⚒️Delegate
Ray Dex Governance module by delegating to an address.
Last updated
Ray Dex Governance module by delegating to an address.
Last updated
| Component or Feature | Comment |
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$RDX holders cannot vote or create ideas until their voting rights are delegated to an address. Delegation can only be granted to one address at a time, including the holder's own. It should be noted that delegation does not lock or transfer tokens. If an isolated delegatee wallet is stolen, compromised, or interacts with the wrong smart contract, no RDX tokens are lost, and the RDX holder can delegate to another address. Delegation allows for the change of vote weights independent of RDX holdings. This enables the decentralisation of voting on DAO proposals, as well as the adjustment of vote weight distribution among voters with varying areas of knowledge and interests.
As with any smart contract action please ensure you are interacting with the correct contract, method / function:
Contract = coming soon
Method or Function = delegate
Method ID: coming soon
Connect to the contract address (coming soon) using Hardhat or PulseScan or Foundry or any frontend of your choice with your web3 wallet (preferably MetaMask).
Call the Delegate function with the address you wish to delegate to.
Send and confirm transaction.
Not yet available (coming soon)
A formal Enhanced Delegation Program has not yet been approved by DAO, however we advise large $RDX holders to follow the guidance below.
Mandatory
Votes in the best interest of $RDX holders and $RDX products
Completes delegate profile available at https://app.raydex.org/dashboard/delegate
Votes on all proposals in areas of expertise or interest, and provides reasons for the vote through a forum comment linked to the Snapshot vote.
Desirable
A core team member, contributor, or technology partner of an existing $RDX project
An existing $RDX holder
Possesses a significant following and distribution network
Shows active engagement within the $RDX community or ecosystem
The current delegate list can be found here: https://app.raydex.org/dashboard/delegate
Basic Delegation (one-to-one)
Currently in testnet and production (coming soon).
Uses "COMP-like" delegation function native to the $RDX token, and recognized by Snapshot.
Enhanced Delegation Program
Requires DAO approval prior to formal program and delegation via DAO Treasury holdings.