Attention! Changes to the voting rules will be introduced:
- SWOP tokens that are counted in the voting results become frozen: you will not be able to unstake them until the end of the next voting period.
- During a voting period, the power of incoming votes gradually decreases: the later you vote, the less influence you have on the outcome.
The revised rules come into force on April 26, following the end of the current voting period.
Pool weights directly affect the liquidity providers’ income. Farming rewards (1 million SWOPs during the first year, or about 1.9 SWOPs every minute) are distributed among the pools in proportion to their weights (see details in the SWOP is here article). Until now, the pool weights were set by the project team. Now they are managed by the SWOP holders who staked their SWOP tokens to the governance.
Voting for pool weights is an essential procedure. The voting establishes which pools will bring more significant revenue over the next week. These pools will be the most attractive for liquidity providers. Therefore, the voting results will largely determine the further development of the project.
When choosing the pools you will vote for, consider their worth to Swop.fi in general:
- The pools that generate the most exchange fees are the most beneficial as 40% of the fees go to the SWOP buyout and become the governance reward.
- Stablecoin pools serve an infrastructure function: in particular, they reduce the entry threshold for new users who come from other blockchains with such coins as USDT and USDС.
Voting results are counted once a week and set the pool weights for the next 7 days.
How voting proceeds
To be able to vote, first, stake your SWOP tokens on the Investments → Governance tab.
Then you can vote for the pools of your choice, specifying the number of SWOPs for each of them.
At any time, you can change your mind: assign another number of SWOPs or set it to zero. For example, if you have staked 20 SWOPs and voted for the SWOP-USDN pool with all of them, you cannot vote for other pools until you change this number or stake more SWOPs. If you set 10 SWOPs for this pool, you can split the remaining ten between other pools: say, 7 SWOPs for WAVES-USDN and 3 SWOPs for NSBT-USDN.
Please note: you cannot unstake voting SWOPs. First, you need to decrease the number of voting tokens.
The voting for pool weights is permanent: you can vote once, and your vote is automatically taken into account in all subsequent votes until you change it.
How the results are counted
At the height of the counting, Swop.fi sums up the amount of SWOPs voting for each pool by all SWOP stakers:
and calculates the weight of the pool:
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