🏝️Governance Mechanism

The Simu DAO empowers the community by giving them a voice in the decision-making processes, resource allocation, and profit distribution. By adopting a decentralized governance model, Simu fosters a sense of ownership, inclusion, and empowerment among its citizens, ensuring that the metaverse grows and thrives in alignment with the collective vision of the community.

Simu designs a mechanism for staking SIM tokens to acquire governance rights. Users have the option to stake SIM tokens on the Simu platform to obtain voting privileges for governance.

Specifically, users can choose to stake SIM tokens for one month to one year, and for each month staked, they will receive 1 voting right for governance. However, to incentivize long-term staking, the governance rights will decrease proportionally as the staking period decreases. Moreover, to provide users with greater flexibility, they can choose to extend the staking period at any time. If a user decides to extend their staking before the initial period expires, they will retain the governance rights from their previous staking. This allows users to manage and adjust their staking behavior based on their needs and interests.

This staking mechanism is designed to incentivize long-term participation in Simu's governance and reward users who continuously support the project. By staking SIM tokens to acquire governance rights, users can participate in important decision-making processes and ensure the democratic and transparent nature of governance decisions. Additionally, users can enjoy a certain level of flexibility as the staking period decreases. They can decide whether to extend their staking period based on market conditions and personal circumstances, maximizing their own benefits.