Stake your Bitshares to participate in voting!
Similar to the Hive blockchain, the Bitshares blockchain requires you to securely lock a portion of Bitshares in your account to gain voting weight power.
If you have proxied your vote to another Bitshares user in the past, they will not receive your voting power until you create a vote lock with your selected lock duration.
If your Bitshares is in a centralized exchange, you'll need to move your Bitshares into your own Bitshares account to control your own voting rights.
Given that several centralized exchanges have unexpectedly gone bankrupt recently due to contagion, there's never been a better time to create your own Bitshares account, move funds out of CEX and test out the voting mechanism to gain real influence with your Bitshares.
What levels of voting lock weight are there?
| Duration | Vote multipliers | 1000 BTS lock vote weight |
|---|---|---|
| 180 days | 2x | 2000 |
| 360 days | 4x | 4000 |
| 720 days | 8x | 8000 |
The greater the lock duration the larger the vote weight multiplier, rewarding you for greater long term confidence in the Bitshares blockchain.
Why lock your Bitshares?
By locking a portion of your Bitshares on the Bitshares blockchain, you'll gain voting rights over important blockchain matters, where as you have no such rights when you hold your Bitshares on centralized exchanges.
If your computer is temporarily compromised either physically or digitally, by having your funds locked for voting purposes, your funds are more secure in your account.
Your vote has influence! You vote on who earns by securing the network, who controls the bitassets and who earns from worker proposals!
What can you vote on?
With your hard earned voting weight secured, you can vote on the following:
- Which witnesses (delegates) secure the Bitshares blockchain
- Vote for the witnesses you trust the most
- Your vote matters! Secure the network by voting on witnesses.
- The more votes witnesses have, the more expensive/impossible 51% attacks become in DPOS.
- Which Bitshares users should be on the Bitshares committee
- The committee manages multiple bitassets
- The committee also manages the fee schedule and blockchain settings
- Worker proposals
- By voting for refund400k you secure the reserve pool from attack
- By voting for development worker proposals you can help fund development of next generation Bitshares technology!
- Occasionally BSIPs are voted through non-funded worker proposals too!
- Potentially secure work by voting your own worker proposal above refund400k.
How do I create a vote lock to boost my Bitshares voting weight?
Navigate to the voting page on the reference Bitshares wallet.
Within this page, there's a button titled "CREATE LOCK", click it!
The 'Create Lock' modal as shown above will popup.
Enter the amount of Bitshares you want to lock, and select the lock type.
Refer to the above voting lock weight table above when you pick the lock type in this modal.
Once you submit your create lock operation onto the Bitshares blockchain you'll gain voting weight equal to your locked BTS multiplied by the duration type multiplier.
Your votes on witnesses, committee members and worker proposals will now have influence; thanks for helping strengthen the Bitshares blockchain through locking your BTS for voting rights.
Related tools
The Bitshares ticket tracker tool enables you to scrape and summarize locked tickets, then compare your intended lock weight influence on the top 10 voters.
Congratulations @nftea.gallery! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 2000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
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