As the protocol becomes more decentralized, it is key that the community’s participation in governance is at a high level, and that each proposal is considered carefully. To that end, Alchemix recently introduced a minimum quorum of 50k ALCX. To aid in achieving quorum for governance, an ALCX vote delegation system has been set up as well.
These days, it is often difficult for people not directly involved in the protocol, and/or for people that are not paying close attention, to properly assess governance proposals. For this reason, we encourage everyone that does not have the time or inclination to participate in governance to delegate their voting power to one of the community delegates.
We also highly encourage community members who want to become delegates to post a short message in this forum post so others know 1) who you are and what you stand for, and 2) to which address they can delegate to. The template is provided below. The protocol will also be compiling a list of active delegates for easy reference. Posting here is not required - anyone wishing to be a delegate may advertise in any way they see fit.
Please note there are no additional rewards, financial or otherwise, for delegates. Alchemix core team members and active DAO contributors are not eligible to become delegates.
How to delegate your ALCX voting power
Delegating your ALCX voting power requires a single transaction. There are no limitations and/or locking mechanisms when you delegate your voting power. You can always use your tokens how you see fit.
Here’s how to set a delegate:
- Choose a delegate from the below list. Feel free to ask delegates questions on Discord in case you want to learn more about them.
- Go to the governance page in the app and connect your wallet.
- Copy your delegate’s ENS name or ETH address and click “Delegate”. This is an on-chain transaction that will cost a small amount of gas.
That’s it! Your voting power is now delegated to the person of your choice.
You can always remove the delegation or change delegates at any point in time. And, if there is a proposal you feel strongly about, you can always cast your own vote on Snapshot - your direct vote will take priority over your delegated voting power.
Apply to become a delegate
Anyone can become a delegate, but active community members are preferred.
Interested? Please reply to this forum post using the following template:
Name: (and/or Discord and Twitter handles)
Delegate address: (ENS name or ETH address)
Short intro/background: (please keep it brief)
Other DeFi roles: (e.g. contributor or delegate for other protocols, to highlight your experience as well as potential conflicts of interest)