Rainbow v2.5 Released with On-chain Governance Support!
On September 26th, Rainbow Wallet v2.5 is released with new function of [voting]. Following is the tutorial on how to participate in the voting:
Why to add a function of voting to Rainbow Wallet?
IRIS Hub supports on-chain governance to achieve a self-evolutionary network. Before a feature of voting which supports on-chain governance is added to the latest version 2.5 of Rainbow wallet, IRIS token holders can only use command-lines to participate in voting for proposals.
Now every address from IRIS Hub can share its opinion via voting on Rainbow wallet. According to the proposal results, IRIS Hub will automatically make a conclusion, which lowers the requirements of participating in the on-chain governance to support more secure decentralization of the network.
IRIS Hub applies Bonded Proof of Stake consensus. IRIS token holders need to delegate tokens to an active validator to vote and participate in the consensus.
- If you have already delegated your IRIS tokens to validators, you can vote directly;
- If you have not delegated your IRIS tokens yet, please check: New Rainbow Tutorial 3: Delegate and Undelegate. After delegation, then you have the right to vote.
How can I vote as an IRIS token holder?
When there is a new proposal, you can open your Rainbow wallet to check the related information and participate in voting (Currently, only the wallet from IRIS Hub supports this feature. For the support of ATOM from Cosmos Hub, it will be included in the future version.). In order to vote, you need to:
- Open Rainbow wallet v2.5, choose [Vote] from the bottom of the home page;
- Enter into the Proposal list, check the necessary information and current voting period of every proposal;
- Choose one of the proposals with VotingPeriod, read the details and click [Vote]; after that, choose one of the following option ([Yes],[No],[Abstain],[NoWithVeto]);
- Click [Confirmation Vote], enter the password, choose [Confirm] to finish voting;
- Check the successful votes in the Voting Records.
