PowerPool Update: Vote Delegation and Q&A
The long-awaited vote delegation function is released. You can start creating your own CVP-based political parties! Learn more about the delegation function and check out our traditional Q&A.
Since the first proposal in the PowerPool governance system, the CVP community has been requesting to implement a vote delegation function into the protocol. It is an exciting option as it allows CVP community members to create real political parties: people like to vote in groups, share opinions with each other, and make decisions together. Political parties are also an essential part of PowerPool’s meta-governance layer.
Today we are proud to announce that the first version of the vote delegation function is successfully implemented into PowerPool governance.
In the current version, it allows CVP holders to:
- To register a personal nickname (for example, Power Forum or Twitter nickname) and bond it to the Ethereum address
- To delegate votes to any CVP holder. A delegate can use all votes, delegated to him for voting or proposal issuing
- To attract votes from any CVP holder(s) and use them for voting or proposal issuing
Future roadmap for Vote Delegation function:
- Add delegation of LP tokens and PIPT tokens votes
- Add L2 delegation (function to delegate tokens on xDAI and Matic chains)
- Implementation of more complex delegation logic
You can check out the delegation function in the PowerPool governance system.
The user flow of the delegation process is observed in this video. Screenshots are below:
Vote delegation to an Ethereum address and nickname bonded to it
PowerPool governance leaderboard
Baby Power Index Q&A
We publish all questions as they were originally written (spelling, etc).
Q: What’s the cap for baby index?
A: The initial cap for the Baby Power Index will be set at $20k. If this cap will be filled, we will expand it, and make it repeatedly. It means that if $20k is filled it will be expanded to $50k, if $50k is also filled the cap will be expanded to $100k, etc.
Q: How long will baby index be live?
A: We see it as an experimental product. First of all, it will act as an MVP version for community testing. So, it will live for a certain period during which testing, bug fixing, and audit will take place. We assume that it will be between 2 and 3 weeks.
Note, that the testing period can be shorter.
After that, we probably will continue to support it, so it will operate for “testnet” purposes. It includes implementations of all new functions and testing them on the Baby version before implementation into the main Power Index.
Q: What’s the deadline to provide liquidity to baby index?
A: There will be no deadline for LP. Anybody can provide liquidity into the index while it is live. Note, that if the decision to shutdown its operation will be made, we will support it until users will pool out all liquidity.
Q: Is there a cap per wallet to participate in baby index?
A: No, there will be no cap per wallet. The logic of such a decision is simple — if the overall cap would be filled, we would continually expand it every time, allowing users to provide liquidity.
Q: How this will work from the tech side? the Baby index will be transformed into the Power index and keep growing or the baby index will be killed and the Power index will be set up?
A: Theoretically, it will be possible to use the Sushi-style approach and move liquidity from the Baby pool to the main one using the PIPT tokens. But, it would work only in the case that the composition of the Baby pool is exactly the composition of the main pool (similar token set and similar weights). As the main pool composition will be defined by CVP holders, nobody knows it yet, and it can differ from the Baby Power Pool composition.
So, we assume that the Baby index will remain operational for testing new functions before implementation into the main Power Index. The main Power Index itself with high probability will be launched without transferring liquidity from the Baby one.
