How to vote on governance proposals
To participate in voting, you will need:
- A Web3 wallet, such as Metamask, Coinbase Wallet, or similiar
- GLMR/MOVR tokens for transaction fees (gas). Note: This is not required for off-chain Snapshot Voting)
- An active proposal to indicate your preference on
Your WELL/MFAM must be delegated prior to a proposal becoming active in order for your votes to count toward the current proposal.
Once a Moonwell Improvement Proposal (MIP) has made it through the proposal process and been submitted, it will be featured in "Governance". To view all current and former MIPs, select the "Onchain Proposals" subcategory.
- Select an active proposal
- Each proposal will be assigned a range of status and identity labels, allowing for easy identification of proposals that require attention. These labels include the current status of the proposal (Live, Quorum Met, Succeeded, Executed), as well as the network on which the proposed changes will be executed.
In this example, MIP-M03 is highlighted
After selecting a proposal, the main components of the proposal will be shown.
Proposal pages are designed to provide a comprehensive overview of the details associated with each proposal. They contain:
- Voting Options: Users with delegated WELL/MFAM tokens can cast their vote directly from the proposal page. The voting options available are "For", "Against", and "Abstain". Voting power is shown above these options, or by navigating to "Voting Power".
- Voting Metrics: The data displayed includes the current distribution of "For," "Against," and "Abstain" votes, as well as the quorum status and the number of WELL/MFAM tokens used for voting. By monitoring these metrics, users can gain insight into the overall sentiment towards a proposal.
- Timeline: Each proposal page includes a timeline that outlines key stages, such as proposal creation, remaining voting time, timelock period, and execution time. The voting timeline establishes a clear deadline for casting votes and informs the community when proposals have been executed onchain.
- Proposed Contract Calls: Proposed contract calls are displayed both in flowchart and raw code forms, allowing users to review the intended changes in a visual and programmatic manner.
- Full Description: Every proposal includes a comprehensive breakdown, providing an in-depth discussion of the proposed implementation or change(s). This breakdown typically encompasses the rationale, expected impacts, and other pertinent information related to the proposal.
It is advised that users carefully review all the information provided on the proposal page before casting a vote, to ensure they fully understand the implications and potential effects of the proposal.
If a proposal is currently live for voting, it will be tagged as "Live". To filter for "Only Active" proposals, simply check the box to the right of the "Governance" page (shown below).
Look for "Live" labels and/or filter by "Only Active"
To vote, simply click on the desired voting direction - "For", "Against" or "Abstain".
For the sake of this guide, we will vote "For" this proposal.
- Select a voting direction and approve the transaction via wallet.
- After the transaction is completed, the selected voting direction will be displayed for the proposal, and a confirmation will be shown.
Select your voting direction and confirm the transaction via wallet
Note that you can only vote once per proposal. Make it count!
Proposals that do not require upgrades or changes to the Moonwell codebase utilize off-chain Snapshot voting.
Once a Snapshot Vote has been submitted to be voted on by the community, it will be featured in "Governance". To view all current and former Snapshot Votes, select the "Snapshot Proposals" subcategory.
- Select an active proposal
- Each proposal will be assigned a range of status and identity labels, allowing for easy identification of proposals that require attention. These labels include the current status of the proposal (Live, Closed), as well as the relevant network.
In this example, "Warden <> Moonwell Aerdrome Liquidity Manager" will be chosen
Connect a wallet with your delegated WELL/MFAM tokens to the Snapshot Portal, cast a vote using the given options, then click on the "Vote" button, and approve the message via wallet.
To vote, simply connect a wallet with delegated WELL/MFAM tokens and select one (or several) of the choices presented in the proposal.
If the proposal involves multiple choices that need to be ranked according to user preference, the "Vote" button will only become clickable and unlock once all options have been selected.