Lattice governance: creating and voting on proposals
As regulatory scrutiny intensifies across all cryptocurrency based projects, a focus on decentralized development and decision-making becomes paramount to the viability of any project.
DeFi has evolved governance to attach incentives for community growth and contribution through proposals. Additionally, it has aligned project liquidity goals with the dissemination of control of the future of the ecosystem.
In Lattice v2, $LTX must be locked and converted to veLTX to initiate or vote on proposals. This provides users the opportunity to control the direction of the project and determine the associated reward mechanisms, while requiring them to put down substantive value to minimize the likelihood of the platform being co-opted by malicious actors and to likewise minimize the need for centralized control.
How to participate in governance
Users may participate in governance of the Lattice platform by first obtaining veLTX.
Check out the article here on how to lock your $LTX tokens and obtain veLTX.
Once you have your veLTX tokens, you may visit the Lattice platform and click on the governance icon in the left menu area. Clicking this will take you to a stats page:
From this page, you will click “Vote” in the top menu area. This will take you to the Lattice proposal and voting application on snapshot.
Once in the snapshot application, you will need to connect your wallet with your locked LTX and click the Join button on the left.
On this page you can see any new proposals you can vote on, and you’ll have the ability to create a proposal.
Clicking on a proposal name takes you to the details page for that proposal with a description of the proposal and the ability to vote on it.
You receive 1 vote for each veLTX you hold. Proposal voting periods have various start and end dates but typically last one week.
Users may vote on projects that would like to participate in the launchpad, on the percentage share of fees that veLTX token holders will receive from a particular launchpad event, or on many more items associated with the Lattice platform.
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