# kaal:claim:4685567-020

**Claim.** The two stage vote is the mechanism that produces consensus: a non binding test vote reveals how every donor assesses a project, after which donors can change their minds in the formal vote where their reputation tokens are at stake, and in practice decisions are made with unanimity.

**Type.** mechanism  **Support.** argued

**Holds when.**

- reputation tokens are staked in the formal vote
- the chosen WEB3 decentralized governance design

**Source quote.**

> Once every donor sees how all other donors assess the given project, they can jointly change their minds during the "formal vote" in which their respective reputation tokens are at stake. Typically, in this form of decentralized governance, all decisions are made with unanimity.

**From.** Wulf A. Kaal, *Impact Investing Innovation - From Impact 1.0 to 3.0* (2024), Impact 3.0, page 34

**Cite as.** Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

**Verify.** sha256 of source PDF `87fb1be89d2661967ed2b0b673fe26448ded3bc3119b122177a4fc13ae5c085c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202024%20-%20Impact%20Investing%20Innovation%20-%20From%20Impact%201.0%20to%203.0.pdf

**Topics.** governance-design, reputation, decentralization

**Keywords.** two-stage-voting, reputation-staking, unanimity, decentralized-governance, crowd-wisdom

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/4734750-029
- extended_by: https://wulfkaal.github.io/claims/4755632-034
- supports: https://wulfkaal.github.io/claims/3981021-027

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.