[Guides] Voting on Proposals

AirSwap is organized as a decentralized network of contributors using a continuous development process called AirSwap Improvement Proposals (AIP). This process is how the community captures, selects, and prioritizes new projects.

Each proposal is authored by one or more contributors. To “ratify” an AIP as a community proposal, it’s called to vote by the author and voted on by token holders. Once accepted, the AIP is placed in a backlog for selection by developers.

Voting

To participate in voting, your staked AST (sAST) balance will be used to determine the weight of your votes. AST is staked at a 1:1 rate and tokens are unstakeable from 0% to 100% over the course of 20 weeks and locked for the first 4 weeks. Learn how to stake AST with your MetaMask wallet.

Reading up and informing yourself on each proposal is an important part of the process. Proposals can be browsed, reviewed, and contributed to in the Proposal Discussions (AIPs) category on Discourse. Voters can often find additional context on Discord.

To browse and participate in votes, visit the AirSwap governance portal on Codefi Activate. Note that voting is performed off-chain and does not cost gas (ETH). At the completion of each vote that you participate in, you’ll notice the Activate portal has updated your points balance.

Once points are updated, participants are able to claim rewards.

Rewards

By participating in the decentralized governance process, you can earn points, which can be used to claim tokens from the community pool. The community pool is filled by fees assessed on AirSwap trades performed through MetaMask Swaps.

Notes on points:

  • Participants must vote to earn points.
  • Points can be accumulated and do not expire.
  • Points you earn are based on the weight of your vote.

Points can be used to claim tokens from the community pool. Depending on the number of points you use the amount of tokens you can withdraw varies. Amount is based on a formula where “scale” determines the conversion of points to tokens up to a “max” amount.

REWARD = (POINTS * BALANCE / (10**SCALE + POINTS)) * (MAX / 100)

  • Note that POINTS are multiplied by 104 to account for AST decimal places. BALANCE is the balance of the pool to be claimed from. The SCALE and MAX variables are able to be changed by community vote and are currently 10 and 100 respectively.
  • Note that fees are continuously streaming into the community pool and participants are continuously claiming tokens. Due to the dynamic nature of this process, slippage on claims is possible.

You can see the tokens in the pool and calculate potential rewards with this sheet.