Participation in BA management
Any investor with at least one share of a budget automation tool can control its operation. A shareholder can take part in voting on a specific initiative or come forth with their own one.
Collective management of budget automation tools is administered via a voting procedure. Questions put up for voting are formulated in a way that allows the members of the "general meeting" to vote for or against them. There are two types of voting procedures - "instructions to manager" and "automatic execution".
"Instructions to manager" - a type of vote whereby the manager executes the final decision using the rights and interfaces provided to them as the BA administrator. Capitaller does not monitor the execution of such decisions, nor takes part in their execution. This type of voting requires at least 50% of shareholders to take part with a 50% share of positive votes.
"Automatic execution" – a type of voting whereby the decision is executed automatically and immediately after voting is finished. This type of voting is used for the following activities:
- payments from income purses and purses of the BA management fund (50% positive votes with over 50% of voters);
- apointment of a new manager (75% positive votes with over 50% of voters);
- approval of money distribution schemes for income purses (75% positive votes with over 50% of voters);
- dividend distribution (50% positive votes with over 50% of voters);
- increase of the management fund (75% of positive votes with over 50% of voters);
- modification of a BA's name and details (75% of positive votes with over 50% of voters).
When creating a vote, the initiator sets the voting period - that is, the period when votes will be accepted and counted. The voting procedure is officially over when this period is over or when a quorum or an acceptable threshold is reached. Since the Capitaller service does not block the possibility to sell/transfer shares at the time of voting, the published voting results are purely indicative, and the actual result is the result obtained at the moment when the voting procedure is over.
Only the manager (administrator) has access to the full list of votes. Any owner of BA shares can initiate voting for assigning a new manager or distributing funds, as well as start an "Instructions to manager" type of voting.
Taking part in voting¶
The voting page is available on the "Voting" tab of the "Registry" page, or in the corresponding section of the service. This page contains a list of pending, open and closed votes in budget automation tools whose shares are owned by the member.
To take part in voting, you need to select an open vote with no decision made yet. Then click an icon in the first table column and express your opinon about the decision being approved by clicking either "yes" or "no". A member can select a closed vote in the table to see how fast it ended last time.
Creating a vote¶
To create a new vote, specify the name of the BA in the "Title" field located above the voting table. Then click the "Suggest vote" button and select its type from a dropdown list. This will open another form with a specific set of question parameters corresponding to the initiator's expectations. After that, you need to enter the necessary parameters.
- "Instructions to manager" – instruction text, - the question must be asked in a way that will allow other members to respond either with a "yes" or "no".
- "Appointment of a new administrator" – the WMID of the new administrator.
- "Funds distribution" - the number of the income purse and revenue split percentages.
Once all the necessary data have been entered, click "Save". This will add a line with the new vote to the table.