Pegaxy Launches Themis Governance Platform

By: Earl Carlo Guevarra | May 27, 2022
Pegaxy Launches Themis Governance Platform

In an arguably exciting chapter for Mirai Labs’ Pegasus Galaxy (Pegaxy), which is considered to be among the top Polygon P2E games at the moment, the company has launched Themis.

 

Themis is a governance platform that would allow investors to propose solutions and pitches for the Pegaxy metaverse.

 

As a governance platform, Themis aims to bridge the distance between the development team and its end users; it provides an avenue of discussion and serves as a sounding board for ideas that could be used to improve the quality of the game.

 

How do I propose on Themis?

 

Here are the steps needed to propose on the Themis interface:

 

  • An account should have at least $500 worth of PGX coins to submit a proposal. This represents a significant investment, especially considering the state of the P2E market at the moment.
  • Proposals would be screened by the Pegaxy team beforehand. This step avoids multiple submissions on the same topic and prevents low-quality, offensive, or meme proposals from getting through the platform.
  • A proposal should state a problem and an appetite that illustrates the need for solving it (basically what would be called in layman’s terms a “rationale”). In addition, the said submission should display a solution, address possible rabbit holes, and warn of potential “no-gos” if necessary.
  • The team checks the proposal, and it’s published on Themis afterward.
  • After a certain amount of time, voting opens. An account is required to hold at least 1 PGX to vote. This requirement ensures that everyone on the Pegaxy ecosystem is able to vote for the changes that they want to potentially see.
  • Those who want to discuss the proposal in the comments section should possess $100 worth of PGX at that very moment. This requirement ensures that the users who would comment on a certain proposal are among those who are invested in the game for the long haul.

 

Common questions on Themis

 

1. Does Themis govern Pegaxy? It does not control Pegaxy, and it only serves as a community voting and sentiment platform.

 

2. How are votes calculated? Initially, Themis takes direct PGX vs. PGX values for simplicity purposes. However, in the future, voting formulas will be introduced.

 

3. Does a winning or losing proposal guarantee implementation? Not exactly. Themis is a moderated and centralized platform designed to give the community a singular point of discussion for in-game proposals. Decentralization of Pegaxy is many years away, and guaranteeing the implementation of submissions in the current stage is highly ineffective.

 

4. Once I submit my vote, can I change it? Yes, it is possible to change votes if the countdown timer on the proposal has time remaining. Once the timer hits zero, votes will be snapshotted, and you will no longer be able to change your vote.

 

5. How do I know the team did not manipulate a vote? All team wallets are registered and visible on Themis. When a team member comments, votes or submits a proposal, the community will be able to see this via an “earmark” on the proposal, comment or vote.

Initial Thoughts on Themis

 

While it’s true that Pegaxy is currently enduring a bear market, developments like Themis allow the game to position itself as a possible leader in the P2E space in the foreseeable future.

 

At the time of writing, one PGX was worth $0.03, while VIS was at $0.00015. To put it into perspective, you have to get around 200 VIS to have one PGX.

 

What do you think of Themis? Do you think it will help Pegaxy in the long run?

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