Terms and Conditions: Vision Improvement Proposal #1
1. General
The following terms and conditions (“Terms”) govern the rules for participating in the “VIP-1: Vision Improvement Proposal #1” (“Promotion” or “Vote”) of the VISION Web3 Foundation and Bitpanda GmbH (“Bitpanda”) (jointly the “Organizers”) and the resulting legal relationship between the Organizers and any persons participating in the Vote (“Participant”).
By participating, you provide unconditional acceptance of these Terms and any other applicable terms. This Vote is a proposal to adjust VSN tokenomics, specifically reducing annual emissions from 5% to approximately 2.5%.
2. Duration
The voting window for Community Governance #1 will open on the 11th of May 2026 and will remain accessible for seven (7) days (“Voting Period”).
3. Eligibility and Voting Power
Entry to voting on the Bitpanda Broker is open to fully verified and registered Bitpanda Clients who hold or stake VSN tokens.
Entry to voting on the Vision Wallet is open to registered Vision Wallet Clients who hold or stake VSN.
• Token-Weighted System: The vote operates on a weight of 1 VSN = 1 Vote.
• Qualifying Assets: This includes both staked and unstaked VSN held within your Bitpanda wallet or Vision Wallet at the time of the vote.
• Participation Requirement: VSN tokens, held in custody on the Bitpanda Broker during the Vote and belonging to users who do not cast a vote, shall be counted towards Abstain due to the technical architecture of the third-party on-chain voting platform.
4. Voting Channels
Participants may cast their vote through one of two primary channels:
• Bitpanda Broker: VSN holders and stakers can vote via an interactive In-App Story poll located in the Bitpanda mobile app.
• Vision Wallet: A dedicated "Governance" section will allow Participants to read the full proposal and cast their vote on-chain.
5. The Proposal
The core of this governance vote is a strategic adjustment to the VSN economic model: Reducing the VSN token annual emission rate from 5% to 2.5%.
Participants will be presented with the following ballot options:
FOR (YES) – confirm the reduction to approximately 2.5% emissions;
AGAINST (NO) – maintain the current 5% emission rate; or
ABSTAIN – signal participation without a preference.
6. Transparency and Implementation
• Real-Time Tracking: A third-party platform snapshot.org will be used to facilitate the onchain voting. A dashboard will display the real-time distribution of "Yes" and "No" votes for participants.
• Aggregation: Votes cast through the Bitpanda Broker app will be collected and added to the on-chain total through delegated wallets to ensure all Participant voices are represented in the final result.
• Binding Result: If approved by a majority of the weighted votes, the emission adjustment will be implemented via a smart contract update in the following staking cycle.
7. Disqualification and Liability
Bitpanda reserves the right to disqualify any Participant suspected of manipulating the voting process through technical exploits or collusion. Bitpanda is not responsible for technical errors that may prevent a vote from being recorded on-chain or through the app.
8. Data Protection
All data processing is carried out for the purpose of establishing the legal relationship with the Participant and processing the Vote. By voting via the Bitpanda app, you consent to your weighted vote being aggregated and represented in the public on-chain governance tally.