🗳️Voting

How to vote on governance proposals

Introduction

Moonwell Governance leverages both onchain and Snapshot governance mechanisms. Users can review and vote on active proposals via "Governance".

Prerequisites

To participate in voting, you will need:

• A Web3 wallet, such as Metamask, Coinbase Wallet, or similar

• A quantity of WELL/MFAM tokens which have been delegated to you*

• Gas tokens are required to vote in MIPs

  • ETH on Base and Optimism, GLMR on Moonbeam, MOVR on Moonriver

  • Note: There are no transaction/gas fees associated with Snapshot Voting

• An active proposal to indicate your preference on

To ensure that votes are counted towards an onchain proposal (MIP), it is necessary to delegate one's WELL/MFAM tokens before the proposal becomes active.

For Snapshot Voting, simply hold WELL or staked WELL (stkWELL) in your wallet prior to the proposal being submitted.

Onchain Voting

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.

Review Proposals

• Navigate to "Governance" from the top navigation bar

• 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

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.

How to Vote

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!

Snapshot Voting

Proposals that do not require upgrades or changes to the Moonwell codebase utilize 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.

Review and Vote

• Navigate to "Governance" from the top navigation bar

• 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

After selecting a proposal, the page will direct to the relevant Snapshot Portal - the Moonwell Base/Optimism/Moonbeam Snapshot Portal, or Moonwell (Moonriver) Snapshot Portal.

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.