To participate in voting, your staked AST (sAST) balance will be used to determine the weight of your votes. AST is staked at a 1:1 rate and tokens are unstakeable from 0% to 100% over the course of 20 weeks and locked for the first 4 weeks.
Reading up and informing yourself on each proposal is an important part of the process. Proposals can be browsed, reviewed, and contributed to in the Proposal Discussions (AIPs) category on GitHub. Voters can often find additional context on Discord.
To browse and participate in votes, visit the AirSwap governance portal on Codefi Activate. Note that voting is performed off-chain and does not cost gas (ETH). At the completion of each vote that you participate in, you’ll notice the Activate portal has updated your points balance.
Once points are updated, participants are able to claim rewards.
By participating in the decentralized governance process, you can earn points, which can be used to claim tokens from the community pool. The community pool is filled by fees assessed on AirSwap trades performed through MetaMask Swaps.
Notes on points:
Participants must vote to earn points.
Points can be accumulated and do not expire.
Points you earn are based on the weight of your vote.
Points can be used to claim tokens from the community pool. Depending on the number of points you use the amount of tokens you can withdraw varies. Amount is based on a formula where “scale” determines the conversion of points to tokens up to a “max” amount.
REWARD = (POINTS BALANCE / (10**SCALE + POINTS)) (MAX / 100)
Note that POINTS are multiplied by 104 to account for AST decimal places. BALANCE is the balance of the pool to be claimed from. The SCALE and MAX variables are able to be changed by community vote and are currently 10 and 100 respectively.
Note that fees are continuously streaming into the community pool and participants are continuously claiming tokens. Due to the dynamic nature of this process, slippage on claims is possible.
AirSwap Recently introduced a staking feature for token holders. Now you can stake AST and earn rewards for participating in the decentralized governance process. Below I will show how you can easily stake your AST with MetaMask Wallet.
Note there will be two transactions: one is for permission & the second one transfers your tokens to the staking contract.
The dashboard will look like this one below.
Once you've voted, you'll notice your points have increased.
You can choose from your favorite tokens.
You will need to download and install MetaMask on your mobile (https://play.google.com/store/apps/details?id=io.metamask&hl=en&gl=US)
Once your MetaMask mobile wallet is set up, click the voting page link and open it with MetaMask
Read through the AIP and make sure you understand what you are voting for
Select your choice to vote for
It should prompt you to connect your wallet
Cast your vote!
You will have to sign a message to confirm the vote. (This does not require you to pay any gas fees)
Congratulations on participation! You will receive your points after the vote is completed.