Governance process of N17 DAO

The governance process of N17 DAO is mainly divided into four stages.

Phase 1: Token holders vote for council candidates. 1 token = 1 vote.

Phase 2: Council candidates are ranked according to the number of votes. The voting results will be updated every 21 blocks (21 blocks become an Epoch).

The third stage: The top 21 candidates with votes will be elected as members of the N17 DAO council.

The fourth stage: The top 7 council members with votes will further become consensus nodes, and the top 8-21 council members will be ordinary council members. Consensus nodes assume the responsibility of processing network transactions. If a consensus node fails, it will be replaced by other council members in order of votes.