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Chapter 13 - 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.