Zinnia governance, DAO voting, and the Proof-Of-Stake (POS) component of the hybrid consensus mechanism all work hand in hand; together, they provide the following services and benefits to the network.
- Stakeholder Governance: Zinnia community members holding Zinn can vote on any proposed changes to the Zinnia protocol, development proposals, or community-based proposals.
- Enhanced Security: POS adds an additional layer of security by validating the work completed by Proof-Of-Work (POW) miners.
- Incentive Alignment: Staking component ensures voter incentive is aligned using the “skin in the game” philosophy.
The roles and functions performed by POS participants are incentivized, and network rewards are received for the work completed or the role performed.
Securing the network, staking, and voting on DAO proposals all go hand in hand.
You need to purchase a license through the DAO to vote and stake.
Network participants purchase licenses by locking away the “license fee” in Zinn for a set period of time. A small fee is also paid to the DAO Treasury for granting the license.
License prices are calculated in Zinn and set algorithmically by using several network metrics.
License prices are adjusted every twelve hours.
Holding a license allows the participant to vote on the following:
- The validity of the previous Proof-Of-Work (POW) block.
- DAO/Network proposals
Once purchased, licenses are entered into the license pool.
Once a License has been obtained, it is entered into the “license pool.” Licenses are chosen from this pool randomly to check the work completed by POW miners.
License holders can vote on proposals submitted to the DAO if the license is held during a voting period.
Voters can vote one of three ways.
License holders who do not physically vote during a voting period will automatically return a vote of abstain to the network.
Around 80,000 licenses will be available on a rolling basis. Further details of the network's ideal number of licenses will be available when zinnia technical documentation is made public.
Every license entered into the ticket pool receives an equal share of POS block rewards for the duration the owner holds the license.
NOTE: Technical and advanced documentation will be made public at launch.