Submit and vote on project proposals, budgets, and expenses.
PIVX is a Decentralized Autonomous Organization, or just DAO, which is currently one of the world's most revolutionary business models available. This allows PIVX to maximize the potential of owner-less business based on blockchain technology. Therefore, PIVX has no employees, no management, only community members who got together to advance the project.
So The Big Question
How does PIVX fund further development, advertising, etc?
Although a significant portion of the work is done by volunteers, a monthly budget of 432,000 PIV is allocated to proposals submitted by the community and voted upon by masternode owners (1 masternode = 1 vote).
These PIV are allocated for the implementation of those proposals that received a sufficient percentage of "Yes" votes in relation to "No" votes (10% or greater).
PIVX creates a new block roughly every 60 seconds. Each of these new blocks create 20 new PIVs:
- 10 PIV are allocated to treasury proposals
- 6 PIV go to a masternode owner
- 4 PIV go to the staker who wrote the block
Anyone can submit a proposal (submitting a proposal costs 50PIV). It doesn't matter how you contribute to the development of the project - as a designer, ambassador or even a singer. What is important is a positive result, the forecast of which you can indicate in your proposal.
It's a good and recommended practice to post a draft or pre-proposal on the PIVX forum to obtain feedback from the community prior to submitting the proposal to the network. See the Drafting a Proposal page for additional guidance.
Once you are confident with your proposal, you are ready to create and submit your proposal to the PIVX network.
Masternode owners vote for the proposals put forward. This voting is decentralized and anonymous. If the total amount of funded proposals is above the monthly treasury's limit, the proposals with the most yes votes are funded first.
All past, present, and upcoming proposals and the votes received for each proposal are transparent and on public record and are available for inspection at https://pivx.org/proposals.