Governance

Curate Governance is about giving power and diffraction to our community. Our Community Governance Reserve holds 10,000,000 XCUR tokens which will be used to fund successful proposals. 

Governance will be primarily launching on the mobile app in the first quarter of 2023, with plans to extend to our desktop web app later in 2023. The vote counting mechanism is recorded on-chain through the amount of XCUR each user holds in-app. For example, if you hold 50,000 XCUR, you will have 50,000 voting power. The voting limit for each account will be set at 700,000 XCUR which is the Diamond Tier entry. 

There will only be 1 active proposal at any one time and each proposal will run for 15 days. To avoid double counting and users trying to swing votes with multiple accounts, Curate has developed a snapshot to be taken at the exact time and date of each proposal going live. This snapshot will record users’ XCUR holdings and prevent further voting power with additional XCUR deposited after the proposal launch.  

All users who hold XCUR in-app can vote and users who are Silver Tier and above can create and submit proposals. To encourage well-thought-out proposals, a $50 XCUR fee is associated with each submission. Accepted proposals will be refunded their $50 fee and be rewarded $50 in XCUR from the Community Governance Reserve. Rejected proposals will have their $50 in XCUR transferred into the Community Governance Reserve.

*Please note, a maximum of 3 proposals will be selected by the Curate team for the upcoming quarter.

Voting Options

Each proposal will contain 2 or more options for the community to vote on.

Options could include:

  • Yes
  • No
  • Abstain, or
  • A more specific option to vote on such as ‘Marketing Campaign’ or ‘Exchange Listing’

Please note: If a user chooses to Abstain vote, this will signify a protest of the proposal. If Abstain receives 60% of the votes, Curate will retract the proposal and discuss it with the community through live communication channels such as Twitter Spaces or Telegram AMAs.

Proposal Timeline

Stage One

The Governance timeline and workflows are broken down into a step-based process that allows our community to see the various steps that a proposal will undergo.
Proposals will navigate through a concept review before being accepted and set to ‘Pending’ in-app. All accepted proposals will undergo a detailed review whereby Curate and the proposer will add/edit/amend details surrounding the proposal before it goes live; a start date will also be assigned at this stage.

Stage Two

Once the proposal is live, the votes will be recorded and upon ending, the winning option will be shown.

Some winning proposals such as a Marketing Campaign will have funds transferred from the Community Governance Reserve into a new wallet that will be solely used for that proposal.

The wallet address will be publicly provided and transaction IDs will be recorded in the ‘Reporting’ section of each in-app proposal.

Stage Three

The Governance Workflow provides insight into the maximum time allocation associated with each proposal step. Please note that some proposals such as giveaways or token burns will not take as long to enact. 
All wallet addresses and thus transactions will be visible for the community to review, track and question if need be. The ‘Reporting’ section will be used to update the community on each proposal with key information, analytics, and transaction IDs for full transparency.

Governance Timeline And Workflow

Sample Proposals

Each proposal will contain: 

  • Status
  • Type
  • Date
  • Author
  • Title 
  • Description
  • Links (optional)
  • XCUR Quantity
  • Options
  • Option descriptions 
  • Funding Source Information
  • Funding Administration Information
  • Funds Usage Information
  • Reporting Information and Data

Proposal 1

Proposal ID:  001

Start Date:  25th January 2023

Title:  Increase DEX Liquidity

Description:  Provide liquidity to the chosen DEX. This will involve an equal amount of XCUR/USDT from the allocation.

Amount: 500,000 XCUR

Option 1: Uniswap V3Option 2: PancakeswapOption 3: Apeswap
Option Description: 
The ERC20 token allocation will be used to increase the liquidity on Uniswap V3. This will be approximately 250,000 XCUR and 250,000 XCUR worth of USDT.  		Option Description: 
The BEP20 token allocation will be used to increase the liquidity on Pancakeswap. This will be approximately 250,000 XCUR and 250,000 XCUR worth of USDT.  		Option Description: 
The BEP20 token allocation will be used to increase the liquidity on Apeswap. This will be approximately 250,000 XCUR and 250,000 XCUR worth of USDT.

Proposal 2

Proposal ID:  002

Start Date:  TBA

Title:  Project Funding

Description:  There are three options that you can vote on for Curate to implement. These involve assigning funds towards – 1) Development for the Varasity ($VRA) integration, 2) A new marketing campaign or 3) A new exchange listing. 

Amount:   100,000 XCUR

Option 1: Development for the Varasity technology integration with CurateOption 2: New Marketing CampaignOption 3: New Exchange Listing
Option Description: 
The funds will help cover some of the final development costs done by Curate dev team. Curate will then see VRA’s Proof of View (PoV) technology working on Curate NFT Marketplace.
Option Description: 
The funds will be allocated to developing a new marketing campaign surrounding Curate’s NFT Marketplace, Governance, Upcoming Game, and the exciting  General Marketplace 2.0.
Option Description: 
Attaining top-tier exchange listings can be expensive. The funds will be allocated into a separate public wallet specifically reserved for new exchange listings in the future.

Proposal 3

Proposal ID: 003

Start Date:  TBA

Title:  General Marketplace Development 

Description:  The allocation of funds will employ an increased allocation of dev time to prioritise the ‘Phase 1’ development of our new and improved General Marketplace. This will involve the key integration of our merchandise supplier onto our platform that will allow the buying, selling, and shipping of physical goods using XCUR. 

Amount:  200,000 XCUR

Option 1: YesOption 2: NoOption 3: Abstain
Option Description: 
The funds will go towards increasing dev time to fast-track the ‘Phase 1’ development of our General Marketplace. Once complete, users will be able to buy, sell and ship physical goods from Curate using XCUR.  This foundation will then usher in Phase 2 of our General Marketplace; more information to come.		Option Description: 
If chosen, the funds will remain locked in the Community Governance Reserve and be utilised for a future proposal. 		Option Description: 
Abstain from voting.

Governance V2 Development

Ongoing development will continue to improve and shape our Governance offering to our community and holders.

We are planning numerous Governance developments that will take place in the upcoming quarters. The developments will evolve as feedback is gathered from our community.    

Developments may include: 

1. Voting Audits – To provide transparency around who and how many votes were recorded. Please note, the Curate team or any VCs will not be allowed to vote. 

3. Criticality of Proposal – This will be an added option for Diamond tiers to select depending on the proposal – an airdrop would be more manageable compared to a marketing proposal.

2. Stake Boosting NFT – To reward our users who invested in Stake Boost NFTs, we are ‘exploring’ the possibility of expanding multiplier utility to Governance voting.

4. Reporting dashboard – This would provide our community the ability to track what, where, and how the tokens have been distributed for each proposal.

FAQs

  • Why was my proposal rejected?

    A few key reasons for why a proposal would be rejected could be that Curate has hit the maximum number of proposals per quarter (Max 3), the proposal is no longer relevant or the total amount of XCUR exceeds the quarterly maximum.

  • How long will it take for my proposal to go live? 

    This depends on the complexity of the proposal. If the proposal is a simple fact of moving funds, the review process will be short; however, if the proposal is more complex such as a marketing campaign, it can take up to 30 days to progress through the review process before going live.

  • What are some examples of inappropriate proposals that the Team will automatically reject and will not bring to a vote? Will these types of team-rejected proposals be shared with the community? 

    Yes, all proposals will be shared with the community. Proposals will display a ‘Rejected’ status and be given a reason in the ‘Reporting’ section. An example of a proposal that will be rejected could but is not limited to:

    • Assigning a large amount of XCUR without giving an adequate description, information, or voting options. 
    • A proposal lacking information or does not make sense
    • Providing too few options.
    • Does not conform with our Terms & Conditions
  • I submitted my proposal but I changed my mind or I want to make an edit; is that possible; if so, how much time do I have?

    Yes, it is possible to make amendments and edits to a new or pending proposal. Please contact support@curate.style with your account email address so our team can verify you are the proposal author. Likewise, if the Curate team needs to add and edit information, we will contact you to collaborate. You can request changes at any point before the start date of the proposal.

  • Will my proposal submission be anonymous?

    The only thing that will display for the community to view is your Curate username. No sensitive information about you will be tied to the proposal. 

  • Can I deposit more XCUR during the proposal is live?

    Yes, you can deposit more XCUR into your in-app wallet but any XCUR deposited after the snapshot (start date & time of a proposal), cannot be used for the 15 days runtime. To vote with your increased XCUR balance, you will need to wait for the next proposal to commence.

  • Can I withdraw my XCUR during or after voting?

    Yes, our voting mechanism currently requires no lock on funds even if you have voted and the proposal is still running; your votes will still be counted.

  • If my proposal is rejected, will I get my XCUR refunded?

    If your proposal is rejected, your XCUR will go into the community governance reserve. Your XCUR will ONLY be refunded if your proposal is accepted.

  • Why does the proposal cost XCUR in order to submit?

    We want all proposals to be well thought through and attaching a cost aspect will hopefully limit the number of times a user can propose. Ideally, we would like a healthy number of proposals to review each quarter.