d. 🏛️ Token Governance

Token governance refers to the mechanisms and processes through which decisions are made regarding the direction and management of the Ibiza Token ecosystem. The Ibiza Token governance system is designed to be decentralized and community-driven, with the ultimate goal of ensuring a fair and transparent decision-making process that aligns with the interests of all stakeholders.

The governance system is based on the IBZ token holders, who have the power to propose and vote on changes to the ecosystem. Each IBZ token represents a vote, and holders can use their tokens to participate in the decision-making process.

The Ibiza Token ecosystem uses a DAO (decentralized autonomous organization) model for governance, with proposals and votes conducted through smart contracts on the Ethereum and Polygon networks. The system is designed to be open and transparent, with all proposals and votes publicly visible on the blockchain.

To ensure a fair and democratic decision-making process, the Ibiza Token governance system includes several measures to prevent centralized control and protect against the influence of a small group of individuals or entities. These measures include:

1. Quorum requirements: A minimum percentage of token holders must participate in a vote for it to be considered valid.

2. Time-locking: Tokens used for voting are locked for a specified period of time, preventing them from being used for other purposes during the voting process.

3. Proposal threshold: A minimum number of tokens must be used to create a proposal, ensuring that only serious and well-considered proposals are submitted.

4. Multi-sig requirement: Key decisions require multiple signatories to ensure no single individual can control the ecosystem.

Through the governance system, IBZ token holders have the power to propose and vote on changes to the ecosystem, including changes to the tokenomics, partnerships, and development roadmap. The system ensures that the interests of all stakeholders are taken into account and that decisions are made in a fair and transparent manner.