Vote on a governance proposal
Voting for governance proposals is a key element for a healthy community, as token holders have a say in the decision-making process of the network.
There are several reasons why voting is so important, and we can condense them into two main elements.
By voting, token holders are represented in the decision-making process. This ensures that decisions are made taking into account the views of the broader community, as token holders can help shape the future of the network.
Governance proposals may be related to the security and stability of the network. For example, there may be proposals to increase the block reward, to introduce new features or to update the consensus algorithm. By voting in these proposals, you can help ensure that the network remains secure and reliable.
Voting in governance proposals also benefit decentralization by ensuring that the decision-making process is fair and transparent. This can help to prevent the network from being controlled by a small group of validators or by malicious actors that aim at manipulating the governance process for their own benefit.
You can vote either via:
The easiest way to vote on governance proposals is through Archway Connect. However, you can also vote on governance proposals through a wallet such as Cosmostation and Leap, or directly via archwayd.
- By voting YES, you agree with the proposal and would like to see it passed.
- By voting NO, you disagree with the proposal and would not like to see it passed in its current state.
- By voting ABSTAIN, you are recognizing this proposal is irrelevant to you and would not want your vote to be counted in either direction.
- Voting NO WITH VETO By voting no with veto, you fundamentally disagree with the proposal and would not like to see it reworked nor revisited.
That's it! Once the voting period ends you can check the results.