Wikiwoop Documentations

9 - WOOPCHAIN GOVERNANCE STRUCTURE RIGHTS

The voting structure is divided into two categories i.e., Network Vote and Community Vote. Certain voting rights regarding the social community contents, verification, and other legal matters available to the community members. The Community members have voting rights over the WoopChain network and the social community.

As Wikiwoop is a decentralized social community, it cannot perform actions such as (but not limited to) deleting, suspending, or blocking accounts, modification of the Wikiwoop social community App, or taking down any user contribution from the Wikiwoop App. Whenever a situation arises, wherein a decision has to be taken regarding such matters, fifty-one percent (51%) of the WoopCoin holders need to vote in favour or against the issue raised so that an action can be taken accordingly. Each WoopCoin is equal to one (1) vote.

For any voting to be considered effective the participant rate must meet each category. If the participation rate does not meet the minimum requirement in any of the categories, then the voting of that category will be allocated to the higher category. However, if none of categories meet the minimum participation requirement, Wikiwoop, retains all voting rights. To ensure the efficiency of governance at the early stage, Wikiwoop reserves the right to make the decision among the voters if the voting event fails twice in a row.