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Conviction Voting

Conviction Voting is the governance system in which Commons Members create proposals to request funds from the Common Pool.

TEC tokens can be staked on these proposals to signal approval of the request. Staked tokens accrue voting power, or Conviction, continuously over time. The amount of tokens currently voting on all proposals in Conviction Voting is represented by the term Effective Supply. The logarithmic function that decides the rate at which Conviction accumulates is Conviction Growth.

This is the real power behind the TEC token. TEC holders have a direct impact on funding Token Engineering by reviewing projects and voting on which initiatives get funded and how much funding they receive.

The Spending Limit sets the maximum percentage of the Common Pool funds that can be requested by a single proposal. The Minimum Conviction dictates how many TEC tokens are needed to pass a proposal, no matter how small the amount requested.

You decide:

  • How much of the Common Pool’s funds can be requested in a single proposal
  • How many tokens are needed to pass a proposal
  • The rate at which conviction accumulates

If you need more information please check the links below:

Conviction GrowthSpending LimitMinimum ConvictionDisputing and Celeste