Conflux CFX governance voting tutorial

First, pledge course

The pledge interface contains pledge, extract and lock operations. After logging into the wallet account, users can pledge CFX through the pledge operation. After the pledge, CFX can be extracted back to the wallet through the extraction operation, and CFX can be locked through the lock operation to obtain voting rights.

The user can select the language in the upper right corner of the pledge interface.

1. The pledge

The left side of the interface is the operation area of pledge and extraction, and the amount of pledge is displayed as the value in the wallet. The pledge and withdrawal area can be understood as demand deposit, and users can pledge and withdraw at any time.

(1) Users can directly click the maximum amount pledged, or enter a specific amount in the input box below, and then click “Pledge”. It is important to note that there is a gas fee for issuing transactions and you should keep at least 1 CFX balance in your wallet.

(2) Click “Pledge” and the confirmation request interface will pop up. Click “Confirm” and the system will generate transaction hash.

At this time, the amount of pledge decreases, and the amount of extractable and available lock increases. The upper wallet balance and the amount of pledge also change accordingly.

Extracted 2.

(1) The user can extract the amount of pledge back to the wallet through the extraction operation, and the extraction value cannot exceed the available extraction amount.

(2) Click “Extract”, the confirmation request interface will pop up, click “Confirm”, the system will generate transaction hash.

At this time, the amount of pledge increases correspondingly, and the amount of extractable and available lock decreases. The upper wallet balance and the amount of pledge also change accordingly.

3. The lock

(1) Users can lock a certain number of CFX through the locking operation and get voting rights. The locking value cannot exceed the number of available locks. Users can view the total number of votes in the final vote. Lock-up can be understood as a time deposit, once locked, it cannot be withdrawn during the lock-up period.

The lock-up period includes half a year and one year. It should be noted that the half-year lock can be changed to one-year lock, but the one-year lock cannot be changed to half-year lock. Lock-in expiration time more than six months: 0.5 votes for a CFX lock-in expiration time more than one year: 1 vote for a CFX

(2) After clicking “Lock”, a confirmation box will pop up. After clicking “Confirm”, a confirmation request interface will pop up.

(3) Click “OK”, the system will generate transaction hash.

The number of extractable and available locks decreases. The top lock and current voting rights have also been changed.

(1) Amount of pledge: In order to guarantee the gas fee needed for transaction, keep at least 1 CFX balance in the wallet.

② Statement of pledged CFX earnings: does not include the interest that has been withdrawn. Interest on the pledge will be automatically sent to the wallet address each time it is withdrawn.

Note on current voting rights: The calculation formula of voting rights is the number of quarters × number of tokens ×0.25. We calculate “time” in blocks based on an assumed number of blocks 63,072,000 per year. When contemporary coins are locked up for voting rights, users retain the right to earn interest. Votes can be locked up for a maximum of one year. When contemporary coins are locked out for voting rights, users cannot withdraw their tokens or shorten the lock-up period.