WAX OIG Elections: Get involved!
Elections for the Office of Inspector General take place twice per year.
If you still need to learn what the Office of Inspector General is, what the OIG does, and what it requires to be an Inspector General, read our Introduction to the WAX Office of Inspector General and check out the OIG website.
If you have any questions or comments, join the official WAX Governance channel on Telegram, the official WAX Discord, or one of our bi-weekly round tables.
The Election Process
The Election is split into a nomination and a voting phase.
During the nomination phase, interested parties can nominate themselves or potential candidates they deem suitable for the position. This requires knowing the account name of the person you want to nominate and incurs a small fee. Third-party nominations need to be accepted by the nominee before they become valid. Nominees will only be visible on the election page once they added a description.
Once nominations have concluded and at least two candidates have been found, the election moves into the voting phase.
The timeline of each election can be found on the OIG Website.
How to Vote
Voting takes place on the OIG website, oig.wax.io, which 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!
Until the end of the voting period, users can, at any point, change their 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.
The Job
While we encourage every suitable candidate to ‘run for office’, we must point out that becoming an IG is not a decision to be taken lightly.
The OIG is designed as a full-time position, each tenure lasting 18 Months. Compensation fluctuates based on the 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 other’s 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 personal level, an IG needs to remain objective and level-headed, communicate clearly, and de-escalate even under pressure or personal attacks.
Election requirements:
- IG candidates must not run or be directly affiliated with any active Guild Candidate 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.
- A certain threshold of voting participation needs to be met for an election to be considered successful. (currently defined as 15M Votes)
- The winning candidate received 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.
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!