$TRKX Governance: First Vote for Holders

We’re happy to launch the first vote for $TRKX holders, another great milestone for the Trakx ecosystem!

As you should know, the $TRKX token is the key element of our platform, allowing holders to enjoy significant benefits and perks, such as discounted trading fees, governance power, boosted referrals, priority support, and more! 

The first vote will be a significant step in including holders in our decision-making processes.

Holders will decide whether the token should be included in some CTIs (Crypto Tradable Indices).

First vote: Including $TRKX in some crypto indices

The first governance vote will focus on including our $TRKX token in some specific Crypto Tradable Indices (CTIs) or not. 

Potential benefits of including $TRKX in some CTIs

• Increased market cap: Including $TRKX in certain CTIs will contribute to its market capitalization, driving broader adoption and making its fundamentals more solid and growth-oriented.
• More liquidity and volume: Integration into CTIs will automatically increase trading volume and market activity, benefiting both short-term traders and long-term investors.
• Community-driven governance: Trakx is built on community participation. Your vote will help ensure that major decisions align with the interests of token holders.

How does the voting system work?

We’ve invested a lot of time and resources to design a fair and effective governance model for the community. Our goal is to find a perfect balance between whales and small holders, ensuring that every holder’s opinion counts. Of course, whales will have more impact on the decision, but the will of small holders will have an impact as well.

We wanted to prevent three key issues:

• Sybil attacks: Preventing manipulation by users splitting their holdings into multiple small wallets to gain disproportionate voting power.
• Overconcentration of governance by whales: Ensuring that large holders have influence but don’t dominate the decision-making process.
• Too little governance power for small holders: Making sure that every participant, even those with fewer TRKX, is relevant in the decision-making process.

Quadratic voting: A balanced approach

To address these concerns, we’ve implemented a quadratic voting model, a system that provides a progressive influence curve based on the amount of token held. This means that the more $TRKX you hold, the greater your voting power, but at a diminishing rate.

The formula is √(amount of tokens) / 100, and here are the level and voting powers:

1. Plankton (10,000 TRKX) → 1.00
2. Shrimps (40,000 TRKX) → 2.00
3. Crabs (100,000 TRKX) → 3.16
4. Octopus (300,000 TRKX) → 5.48
5. Fish (800,000 TRKX) → 8.94
6. Dolphins (2,000,000 TRKX) → 14.14
7. Sharks (5,000,000 TRKX) → 22.36
8. Whales (10,000,000 TRKX) → 31.62
9. Humpbacks (20,000,000 TRKX) → 44.72
10. Leviathans (40,000,000 TRKX) → 63.25

We’re quite confident that, in this way, whales hold significant influence but can’t completely dictate outcomes, while smaller holders still have a voice that matters. We wanted to build a voting mechanism that is both inclusive and resistant to manipulation, and the quadratic voting model we developed will allow us to create a truly community-driven decision-making process.

How to participate in the first vote?

Now, let’s explore how to participate in the first Trakx governance vote: don’t worry, the process is quick and simple, and you will directly decide whether TRKX should be included in specific Crypto Traded Indices (CTIs), helping shape its future utility and adoption.

For this first vote, we’re using a custom weighted vote bot on Discord, but we’re also working on a dedicated governance dashboard directly on our website, which will make participation and processes even smoother in the near future.

Steps to vote

1. Join the Trakx Discord server: https://discord.gg/SgDq54NWnS
2. Verify your holder status: Open a ticket and submit your UID to get the TRKX Holder role.
3. Access the private holders’ zone: Once verified, you’ll unlock access to the voting channel.
4. Vote with Votex: The governance bot, Votex, will handle the voting process! React to the message in the voting channel with the designated emoji for your preferred option.

How voting power is calculated

Your vote’s weight is determined by your TRKX holdings and the corresponding role you receive in Discord. Votex will automatically apply the correct multiplier based on your role level, ensuring that voting power follows our quadratic voting system mentioned earlier.

Voting deadline

The vote is open for 4 days, so make sure to participate before the deadline! Once the voting period ends, results will be announced, and we’ll proceed based on the community’s decision.

This is just the beginning of a more decentralized and transparent governance model for TRKX holders. With upcoming improvements, we’ll soon introduce on-chain governance tools directly on our website, allowing for even more secure and efficient decision-making.

Shape the future of Trakx through the governance power

Governance is just the beginning, being a TRKX holder comes with even more benefits! By participating in this vote, you’re not only shaping the future of TRKX, but you’re also reinforcing your role in a growing ecosystem that rewards its most engaged members.

More benefits for $TRKX holders

Beyond governance, TRKX holders gain access to exclusive perks, including:

• Discounted trading fees: Enjoy lower fees on Trakx, maximizing your trading efficiency.
• Referral boosters: Earn more when you bring new users into the ecosystem.
• VIP membership: Get access to special events, exclusive content, and priority support.
• Buybacks & liquidity programs: TRKX holders benefit from buybacks and liquidity incentives, helping strengthen the token’s value over time.
• Early access to new products: Be the first to try new Trakx features and innovations before they go public.
• Other perks & rewards: More exciting benefits coming soon as we continue expanding the TRKX ecosystem!

This vote is a key step toward making TRKX more powerful and integrated within Trakx, but it’s only the beginning. The future of Trakx is community-driven, and your participation makes all the difference!

Vote now and help shape the future of TRKX!