WAX OIG Election: Get ready to vote!
The WAX Inspector General Voting period is closing in.
With the nomination period coming to an end this week, it is time to prepare to vote. Voting happens on the new and improved OIG website, oig.wax.io, and currently supports the WAX Cloud Wallet, Anchor, and Wombat. If you want to cast your vote using a Ledger Hardware wallet, you will be required to link it to an Anchor wallet. You can get Anchor here!
Starting Friday, November 24th, 2023, you will be able to cast your votes toward any running candidate. If you are undecided, there is time to make up your mind, but make sure to cast your vote before November 30th at 17:59:59 UTC, as this is when voting concludes. Until the end of the voting period, you are free to change your decision and vote for a different candidate. Voting is limited to one candidate per WAX account. In the spirit of being a delegated Proof of Stake chain, the OIG election is based on your stake weight. Only tokens you own are counted, rented stake does not. Due to technical limitations, if you are staking towards other accounts, only the first 100 delegations of your account are counted.
Keep in mind that you can unstake your tokens and re-stake them to your own account instantly without waiting out the three-day unstaking period.
If you do not yet know what the Office of Inspector General is, what the OIG does, and what it requires to be an Inspector General, make sure to give our “Introduction to the WAX Office of Inspector General” a read or check out our website.
If you have any questions or comments, make sure to join the official WAX Governance channel on Telegram or Discord.
If you think you have what the Office and WAX ecosystem needs, or know someone that does, nominations are still open!
While we encourage every suitable candidate to ‘run for office’ we feel the need to point out that becoming an IG is not a decision to be taken lightly.
18 Months in Office is a great commitment. The OIG is designed as a full-time position with the pay fluctuating based on WAX token price, as it’s aligned with the compensation of a Standby Guild.
If you read the introduction to the OIG, you will see that the requirements an IG has to fulfill are versatile. While some knowledge can be acquired ‘on the job’, and the IGs usually complement each others skillset, a certain level of understanding and experience in technical aspects and blockchain governance is essential, while working proactively and independently is an absolute must.
On a more personal level, an IG needs to stay objective, level-headed, express oneself clearly, and act de-escalating even under pressure or while being attacked on a personal level.
Election requirements:
- IG candidates must not run or be directly affiliated with any active Guild Candidates to prevent conflicts of interest. Any recent or ongoing business relations with Guild Candidates should be disclosed.
- For the election to proceed to the voting stage, at least two Nominees must be found.
- For an election to be considered successful, a certain threshold of voting participation needs to be met. (currently defined as 15M Votes)
- With the winning candidate receiving at least 8M WAX of votes.
If any of these criteria remain unmet, the election process is repeated until a clear outcome has been determined.
Make sure to take the coming days to get to know the candidates, what they stand for, and what they plan to contribute to the Office of Inspector General.
But most importantly, make your voice heard: oig.wax.io
Every vote matters!
