My Votes
How to Lock, Vote and Earn with mpDAO
Last updated
How to Lock, Vote and Earn with mpDAO
Last updated
mpDAO Vote is the governance tool for the Meta Pool DAO, where token holders define:
Which Grants to fund (monthly protocol fees)
Which validators should receive extra stake (25% of the total NEAR stake)
Which project to launch in the Launchpad (Returning soon)
What proposals should be considered. MPIPs (Meta Pool Improvement Proposals).
(Soon) How the mpINDEX is composed
You can access mpDAO Vote directly from its link www.metapool.app/vote.
Meta Pool is Multichain, so first choose the network you wish to connect to.
To participate in Meta Pool Governance and receive rewards, you can connect to the NEAR network and/or the Ethereum network.
Once you have chosen the network you want, connect your wallet so that you can have full access to your assets.
You can have 1 wallet connected per network. To operate with each network, you will have to change network each time in the selector at the top right of the metapoo.app page.
Congratulations, your wallet is connected. You can now participate in the Meta Pool DAO.
Lock your mpDAO tokens
Get voting power
Vote for validators, Grants, MPIPs, or projects in the Launchpad to get rewards.
In order to be able to vote you must obtain Voting Power and it is very simple. The way to do it is by locking your mpDAO tokens.
If you don’t have mpDAO tokens yet – you’ll need some! See "How to get mpDAO tokens" Section.
Go to The Voting Power Dashboard for more information.
Click on the button title + Add Voting Power
The component for locking mpDAO opens.
Enter the amount of mpDAO tokens you want to lock.
Select the "Unbonding period" for the unbond of your tokens with the slider. This is the Unbond time for your mpDAO tokens. Once you decide to unbond, you will have to wait that number of days in order to withdraw your mpDAO tokens.
The minimum amount of days for the unbond period is 30 days, and max is 300 days. The longer the unbond period, the bigger your commitment to the DAO, and then the more voting power you have for each mpDAO token locked. For 30 days of cool-off period, you have 1x multiplier, if you choose 300 days you get 5x multiplier in your voting power.
Ready, you can now press the Lock button, approve the transaction in your wallet and you have your Voting Power.
Congratulations, now you are ready to vote.
Go to the "Lock Position" tab to view your locked positions.
Use voting power to vote for the different options the Meta Pool DAO offers.
Go to the section you want vote (Grants, Validators, MPIPs, Lauchpad), see the voting power, select what you want to vote and VOTE!
You can then use the "Vote" button on any project/validator/grant and back them with your Voting Power. Additionally, you don’t have to spend all your tokens on one vote option, you can back multiple ones! IMPORTANT: Not all voting options are always active. It will depend on the moment which options are enabled.
Grants: Vote to finance the grants proposed by our community.
MPIPs: Supports DAO proposals.
Launchpad: Back projects with your voting power.
So people committing an unbound period of 30 days will get 0,5x voting power, while others committing an unbound period of 300 days will get 5x the voting power (ten times more).
Voting Power depends on the amount of mpDAO with a multiplier depending on your commitment. If you select the minimum 30 day unbonding period (cool-off period for unlocking), the multiplier is 0.5x, if you select 300 days unbonding period (cool-off period for unlocking), the multiplier is 5x.
Example
The Lock stage is the one that allows you to vote on Meta Pool DAO. mpDAO tokens are locked and users can vote for projects or validators at any time. There is no time limit for this stage. Voting power will be available as long as mpDAO tokens are locked.
If you decide to stop participating in the DAO and remove your tokens or partially remove your tokens, you can start the unbonding period. By pressing the "Start Unbonding" button in a locked position, the unboding period will start. The unboding period is the number of days selected at locking time.
Important: the ubonding period does not start automatically, it must be manually started by the user by clicking "Start Unbonding".
If there is voting power in use and not enough free voting power to unbond a full position, you will not be able to start the unbonding period. Remove some of the votes to start the unbonding period. Reminder: It is not necessary that the total amount of time chosen for the $mpDAO unbonding period has passed. You can start the unbonding process whenever you want or need, even if only two hours or two days have passed. Unbondig demo video https://drive.google.com/file/d/1r8tV6w5VZNW-uWXiZA5y78HdSeftmomb/view?usp=sharing
At any time during the unbonding period, you can relock your position and gain the voting power corresponding to the days left. You can use the votes and then resume the unbonding period later.
Once the unbonding period is over, mpDAO tokens can be withdraw. See the Withdraw button in the Unlocked Position (The withdraw button only appears if there are positions to withdraw).
Follow the instructions. Click on "Yes"
Validators: You can now vote directly the validator of your choice. Just click on the “vote” button of the validator of your choice, or select the validator you want to support, read all information regarding to this validator and vote for it. You can support multiple validators, not just one.
In the Votes tab you will be able to see your votes and what options Meta Pool currently offers you to vote.
