5. Community Governance

5.1 Governance Token and Voting Mechanism

AI MEME INDEX emphasizes community-driven governance to maintain transparency and inclusivity. Key features include:

• Governance Token:

  • $AMI token holders can participate in governance processes.

  • Voting power is proportional to the number of tokens staked.

• Voting Mechanism:

  • Proposals are submitted for community review.

  • Votes are cast through a decentralized platform integrated with Virtuals Protocol.

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5.2 Proposal Submission Process

The governance system allows community members to propose changes or initiatives for the AI MEME INDEX:

1. Proposal Types:

   • Adding or removing tokens from the index.

   • Adjusting the weight of index components.

   • Allocating funds from the INDEX Investment Fund.

2. Submission Steps:

   • Draft a proposal using the standardized template available on the governance portal.

   • Submit the proposal for review and validation.

   • Approved proposals proceed to the voting phase.

3. Approval Criteria:

   • Proposals require a majority vote to be implemented.

   • Smart contracts execute the approved changes automatically.

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5.3 Transparency and Accountability

AI MEME INDEX ensures full transparency and accountability in its governance process:

1. Public Proposal Logs:

   • All proposals and voting results are published on the governance portal.

   • Historical data is accessible for community review.

2. On-Chain Execution:

   • Governance decisions are executed via smart contracts, removing manual intervention.

3. Community Reports:

   • Regular updates on governance activities, fund allocation, and index performance are shared through Discord and Twitter.

4. Incentives for Participation:

   • Active participants in governance are rewarded with $AMI tokens or exclusive NFTs.