Governance Model — CFX Voting
All protocol changes and funds that are used to develop the ecosystem will be ultimately governed by the DAO. All Conflux ecosystem participants can obtain voting rights by locking up their tokens for a certain period of time. The voting rights will be awarded as such:
number of quarters × number of tokens × 0.25
- Locking maturity less than a quarter: No voting rights
- Locking maturity more than a quarter: One CFX has 0.25 vote
- Locking maturity more than half a year: One CFX has 0.5 vote
- Locking maturity more than a year: One CFX has 1 vote
While tokens are locked to obtain votes, users retain the right to staking interest. They cannot withdraw the tokens or decrease the locking duration once tokens are locked up.
CFX voting website: https://www.confluxhub.io/
Staking CFX in Confluxhub Governance Platform
1 - Go to https://www.confluxhub.io/
2 - Click on the Governance icon in the left hand project bar to go to the Governance Dashboard
3 - Click on Connect Wallet in the top right hand corner to link to the wallet
4 - Enter the number of CFX to be staked and click Stake to complete the stake
5 - Click Lock for lock operation and enter the number of locked cfx to exchange for voting rights. Voting rights will be granted according to: number of quarters x number of tokens x 0.25
6 - Selecting a lock-in period. CFX lock-up periods are available for one quarter, six months and one year. The shortest period is one quarter (91 days) and the longest period is one year. Number of quarters x number of tokens x 0.25 = voting rights
7 - Click Lock to finish locking and get voting rights after successful locking
8 - Click on extend locking period to increase voting rights by extending the locking period and click on add locking amount to increase the number of cfx pledges and increase voting rights.
- Once a lock has been applied, subsequent locking can only be done [by increasing the number of tickets] or [by extending the time].
- You cannot reduce the last commit time or the number of cfx, so you can only increase the number of votes by locking them for a longer period.(If I have locked for 1 year, I cannot change /reduce the lock period)
- After locking, there are only two independent actions that can be taken afterwards.
- increase the number of tickets only, without extending the time
- add time without adding votes
Therefore, if you want to participate in multiple rounds of voting for a project, it is recommended that you use separate wallet addresses for different projects or multiple votes for a single project.