Roobee DAO governance overview
Last updated
Last updated
Every user who has at least 2,000,000 xROOBEE delegated to their address can put forward governance proposals on Roobee DAO and thus start voting sessions. Users can make proposals on changes to ROOBEE staking rewards on Roobee DAO, platform parameter changes on app.roobee.io and roobee.finance or, for example, propose adding new products to these platforms.
The purpose of this overview article is to familiarize you with the key features of Roobee DAO.
Please note: the Roobee DAO platform is built on Binance Smart Chain. In order to vote, a user must have bROOBEE tokens on their wallet balance.
Before we dive into the overview, let's take a brief look at the current requirements for creating governance proposals:
In order to use Roobee DAO, you will need a web3 wallet (MetaMask, Safepal, TrustWaillet, etc).
To take part in a voting session, you will need xROOBEE tokens (you can get them by staking ROOBEE).
Proposals can be made by only those users who have at least 2,000,000 xROOBEE delegated to their address.
Voting is considered successful if at least 51% of users have voted for or against the proposal.
All proposals put forward on Roobee DAO are subject to a voting period. Users can cast their votes only during this period.
Roobee DAO interface
Go to dao.roobee.finance
When you first visit Roobee DAO, you will see a pop-up window that will prompt you to connect your web3 wallet. We recommend using MetaMask - it's the most popular crypto wallet browser extension.
Once you've connected your wallet, you will see the main elements of the interface (on the left side of the window): the 'Voting' and 'Staking' tabs.
The number of votes delegated to the connected wallet is displayed in the 'Staking' tab as xROOBEE tokens.
If you have at least 2,000,000 xROOBEE, you will be able to make a proposal by clicking on the 'Create Proposal' button.
The 'Staking' page
The 'Staking' page consists of several sections: DAO stats, your wallet balance (bROOBEE and xROOBEE), and information on bROOBEE that you've staked.
On this page, you can stake your bROOBEE tokens to receive xROOBEE.
There are two staking options on Roobee DAO:
How xROOBEE tokens are accrued
You receive 1 xROOBEE token for every 10 bROOBEE tokens staked.
Also, you can earn rewards in bROOBEE for staking xROOBEE on the Roobee DAO. At the moment, the staking reward is 4% (subject to change in the future).
If you want to learn how to stake bROOBEE and receive xROOBEE governance tokens, you can check out our guide:
Please note: xROOBEE tokens can be used only for voting on Roobee DAO and cannot be traded.
The 'Voting' page and proposal creation
On the 'Voting' page, you can delegate xROOBEE, create proposals and vote on them.
By clicking the 'Delegate' button, you can delegate xROOBEE to yourself or a certain user for proposal creation or participation in voting. To take part in voting, you will need to delegate xROOBEE to your wallet address. After voting, xROOBEE will return to your wallet.
If you have at least 2,000,000 xROOBEE delegated to your address, you will be able to make a proposal by clicking on the 'Create Proposal' button. If you have less than 2,000,000 xROOBEE, the button will not be available.
The main part of the page is the list of active and former proposals. You can choose an active proposal and cast your vote or view info on former Roobee DAO proposals.
We've prepared an article where you can learn how to delegate xROOBEE, create proposals and vote in more detail:
No-fixed-period ROOBEE staking.
365 days ROOBEE staking.
With this option, you can stake bROOBEE tokens for any period and withdraw them at any time. However, once you unstake and withdraw your bROOBEE, the granted xROOBEE tokens will be removed from your balance.
If you choose this option and stake bROOBEE for 365 days, you will receive xROOBEE tokens that you can keep and use for voting for an unlimited time.
