SmartCash was one of the pioneers in the crypto segment, introducing a voting system for community proposals back in 2017.
So, the proposal process will remain the same, and all SmartCash holders can take part in the voting. 1 SMART = 1 vote.
Now, the following changes will come into effect for the creators of the proposals:
Creators of proposals can get bonuses depending on the locking period:
1 year Time Locked Payments by default
2 year Time Locked Payment – 10% bonus
3 years Time Locked Payment – 20% bonus
5 years Time Locked Payment – up to 50% bonus
In this way, proposal creators who want to support the project can choose locking for a longer period of time and get a bonus. Both SmartCash and proposal creators benefit from this. SmartCash can be confident that the offer creator will not only complete the steps described in the proposal, but will also keep the SMART for a certain period. Therefore, these changes are aimed at a long-term and effective cooperation between SmartCash and third parties willing to contribute to the project.
Developers, promoters and users who think that their ideas can help the project’s development (e.g. creation of educational videos, tutorials, etc.) can create proposals on the voting platform. If you want to create a proposal, you should describe in detail the goals and other important information: introduce yourself to the SmartCash community, tell about your experience in the industry, why your proposal is useful, how long it will take you to complete it, etc. This is important information that will help the whole community make a wise decision and cast a vote. Users can leave questions in the comments section of the site. It is also recommended to share the proposal on Discord to stimulate an active discussion.
This updated model will enable a transparent approach between third parties and SmartCash. SmartHive Reloaded is another example of how Time Locked Payments are used and how they are useful in different cases.
Voting Portal: https://vote.smartcash.cc/