$PACK Governance

The third utility of PACK will be the ability for holders to participate in governance. For clarity, this utility will be rolled out after launch and so it will not be available immediately.

We’ve always made a point to listen to customer feedback around their pain points and desired features. Many of the features that are today available within the wallet have come directly from community feedback. With the introduction of PACK we aim to formalize the process more and allow community members to vote on a number of initiatives.

These initiatives will mainly revolve around core product development. Up until this point, we haven’t had a tangible way for our community to participate in HashPack's direction and we have tried to wage interest from the community through social channels. With the introduction of PACK governance, we will be able to see the community’s priority on new features, dApp listings, featured dApps, and other initiatives. Through this we hope that users will be able to participate in a bidirectional conversation between our team and the community members, to the benefit of all.

The exact mechanisms and approach for this governance will be explored as we develop this feature out, making adjustments as we receive feedback and see what our community values and wants to vote on.

Initial Plans for Governance

Voting goes to PACK holders

Holding PACK is a direct signal that a user is actively engaged in HashPack and has an interest in the direction of the platform.

Participating in governance does not spend PACK

Votes are given for holding PACK, proportional to the amount of PACK held. Prior to voting a snapshot will be taken of accounts to determine their vote counts.

Minimum threshold

Each 20,000 PACK in an account is worth one vote. So a user with 75,000 PACK would have three votes worth of voting power in a specific proposal.

Concierge Collection Multipliers

An important utility of the Concierge Collection is its additional weight in participation in governance. This recognizes Concierge Collection holders as a group of users who deeply care about the direction and success of HashPack.

At the core of this initiative is our commitment to engaging with and listening to our community. It’s not just about the features and directions of the wallet, either. We can expect that the governance platform and the proposals that are guided by it will grow and evolve over time, informed by the active participation of our users. We hope that we can make the most of this unique aspect of web3 to engage with communities and make this valuable for everyone involved.

Here are a few initiatives that we have in mind that could be featured in votes:

  • Feature prioritization

  • Community-voted dApp listings

  • Featured dApps

  • Theme and other cosmetic requests

  • Community-driven questions and votes

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