1hive uses conviction voting to allocate Honey from a common pool towards community initiatives that add value to the 1hive community.
You can create, monitor, and stake on conviction proposals using the app located at 1hive.org.
Conviction Voting allows proposals to be created and considered continuously and simultaneously. Participants can signal their preferences for the proposals they support, but they are not able to “double count” their influence across multiple proposals.
When they start supporting a proposal, the support (called conviction) does not immediately apply, but instead must charge up over time according to an exponential decay function or half-life.
Currently there are two types of proposals, signaling proposals which do not request honey, and funding proposals which do request honey.
For funding proposals, there is an execution threshold that is determined based on the proportion of funds requested relative to the funds available in the common pool. The greater the proportion, the greater the threshold required.
For a deeper dive on the conviction voting, check out this cadCAD model exploring the mechanism.
The conviction voting implementation 1hive uses has been developed in collaboration with Aragon, Commons Stack, and Block Science.
Before submitting a proposal, you should first make a forum post on forum.1hive.org. This is where you can provide a detailed description of your proposal and its rationale. It also provides a venue for discussion and debate among community members.
Currently if you fail to do this, you will simply be asked to withdraw your proposal, in the future you may be required to put up stake which could be challenged if you don’t follow the appropriate procedure, so better to just following the rules now.
Once you have created your proposal thread, you can create your proposal by going to 1hive.org, connecting your account, and clicking New proposal.
Be sure to provide a short but descriptive title, and link to your forum post.