain and through all official Foundation communication channels.
The outcome of the vote shall be determined based on the majority requirements specified for each proposal type in Section 3.

Approved proposals shall be implemented according to the timeline specified in the proposal.
For on-chain actions, implementation shall be automatic through smart contracts.
For off-chain actions, the Secretary shall be responsible for execution, reporting progress regularly to the community.

Token holders may delegate their voting power to other addresses if they choose not to vote directly.
Delegation must be done through a specific smart contract function before the voting period begins.
Delegated voting power can be reclaimed by the token holder at any time.
Tokens in Huly Foundation’s treasure, tokens locked for distribution, tokens locked for bridging, and tokens locked for staking rewards are not eligible for voting and delegation of voting power.

All voting history shall be permanently recorded on-chain and publicly accessible.
The Foundation shall maintain a user-friendly interface for viewing proposal details, voting results, and individual voting records.

The DAO shall regularly review and assess the effectiveness of these voting procedures.
Proposals to improve the voting system shall be encouraged and given priority in the proposal queue.