How Voting works

A Guide to Participating in Bond finance Governance

Voting requires BOND (BND) tokens and Bond finance cash (BNDc) tokens to take part on the Governance Portal.

The Governance Portal lists Governance Polls and Executive Votes and the Voting Contract section lets users set up and manage their voting contracts.

This guide describes the Voting Contract responsible for facilitating on-chain voting in the form of Governance Polls and Executive Votes conducted to maintain the Bond finance Protocol.

The Voting Contract To vote, $BND and $BNDc owners must "lock-up" tokens by transferring them into the Voting Contract.

Votes are weighted based on the quantity of $BND and $BNDc locked in the contract. "Locked" $BND and $BNDc can be withdrawn at any time.

$BND and $BNDc token holders have the option to set up their Voting Contract with a single hot or cold wallet, or, as a linked wallet, for more secure voting.

The linked wallet setup allows users to vote using a hot wallet, with $BND and $BNDc stored on a cold wallet.

Voting Wallet Setup

$BND and $BNDc token holders can set up their Voting Contract using a single hot or cold wallet or a linked-wallet setup for greater security.

Linked-Wallet Voting

With linked-wallet voting, $BND and $BNDc holders can use their wallet to vote with $BND and $BNDc safely stored on their cold wallet.

The hot wallet has permission to manage the voting contract but not to transfer tokens. If the hot wallet is compromised, the link can be broken from the cold wallet so $BND and $BNDc stored on the cold wallet will remain safe and unaffected if a hot wallet is compromised.

Users can avoid the Vote Proxy by depositing $BND and $BNDc tokens directly into the voting contract. While single wallet voting is less secure.

Users who store $BND and $BNDc on MetaMask or other web wallets may find it to be the easiest way to start voting.

$BND and $BNDc wallet set up

Voting Wallet Setup

Learn how to set up your digital wallet or wallets to vote on BOND FINANCE governance

$BND and $BNDc holders may set up their Voting Contract with a single hot or cold wallet, or, as a linked wallet.

The linked wallet provides a more secure setup enabling users to vote with a hot wallet while their $BND and $BNDc remains stored on a cold wallet.

Linked-Wallet Setup

The Linked Wallet Voting Contract can be set up using hardware wallets like Trezor or Ledger, paper wallets using BEP20, or two MetaMask Accounts.

Setting up a Voting Contract is a one-time action as long as the same wallet or wallets are used in voting. This guide uses Trezor as the cold wallet and MetaMask as the hot wallet. The process is similar for other cold wallets.

Contract Setup and Voting Costs

Voting requires a single transaction and typically costs a few cents per vote.

The total amount varies depending on network congestion.Setting up a linked-wallet Voting Contract takes four transactions.

The cost of setting up a linked-wallet Voting Contract is split between the hot and cold wallets so please ensure both wallets contain BNB BEP20 (BNB SMART CHAIN).

Governance Polls and Executive Votes

How is the voting calculated?

Voting is weighted by the amount of $BND and $BNDc that votes for a proposal.

For example, if 50 stakeholders hold a total of 600 $BND and vote for proposal A, while 100 stakeholders hold a total of 400 $BNDc and vote for proposal B, then Proposal A would win with 60% of the vote.

Notice that the number of voters is irrelevant, only the amount of $BND and $BNDc tokens voting for each proposal.

What happens to my $BND and $BNDc when I am voting?

$BND and $BNDc is locked in the Voting Contract that was set up by the voter. This $BND and $BNDc is only accessible with the wallet used to set up the voting contract. For a single-wallet setup, only that wallet can withdraw $BND and $BNDc out of the system. For a linked-wallet setup, either of the linked wallets can be used to withdraw $BND and $BNDc to the linked cold wallet.

Governance Polls

Governance Polls occur on-chain and are used to measure the sentiment of $BND and $BNDc voters.

They can be accessed through the the Bond finance Polling page in the bond Foundation's Governance Portal.

Polls often run concurrently, allowing voters to participate in any number of them at the same time and some use instant run-off so you can select multiple options.

The current schedule calls for polls to 'go live' on a weekly basis every Monday at 16:00 UTC.$BND and $BNDc holders may be asked to:

• Determine governance processes outside the technical layer of the bond Protocol.

• Form consensus on important community goals and targets.

• Measure sentiment on potential Executive Vote proposals.

• Ratify governance proposals originating from the bond app forum signal threads.

• Determine which values certain system parameters should be set to before those values are then confirmed in an executive vote.

• Ratify risk parameters for new collateral types as presented by Risk Teams.