DAO

Cherry DAO aims to promote the development and long-term governance of CherrySwap, increasing the utility of CHE and collaborating with builders from all over the world to drive positive change.

Cherry DAO is a decentralized protocol managed by the community. CHE holders collectively discuss, propose, and vote on protocol upgrades. CHE holders (only available on the OKT Chain) can vote on new proposals themselves or delegate their votes to a selected address.

How Does The Voting Work?

1. Obtaining Votes

To vote, you need to get veCHE tokens.

We have modified the Cherry Pool protocol so that when you stake CHE in the DAO Governance pool, you will automatically receive veCHE tokens. Correspondingly, when you unstake, the corresponding amount of veCHE will be automatically destroyed.

1 CHE = 1 veCHE

2. Go to Vote

Go to Cherry DAO Snapshot, read and study about proposals, and submit your vote here.

3. Proposal Implementation

When the vote count for a proposal exceeds 10 million, the proposal can be executed based on the voting results; otherwise, the proposal will not pass.

No proposals will be initiated until the majority of community member stake their CHE into the Governance Pool. Therefore, we will establish a 3-month asset migration buffer period, and Cherry DAO governance will officially commence in three months.

How Do I Vote?

Go to Cherry DAO in Snapshot and select relevant proposals.

1. Read the proposal and ensure you fully understand its contents.

2. On the right, select the vote you want to cast.

3. Confirm your vote.

4. Congratulations, you have completed your vote!

How Do I Change My Vote?

You can easily change your vote by following the above steps and casting the vote you desire. Your previous vote will be automatically canceled.

Can I Move My CHE During The Voting Period?

When a proposal is submitted, a snapshot of your wallet will be taken. The amount of veCHE you have when the snapshot is taken will be your voting power. You can move your CHE as you wish and changes in the veCHE amount due to stake/unstake do not affect the current vote.

Can I Add More Tokens To The Vote?

No, you cannot. The veCHE amount you have when the snapshot is taken will be your voting power for the current proposal. Changes in the veCHE amount due to stake/unstake of CHE do not affect the current vote.

We value your thoughts.

We appreciate the community's active involvement in shaping our future!