MCL Governance Guidelines

The journey towards decentralization continues with the release of bMXX Governance!

The decision-making power rests with the community now, so whether these proposals go through is up to you!

We invite you to actively participate in the governance of the Multiplier bMXX Protocols!

How to Submit Proposal

Step 1
Users are strongly advised to first discuss potential proposals in our Discord Governance forum where governance-related topics and potential proposals are discussed (https://discord.gg/wevuCn3QPb).

Moderators will then filter and approve proposals. Multiplier will advise on the technical feasibility of proposals.

Step 2
Once proposals are approved, Multiplier will continue to create #MIP channels in Discord for the discussion of each proposal and assign an MIP number.

Submit your proposal along with assigned MIP number and topic link in Snapshot by staking at least 1,000 bMXX of which you will receive 1,000 stbMXX. The voting period must be at least 14 days.

Rules of Creating a Proposal

1. Proposal MUST have a proper title to reveal the core idea.

2. Proposal MUST begin with Summary section (in short, please).

3. Proposal MUST have Action Item section for explaining each voting option explicitly.

4. Proposal SHOULD use “For” / “Against” as options in binary decision.

5. Proposal SHOULD provide “at least 2” as option in multiple choice.

6. Proposal CAN have Background, Motivation, Specification or any other aspect to support the idea.

7. Users MUST have at least 1,000 stbMXX to create a proposal.

8. Users MUST use the words “MIP-<number>” in front of each proposal.
E.g. “MIP-12 Increase voting percentage for approval”. Moderators will assign the MIP number once the proposal is approved.

How to Create Proposal

Step 1: Click on “Governance” in the MCL platform, or https://voting-bmxx.multiplier.finance/

Step 2: Connect Wallet

Step 3: Click on “New Proposal” to create a proposal.

Step 4: Click “Publish”

How to Vote

The voting period for each proposal minimum 14 days. After the voting period has closed, we will share the results!

Feel free to participate in our Discord Governance forum where governance-related topics and potential proposals are discussed (https://discord.gg/wevuCn3QPb).

Rules of Voting

  1. Users MUST have stbMXX to vote (no minimum)

2. Voting power WILL be determined by the amount of stbMXX held at time of snapshot. bMXX bought and staked after the snapshot do not qualify.

3. Users CAN vote any number of times — only the last vote counts.

4. Simple majority WILL determine the outcome of the proposal.

5. Official wallets by Multiplier Finance are not eligible. E.g. Holding Wallet and Loan Wallet are not eligible.

6. bMXX MUST be staked in governance module at time of snapshot qualify.

How to Vote

Step 1: Select the proposal you would like to vote

Step 2: Select your choices. And click “Vote” to confirm

Step 3: Confirm your vote

You have successfully voted!

Multiplier reserves the right to reject any or all Proposals if they are deemed not to be in alignment with Multiplier’s direction and/or are technically unfeasible.

Untold Multiplying