Once an ZenIP/EONIP has been approved for voting, it will proceed to a live Snapshot vote. As a $ZEN tokenholder, you can participate in this Snapshot voting.
The two categories of ZenIPs/EONIPs have different requirements for vote quorums and majorities:
- There must be at least 10% of the circulating supply of $ZEN participating in the vote. The proposal must receive at least 67% of votes in favor in order to pass.
- There must be at least 5% of the circulating supply of $ZEN participating in the vote. The proposal must receive more votes in favor than against in order to pass.
Delegation is permitted, and $ZEN tokens that are delegated must have been delegated to the wallet address that is voting before the voting period begins.
Voting remains open for a period of 72 hours. At this time, anyone who meets the qualifications to vote may vote once for every $ZEN contained in (or delegated to) the wallet they are voting from. Following 72 hours, voting closes, and no more votes may be cast.