Vote on HIP 2
Hifi Improvement Proposal 2 is live on Snapshot!
Hifi’s biggest ever governance vote is now live. Educate yourself on what’s being introduced. Checkout the blog posts, the lite paper, and the forum discussions.
Ready to vote? Head over to the proposal page on Snapshot.
HIP 2 Overview
- Hifi Protocol Deployment to Ethereum: The Hifi Protocol is ready for Mainnet. After several iterations and audits, the Hifi Protocol stood the test of time on Polygon. A new version of the Hifi protocol will be deployed on Ethereum. The new market will begin on Ethereum in January 2023 just after the last market, currently live on Polygon, expires.
- Hifi DAO: Create a new legal entity, Hifi DAO, and empower HIFI token holders with ownership, control, and the ability to deploy resources. Once deployed, HIFI token holders will control all aspects of these smart contracts. No one, including Hifi Labs, will have the ability to modify the contracts without Hifi DAO Governance approval.
- Ownership: Hifi Labs will transfer ownership of all Hifi-related social, web, and intellectual properties, along with any associated accounts to the newly created Hifi DAO legal entity. Hifi Labs will enter into a two year contract with Hifi DAO with the specific focus of ensuring a smooth transition of responsibility to Hifi DAO and fueling growth of the Hifi protocol.
- HIFI Token Swap: MFT will be swapped for HIFI at a rate of 100 MFT to 1 HIFI. 100M HIFI Tokens will be redeemed by MFT token holders. As previously announced, 1.25M HIFI tokens will be airdropped to MFT holders who have participated in Governance votes, inclusive of this proposal. 25M HIFI tokens will be allocated to Hifi Labs, vesting linearly over 2 years. The total supply of HIFI will be 126.25M Tokens.
How to Vote
Requirements:
- Metamask, Wallet Connect, or other wallet supported by Snapshot.org
- MFT tokens
Step-by-step Instructions for Snapshot
To begin, you will need MFT in your wallet. There are no gas fees involved as you will simply be signing a message.
Step 1. Go to the proposal page
Once you are on the Snapshot website, connect your wallet by clicking on “Connect to a Wallet” in the top right corner.
Confirm this interaction in your wallet.
Step 2. Cast your vote
Before voting, make sure to read the proposal and to read the linked topic on the Hifi forum. Given Hifi’s governance system is a democracy, the quality of the decision-making depends entirely on the quality of the thought process backing the votes of MFT token-holders.
Select one of the available voting options, and click on “Vote”. Next, confirm the message signature within your wallet.
Airdrop
As a reminder, all who participate in this governance vote qualify for an upcoming token airdrop. 1.25M HIFI will be distributed to participants who vote on HIP1 and HIP2. The amount you receive will be based on how much MFT you vote with.
Vote Timeline
The vote window will be open for 72 hours. Head over to Snapshot to lock in your vote as soon as you’re ready!
