mStable guide series. This is part of a series of “how to guides” that will cover the basic mStable product suite, before getting into more advanced topics.
In a previous post, we explained how you can stake MTA and participate in protocol governance. A new governance dashboard and proposal system is currently planned for release in 2021 which will allow automatic protocol parameter changes and actions.
In the meantime, community governance is executed off-chain by a gas-free platform called Snapshot, where we have a hosted space for proposals, voting and execution.
Getting ready to vote
Before proposals are sent to Snapshot, they need to be signalled in the forum for community interest.
To participate in voting and governance, you need to have MTA staked (see this guide) and your voting power depends on how much MTA is staked and for how long.
Active proposals for voting
Active proposals can be seen on Snapshot with an Active identifier. This means that the poll is ongoing.
Clicking into each item will expand the proposal with key information such as details, start and end date and current results.
Voting process
To vote, you’d need to first connect your wallet that has MTA staked. Click on Connect wallet and authenticate with your preferred wallet.
Once done, scroll down to the bottom of the proposal and you will find a section to cast your vote.
Select your preference and click vote.
You should see a transaction action for you to sign (gas-free).
Click on Sign to proceed.
Once done, you should see your voting preference in the list of votes.
Conclusion
This initial implementation is a preview of how governance and voting would work when staking V2 and a new governance dashboard and portal is released.
We also hope to incentivize an active community of governors to govern the protocol. Do watch out for upcoming community initiatives coming your way soon.
