How to stake and vote on KLAYswap
Last updated
Last updated
Generally in the KLAYswap economy, each vKSP holder (governance participant) will support the liquidity pool that is most directly advantageous to him/her, as more KSP will be distributed the more support is behind any particular pool.
vKSP refers to the voting power of overall KLAYswap governance and participants must stake and acquire their own KSP to acquire vKSP.
*However, even if you stake the same quantity of KSP, the amount of vKSP acquired will vary depending on the length of the staking period.
Click the ‘Stake & Boost’ tab at the top of the page, and then you will be taken into the Staking and Voting page.
At the page, click the ‘Staking’ button, and the staking pop-up page will be shown so that you can type amounts you wish to stake, and select the period (4 Months/8 Months/12Months). After completing, click ‘Next Step’ to confirm your transaction.
*If it’s the first time staking KSP, your wallet needs to be approved to allow the contract to access the token.
Once your transaction is confirmed, your screen should show that you have vKSP.
Now, you can vote for a specific pool or several pools with your vKSP.
*The KSP distribution rate by liquidity pool (set to initial value) can be changed through voting by vKSP holders.
