Will help the team to fine tune the governance system.

This is the first opportunity to participate in the xPOLYCUB Governance, which is going to expire soon. This post has all the details and I did have a look at this post, but I was not quite motivated because, it said voting is stake-weighted based.

Voting is stake-weighted based on how much xPOLYCUB you hold - the more xPOLYCUB in your wallet, the more valuable your vote will be

Given that I hold only 361.231 xPolyCub (which is just 0.19%), I thought, it won't have any significant impact. But then this conversation made me rethink on my decision. I am not an expert to derive the kind of data that @onealfa extracted, but what that image told me that, actually more number of tiny accounts have raised their voice. This is a good sign of a community, so I also decided to go ahead and cast my vote for a 30 Days claim window. Since this is stake based voting, the whale support for a particular tier can change everything at the last moment, I guess. I would have preferred a layered stake based voting - so that small accounts collectively could also do big impact.

Now coming to the actual process, its pretty straight, if you use only one Metamask account - refer this post , I wish, @leofinance should have added a timer to let people know the exact time when it ends. If you can do it now also, that will save people in last minutes.

Once you open the Metamask wallet, and paste the Governance Address, it prompts you to add to your address book. I have added it to be able to participate in future, if it is needed. The team says Future votes will have a frontend in place, so we may not need this, but its ok to save it, for reference.

You should make sure you cast your vote from your address holding xPOLYCUB tokens - again, if you are using just one Metamask address then you should be good. To double check, just copy the address from your Metamask wallet and put on a text editor. And then copy the wallet address to which https://polycub.com/staking is connected and paste under the previous one. They should be exactly same.

I am in favor of a 30 Days claim window, and it sounds reasonable. The reason for that is , 90 day claim window does not sound interesting to me at all - it can have a negative impact because of volatility. Cub, PolyCub are good examples themselves. 30 days is a medium time frame, that helps one to visualize when he is going to claim and plan accordingly. And 15 days or less may give opportunity to manipulate the market fast. So 30 days seems the best option and I think, many are going for this.

Confirm in the next screen.

It may show as Pending, and you can speed up by putting high gas fees, but for me it got confirmed in few seconds.

That was it. As I said, even though, I was not very much interested to vote because of my tiny stake, after seeing the figure I realized, we are helping the team to fine tune the governance system, by casting our vote. In that way, we are helping the team to test this new feature, that will bring confidence for them to roll out more features faster, which they already have pre-built - a help from the community. There is already a glimpse of the Governance UI, that the team is polishing for the next governance vote, so I am sure, next time we will have it much simpler.

Posted Using LeoFinance ^Beta