The Utility of SECOREP
SECOREP's main utilities come in two forms: facilitating voting and driving proposal creation. Let's delve into these a bit deeper.
Leveraging SECOREP for Voting
The main utility for SECOREP is voting, and thus participating in the proposals withing the DAO. The more SECOREP a wallet has, the stronger its voting power is, but this is limited to a maximum voting power. This means that the more SECOREP you have, the more influence you have on the outcome of a vote, but with limits.
Each proposal that comes up for voting is influenced by the amount of SECOREP held in a wallet at the time of proposal creation. So, if you are not in the DAO (or don't have any SECOREP) at times of proposal creation, you cannot vote on that proposal. To understand more about how the voting process works, refer to our detailed voting guide and our Proposal Security Measures.
Using SECOREP to Create Proposals
SECOREP plays a significant role in proposal creation. The cost of creating a proposal is not a fixed number but a variable one that the community (DAO) can vote to change.
There is also a minimum amount of SECOREP required to create a proposal. This is to prevent spam proposals from being created by recently joined members. The minimum amount of SECOREP required is also a variable that the DAO can adjust, currently it doesn't account for the inflation of the daily rewards, but the DAO can change the value with proposals (or update the diamond faucet).
For a more comprehensive understanding of voting power and proposal creation, refer to our page on Proposal Security Measures. This page provides valuable insight into the safeguards in place to prevent misuse and manipulation, while also explaining why these security measures are crucial for maintaining the integrity of the system. These measures tackle threats like Sybil attacks, where one person may control many digital wallets to sway decision-making, and seniority bias, which could allow older inactive members to dominate voting outcomes over newer, more active members.
Remember, your SECOREP tokens are not just tokens, they're your voice in this ecosystem.