Maybe it is apropos for the time, or just timely overall. With the first proposal underway it is important to learn and understand about how to Get Out the Vote --> Zilliqa.
What is Zilliqa?
The Zilliqa project started in 2017 and looks to improve blockchain throughput and scalability through the concept of sharding, which is groupings of transactions shared across the miners for confirmation.
Community support is high as well as engagement which makes for an exciting time to be a part of the Zilliqa ecosystem.
If you want to dig deeper into background and other staking opportunities, the links for several previous articles follow;
In addition to staking features, as pointed out in the first article, many have quickly realized they are acquiring gZIL governance tokens with each staking reward.
Having been available since late 2020, questions have abounded as to what you actually do with the token. Let's find out.
gZIL the Governance Token
For many, the question has been percolating. What is a person to do with the Zilliqa governance token, gZIL? You can find chart data and other information from all the usual sources such as CoinGecko, etc.
With the token being relatively new, less than a year, one could expect volatility, growth or even contraction. More importantly this token allows the holder to access a voting feature on proposals within the Zilliqa ecosystem.
The Proposal Process
First things first, we are talking about a governance process so we do need a quorum to get things underway. Fortunately, the first proposal in motion for Zilliqa has achieved a quorum. Check out the latest from this tweet.
What is the voting process?
The first requirement is that you need to have $gZIL and you do not even need a full token. From a recent Reddit string, you can see how the conversation unfolds;
Once you have the base covered then you can start diving into the topic on a deeper level. First off you have to know where to go and even find the proposals. This author even found that journey to be a bit laborious too, so do not fret if that's the case.
You will need a couple links to make sure that you can seamlessly engage with the process.
First is adding ZilPay to your browser. There are other options for sure, but this is very simple. Much like Metamask, you can add the browser extension for ZilPay that will allow you to connect to your current ZIL wallet or use the wallet address created. Again, if you have used Metamask this will feel old hat to you.
Second, the snapshot page is where all the action happens. Actually this is the snapshot portal link:
Here you will find everything from the proposal link to FAQ's as well as the actual link to the Snapshot Voting Link for the proposal.
When you arrive on the voting link page you will see the option to connect your wallet through the ZilPay wallet and is most simplified through the browser extension, which is currently working for Chromium browsers, including Brave.
After all of that you just follow the prompts. It's really that simple.
NOTE: One of the most interesting and helpful points I saw listed in the Reddit thread was in regards to the snapshot. This author kept thinking, when was the snapshot taken or even why? After a brief yet succinct explanation you can see why;
The Most Recent Proposal
Currently the most recent proposal is the first proposal & it looks to make some housekeeping adjustments. You can see from the voting tally so far, the topic does not appear to be contentious or problematic.
Another data point overall that is more interesting than anything else is that like all things blockchain, you can see the data very transparently. The vote tallies as well as who had the most amount of votes and who had the least. Well, specifically which address had the most and the least.
In total there were 348 votes and more than 99.5% voted "For" the proposal. There were two votes which showed below the 0.01 vote but only listed 0.0 gZIL so the amount was even less than the 0.01. All of that to say it does not matter how many gZIL you have, you are still able to vote.
It is also worth saying that you do not lose or spend your gZIL to vote, but rather it is the number of "votes" or better said the strength of your vote that is identified by the number of tokens a holder is in possession on.
Proposal 1 is in the books, now it's time to move forward.
There have been many who were looking forward to participating in this process and learning how to better support the growth and development of Zilliqa. Since staking began in late 2020 and the receipt of gZIL has started, you knew it would only be a matter of time.
Now that the first proposal is in the books with nearly 350 participants, this author expects the number of engagements to grow along with the capabilities of the project. Meeting the needs of this community is further strengthened through a governance system that allows votes to be captured, recorded and called for in a way that is transparent and reliable.
Looking for great things ahead in 2021 and beyond with this project