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⚒️Delegate
Ray Dex Governance module by delegating to an address.
Component or Feature | Comment |
|---|---|
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. |
$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
- 1.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).
- 2.Call the Delegate function with the address you wish to delegate to.
- 3.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
- 1.Votes in the best interest of $RDX holders and $RDX products
- 2.
- 3.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
- 4.A core team member, contributor, or technology partner of an existing $RDX project
- 5.An existing $RDX holder
- 6.Possesses a significant following and distribution network
- 7.Shows active engagement within the $RDX community or ecosystem
Last modified 3mo ago