Umbrella Network announces the launch of the Governance Forum and Voting Portal

Umbrella Network announces the launch of the Governance Forum – gov.umb.network and Voting Portal, allowing community members to participate in forum discussions and vote on key decisions to promote development future development of Umbrella Network.

Umbrella Network empowers the community

Umbrella recognized the need for a more structured initiative dedicated to the community so that they were free to make suggestions and together continue to shape Umbrella’s future.

Umbrella is proud to announce the launch of two governance platforms

Umbrella Network Admin Forum: This portal is built on top of Discourse and allows community members to submit suggestions and participate in forum discussions to discuss Umbrella Network. The URL is gov.umb.network.

Umbrella Network Voting Portal: This portal is built on Snapshot and allows community members to submit proposals and then vote on those proposals.

How does the admin forum work?

If the user has used Discourse before, it will feel right at home. This is a fairly simple, open source and easy to use forum management software.

Once you’ve set up your account and joined the Umbrella Network community, you’ll see a variety of topics such as Open Proposals, Accepted Proposals, Deprecated Proposals, and many more topics specific to other topics. discussion topic. Think of it like Slack – but open source.

It is possible to browse through any topic and see the different topics in it. For example, the topics in the Accepted Proposals will be those that have been accepted by the community through a majority vote. Visit gov.umb.network to check it out!

How does the Snapshot voting portal work?

Voting on Snapshots is a pretty straightforward process.

Once a proposal has received sufficient support in the Discourse, it is moved to Snapshot voting.

There is a 1,000 UMB minimum limit to create recommendations. This is to prevent unnecessary spamming or redundant suggestions.

Users can now connect their wallets with UMB to Snapshot, choose a recommendation, and vote for the option they feel is best for Umbrella Network.

Community voting will not only depend on the number of ERC20 UMB tokens in their wallet. If there is BEP20 UMB or there is UMB being staking on Umbrella Network’s Hadley Stream or Polar Stream (as an LP), the user will still have the same voting rights and rights as someone who just holds the ERC20 UMB token.

Next Activity on Umbrella Network Admin Forum

In order for everything to go smoothly and to familiarize the community with the process, the community will vote on the reward structure that should be on the BSC Network, on the Umbrella staking portal.

The community can discuss the numbers on Umbrella’s Governance Forum and come up with their desired reward structure. The proposal will then be forwarded to the voting platform.

After a successful vote, Umbrella will focus on implementing the community decision and implementing UMB staking on the BSC network – with a reward structure chosen by the community.

Umbrella hopes the community will continue to provide strong feedback and timely discussions about what’s best for Umbrella’s future.