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Limitations

Ticket members with voting power
There are only a few limitations associated with Stitchia's governance process.

1. Voting limitation

No other than StitchiaDAO members with Genesis NFT ticket memberships and STITCH token holders (locked for at least 1 year) can vote in terms of DAO governance processes and for project realization.

2. Number of votes requirement

After a project is pre-approved (basic info checked and validated), it would be listed on the Stitchia Network for community voting. The vote shall be considered successful under two conditions:
  • at least 10% of the 1,111 Genesis ticket holders are actively voting for the pre-approved project, AND
  • any number of holders of a min of 10,000 staked STITCH tokens are actively voting for the pre-approved project, AND
  • the project must collect at least 51% positive votes of the actively participated members (from both Genesis ticket holders and STITCH tokens owners).

3. Senior Voting Power

What is Senior Voting power (SVP)? This is an exclusive voting power only to the Genesis ticket holders and 1 SVP = 100 locked STITCH tokens, but also there will be voting only for the ticket holders. (TBD) Every Genesis ticket tier gives a different SVP. It is allocated as follows:
  • ​Tailor (Diamond) - StitchiaDAO Governance through Senior Voting Power – 100 SVP = 10 000 STITCH Token Holder as a voting power;
  • ​Maker (Gold) - StitchiaDAO Governance through Senior Voting Power – 50 SVP = 5 000 STITCH Token Holder as a voting power;
  • ​Cutter (Silver) - StitchiaDAO Governance through Senior Voting Power – 25 SVP = 2 500 STITCH Token.