Are you ready to dive into the exciting world of Equinox voting and the Bribes Market? This guide will walk you through the simple steps to maximize your impact and earn rewards.
Step 1: Getting Started
1. Visit the equinox page
2. Connect your wallet
Step 2: Claim your Tokens
You can claim your ECLIP and bECLIP tokens from this page under the positions section. Make sure the "Include Lockdrop Positions" checkbox is active if you haven't yet claimed your lockdrop related rewards.
bECLIP grants you immediate voting power and no further action is required. While you can stake your ECLIP here, If you wish to boost your voting power. The more you stake, the more influence you have.
Step 3: Voting Process
Each voting epoch has a set timeframe. After claiming your tokens, head over to the Voting Page from the top navigation. Here, you have two main options:
- Manual Voting: Take the reins and directly allocate your votes to your preferred pools. You can adjust your manual votes throughout the voting period.
- Delegation Vault: Sit back and relax! Deposit your voting power into this vault, and it will automatically distribute your votes to high-bribe pools.
Voting Dynamics
Equinox's innovative voting system rewards active participation. If you don't vote, your voting power is redistributed to active voters. 80% of unused voting power is redistributed to those who participate. This means:
If 50% of voters choose not to vote, the voting power of the other 50% increases, giving more weight to their votes.
This redistribution ensures that active participants have a greater impact, adding an incentive to engage. So, the more you participate, the stronger your voice becomes.
Voting Periods and Adjustments
- Voting Epochs: Voting occurs in fixed time periods called epochs.
- Dynamic Voting Power: Your voting power fluctuates based on your activity and the activity of other voters.
- Vote Adjustments: You can adjust your manual votes throughout the voting period.
- Vote distributions: Since votes are only finalized at the end of each period, Equinox will simulate the final vote distributions so you can see how your choices impact the pools.
- Delegated Voting Adjustments: The delegation vault adjusts votes each epoch, redistributing to high-bribe pools with a balanced approach. Bribe Markets will not be live in the first epoch.
The Equinox Bribes Market
The Bribes Market adds an exciting layer to the voting process. Here's how it works:
- View Bribes: See which pools are offering bribes to attract voters.
- Claim Bribes: By voting for bribe-supported pools, you can earn rewards.
- Set Up Bribes (For Projects): Projects can whitelist pools, add tokens, and allocate bribes to different pools. This helps drive participation and create a dynamic bribe marketplace.
Maximize Your Impact
- Stay Informed: Keep up-to-date with the latest information on pool performance, project updates, and bribe offers.
- Participate Actively: The more you vote, the greater your impact on the ecosystem.
- Utilize the Delegation Vault: For a hands-off approach, let the vault handle your voting decisions.
- Consider Bribes: Align your votes with pools offering attractive bribes to maximize rewards.
By following these steps and understanding Equinox's unique voting mechanics, you can effectively participate in the governance process and contribute to the growth of the ecosystem.
Happy Voting!