Governance

What is the INDY token?

The Indigo DAO Token (“INDY”) is a Cardano native asset that can be owned, held, or transferred by any user. INDY serves as Indigo’s utility token, with one of its key purposes being to allow on-chain voting on DAO proposals (a “proposal”).
The total supply of INDY is 35M with a 6 decimal precision. INDY’s monetary policy disallows future minting and burning, therefore making the total supply constant and unchanging. Indigo is undergoing a Fair Launch, therefore there has been no pre-sale nor private distribution to investors prior to launch.

What is the Policy ID and Fingerprint of the INDY token on Mainnet?

Policy ID: 533bb94a8850ee3ccbe483106489399112b74c905342cb1792a797a0
Asset Fingerpint: asset1u8caujpkc0km4vlwxnd8f954lxphrc8l55ef3j

How does voting work?

See the Indigo DAO Voting Procedures document, that was ratified by the community in our Governance Forum.

How do I vote on-chain?

In order to vote, you first need to have some INDY. Those INDY will then need to be staked in the protocol. Your voting power is set to the total amount of INDY staked at the time of voting, for example if you had staked 10 INDY and then voted on a proposal, those 10 INDY will correspond as your voting power.
After voting on a proposal, your staked INDY are locked until that proposal's Voting Period has concluded.
Let's go over a few scenarios.
Scenario 1
  • Violet stakes 10 INDY.
  • Violet votes on Proposal A, which ends on January 2, 2022 at 10:00 pm UTC.
  • Violet's 10 INDY are locked until the Proposal A ends.
  • Violet votes on another, say Proposal B, which ends on January 4, 2022 at 10:00 pm UTC.
  • Violet's 10 INDY are locked until Proposal B ends.
Scenario 2
  • Violet stakes 10 INDY.
  • Violet votes on Proposal A, which ends on January 2, 2022 at 10:00 pm UTC.
  • Violet's 10 INDY are locked until the Proposal A ends.
  • Violet's stakes 20 INDY. Violet can unstake her 20 INDY at anytime.
  • Violet votes on another, say Proposal B, which ends on January 4, 2022 at 10:00 pm UTC.
  • Violet's 30 INDY are locked until Proposal B ends.

How do I change my vote?

Votes cannot be changed. We may offer this option in a future release of the protocol.

What is the cost of submitting a proposal on-chain?

DAO members that wish to submit on-chain proposals will need to deposit 50 INDY. This deposit will be returned to the proposal owner if the proposal successfully passes; if not, the deposit will be sent to the DAO Treasury.