Voting Mechanics
Mitosis employs a sophisticated voting mechanism designed to ensure fair representation and efficient decision-making across its multi-chain ecosystem. The key aspects of this system are:
Time-Weighted Average Balance (TWAB) Voting Power
Asset-Specific Voting Power
- Voting power is determined by the type of miAsset, not the chain where it's held.
- The total amount of a specific miAsset across all chains is used to calculate voting power.
Voting Power Calculation
- Uses the TWAB of miAsset balance over the previous 7 days.
- Measured in the same unit as the miAsset (e.g., 5.3 miweETH).
- Updated in real-time.
Redemption Impact
- Redeeming miAssets doesn't immediately affect voting power due to the 7-day TWAB calculation.
Cross-Chain Voting
- Holders can vote on proposals for any chain, regardless of where their miAssets are held.
- This allows for efficient liquidity allocation across the entire Mitosis ecosystem.
Voting Power in Practice
Using an example:
- Alice holds 150 miweETH (TWAB) across multiple chains.
- For a proposal seeking miweETH on any specific chain, Alice can use her full 150 miweETH voting power.
- This applies even if Alice doesn't hold any miAssets on the chain specified in the proposal.
Proposal Timelines
- The voting process is designed to be responsive yet secure, typically resolving in a 24 to 27-day period.
- This timeline balances the need for thorough vetting with the ability to quickly adapt to new opportunities and deployments.
Voting Flexibility
- Voters can allocate different percentages of their voting power to multiple proposals.
- Voting power can be redistributed at any time during ongoing votes.
This voting system ensures that all miAsset holders have a voice in governance decisions, regardless of which specific chains they use. It promotes a holistic approach to ecosystem management while maintaining the flexibility needed in a rapidly evolving multi-chain environment.