Building a Balanced Future: Presenting Voi’s Checks and Balances
Dear Voi Community,
We hope this message finds you well! Over the past few months, we have embarked on an exciting journey together, establishing the foundational pillars of Voi’s tripartite governance system. We’ve introduced you to the Voi Council, the Voi Treasury, and the Voi Judiciary, each playing a crucial role in shaping our decentralized future.
Today, we are thrilled to present to you our proposed Checks and Balances system — one we hope ensures fairness, accountability, and democratic integrity within Voi.
Our vision for Voi has always been rooted in the principles of transparency and collective empowerment. With our Checks and Balances system, we aim to create a governance structure where no single branch can dominate, ensuring that all decisions are made with the utmost consideration for the community’s best interests.
Checks and Balances Overview
Absolute Majority Vote: Decisions within Voi’s governance system generally require more than half of the total membership, regardless of the number of members present and voting.
Individual vs. Entities in Voting: The Voi Council operates as a body of unique individuals for voting purposes. Meanwhile, the Voi Treasury and Judiciary vote as singular entities, based on their internal consensus mechanisms.
The full-fledged Check & Balances document has been summarized below:
The Voi Council’s Powers:
- Approval/Denial of Proposals & Strategic Initiatives: The Council reviews and approves significant operational changes or strategic initiatives proposed by the Treasury.
- Budgetary Oversight: The Council controls the blockchain’s budget, ensuring fiscal responsibility and alignment with strategic goals.
- Impeachment: The Council can initiate proceedings to impeach and remove members of the Council or Treasury.
- Veto Override Mechanism: The Council can override vetoes from the Treasury and Judicial branches with unanimous votes.
- Amendments to the Constitution: Unanimous approval from both the Council and Treasury is required for amendments, ensuring full consensus.
The Voi Treasury’s Powers:
- Veto Authority: The Treasury can veto Council decisions if they compromise the blockchain’s operational integrity or vision.
- Impeachment Approval: The Treasury must approve any impeachment initiated by the Council.
- Amendment Approval: The Treasury’s approval is necessary for any constitutional amendment.
The Voi Judicial’s Powers:
- Veto Authority: The Judiciary can veto Council decisions that violate the blockchain’s constitution or ethical guidelines.
- Impeachment Rejection: The Judiciary can reject the Treasury’s approval of an impeachment.
- Interpretive Authority: The Judiciary ensures that all actions comply with Voi’s governance rules and the Constitution.
Figure 1: Overview of the checks and balances framework across the tripartite system
Request for Community Feedback
We are optimistic about the potential of this Checks and Balances system to foster a fair and balanced governance structure for Voi. However, this is just a draft, and your feedback is crucial in refining these mechanisms. We invite you to review the details shared above and provide your insights, suggestions, and concerns.
Your voice is at the heart of Voi’s success. Let’s work together to build a governance system that truly represents our collective vision. The draft of Voi’s checks and balances document can be found here. Community feedback on this document can be provided HERE.
Thank you for your continued support and participation.
With gratitude,
Voi Foundation
