We've received a lot of feedback from users regarding poorly performing Co-Ops. Some users correctly identified that other users may no longer be using the platform or may have become disinterested in the outcome of Co-Ops in their portfolio that aren’t performing as expected.
To address those concerns, Kickfurther will periodically initiate an affirmative vote to poll users about cancellation and excluding non-voters from the weighting.
The Co-op has exceeded the original estimated completion date
It has been in troubled status for longer than 60 days
It has gone more than 30 days since its most recent payment
For the Affirmative vote, an email will be sent to users directing them to vote yes or no on cancellation.
The outcome of the vote is determined by a majority of the vote based on Co-Op ownership of those users who participate in the vote only. This ensures users who o not participate do not influence the outcome in either direction.
If the majority of votes by Co-Op ownership vote to cancel, the Co-Op will be moved to “cancelled by vote” status and the cancellation process will begin.
If the buyer community reaffirms the Co-op, Kickfurther will not launch a subsequent test of support for at least six weeks. However, buyers may still vote “no confidence”, and a majority of ownership voting “no confidence”, at any time, will result in the Co-Op becoming “Canceled by vote”