modum.io | Upcoming voting on milestone 1
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Upcoming voting on milestone 1

Upcoming voting on milestone 1

Milestone 1 Voting Period: November 3rd – November 17th

The modum team is pleased to announce that voting for Milestone 1 starts Friday November 3, 2017. Voting period opens at 1200 CET and lasts for two weeks. Each token you hold accounts for one vote.  Please refer to the milestone overview in our whitepaper on page 13.

Voting question: Did a proper minting and token distributon process occur?

The purpose of Milestone 1 is to determine whether the MOD Token was minted and distributed properly. This means that the correct number of tokens was transferred to the account you specified during the token sale process.  A positive vote, i.e. a simple majority of positive votes, for milestone 1 will release 900,000 MOD Tokens, which will be used as compensation for our advisors, volunteers, and bug bounty participants. In case of a negative voting, the process will be reinitiated earliest 90 days after the end of this voting period.

Important Information concerning your voting rights

Relevant point in time: Friday, 1200 CET
The voting rights will be determined on Friday at 1200 CET. Note that voting rights are nottransferable. This means, the voting power will be allocated to the accounts which hold MOD tokens on Friday, 1200 CET.

In pratice this means:

  • If you want to participate in the voting, do not have your tokens on an exchange on Friday, 1200 CET.
  • In order to vote, use your wallet address which holds the tokens on Friday, 1200 CET.
  • You cannot increase your voting power by buying more tokens after Friday, 1200 CET.

 

How to vote?

We will send out an email to all token sale participants with clear instructions on how to vote on Friday, 1200 CET.  This information will also be available on our blog and shared on our social media channels.

Is voting mandatory?

While every vote is appreciated, there is no obligation to vote and there are no consequences for you if you do not participate. Refer to the milestone overview in our whitepaper on page 13 for more information.

We would like to thank you all for your participation and ongoing support.