Voting

What is voting?

Voting in the DEIN ecosystem presents token holders with an option to actively participate in decision-making processes by expressing their opinions and statements on claims in exchange for rewards and reputation.

How does voting work?

To vote, token holders need to stake their DEIN tokens and lock their Native Staking NFTs in the voting contract. This ensures that only active token holders with staked tokens can participate in the voting process. Voting takes place through the claims assessment page on the DEIN app.

Why do token holders need to lock their staking NFTs?

Locking the staking NFTs is a crucial step to ensure the integrity and security of the voting process. It verifies the token holder's active stake and prevents manipulation or fraudulent voting activities. By locking their staking NFTs, token holders demonstrate their commitment and eligibility to vote on proposals and claims.

What happens after token holders lock their staking NFTs?

Once token holders have successfully locked their staking NFTs, they gain voting rights and can participate in ongoing voting processes. They can fully access the claims assessment page on the DEIN app to view and cast their votes on specific claims.

What are the benefits of voting?

Voting empowers token holders to actively contribute to the decision-making process, ensuring their voices are heard and considered. It promotes transparency, fairness, and decentralization in the governance of the DEIN ecosystem.

Does participating in voting carry any risks?

Engaging in voting poses minimal risks, unless one attempts fraudulent voting or fails to expose their vote in the second phase, which may result in penalties. DEIN ecosystem promotes transparency and fairness, ensuring that genuine participants are duly rewarded and bad actors punished.