Conviction Voting is the governance system in which GIVers create proposals to request funds from the Common Pool.
GIV can be staked on these proposals to signal approval of the request. Staked tokens accrue voting power, or Conviction, continuously over time. The amount of tokens currently voting on all proposals in Conviction Voting is represented by the term Effective Supply. The logarithmic function that decides the rate at which Conviction accumulates is Conviction Growth.
This is the real power behind the GIV token. GIVers have a direct impact on deciding the Future of Giving by reviewing projects and voting on which initiatives get funded and how much GIV they receive.
The Spending Limit sets the maximum percentage of the Common Pool funds that can be requested by a single proposal. The Minimum Conviction dictates how many GIV are needed to pass a proposal, no matter how small the amount requested.
If you need more information please check the links below:Conviction GrowthSpending LimitMinimum ConvictionDisputing and Celeste