# 4thTech Governance
4thTech Governance is designed to give the community insight into the most impactful decisions concerning the development and project multiverse expansion. Snapshot is used to enable FOUR token community holders to signal their preferences on the project proposals.
# Governance Token
According to CMC, governance tokens are tokens that developers create to allow token holders to help shape the future of a project. In the case of 4thTech, ERC-20 FOUR token acts also as a governance signal token. ERC-20 FOUR token holders can influence decisions concerning the project such as proposing or deciding on new feature proposals, new chain deployment and similar.
# FOUR Token
FOUR token is a multi-chain asset, a technical component that enables 4thTech tokenization with staking and transaction services fee discounts. Natively an ERC-20 token has a deeper power also as a signalling governance mechanism.
# Voting on Snapshot
Snapshot is a decentralized voting signalling system that allows ERC-20 FOUR token holders to signal their preferences on 4thTech proposals but will not replace the governance structure. Voting on Snapshot is user-friendly and does not cost gas as the process is performed off-chain. 4thTech is using Snapshot to allow users to signal their preferences on the project proposals.
💡 Snapshot votes are NOT binding, they allow FOUR token holders to signal their preferences on 4thTech proposals but will not replace the governance structure.
4thTech uses the Snapshot platform to take a “snapshot” at a certain block. This snapshot dictates the voting power of each wallet, where 1 FOUR = 1 vote. The platform weights votes by the amount of a given token a participating wallet address holds. Once a proposal reaches public referenda, token holders can vote on it using their own FOUR tokens.
# Voting Eligibility
- “minBalance” of 4k ERC-20 FOUR tokens are needed to contribute a vote
- Each voter may select a single choice to give his total voting power to
We use the various voting strategies, for example an “balance-of-with-min” strategy is used to check whether the participant has a minimum amount of tokens required to vote. “minBalance” of 4k ERC-20 FOUR has been set, which equals the minimum balance required to vote on a proposal.
Voting system: Single choice voting, multichoice voting
Voting types: Signal check, grant proposal, implementation proposal, other
Voting time frame: Start and end date specified
# 4thTech Governance Guide
This guide contains everything you need to start voting. In order to participate you will need:
Min of 4k ERC-20 FOUR tokens A browser with Metamask installed
- visit: https://vote.4thtech.io/ (opens new window);
- connect your Metamask wallet (it should be the one where FOUR tokens are stored);
- after reviewing listed proposals, select your preferred option and click Vote.
💡 Voting on Snapshot is user-friendly and does not cost gas as the process is performed off-chain.
For the avoidance of any doubt, any vote cast results by the Four Token community holders shall under no circumstances be legally binding upon The 4th pillar Ltd. and/or Block Labs Luxembourg S.a r.l. At all times the vote casted will be treated as submitted for informational purposes only.