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All governance actions are facilitated by vBUMP, which is voting power granted to token holders for staking and optionally locking their BUMP tokens.
There are three ways in which users can gain vBUMP and thus be able to create or vote on proposals:
- 1.Stake BUMP for vBUMP:
Staking your BUMP tokens grants vBUMP at a 1:1 ratio, so if you lock 10,000 tokens, you get 10,000 vBUMP.
Users can stake more BUMP at any time, immediately increasing their amount of vBUMP by the same amount.
- 2.Lock your staked BUMP
Once your BUMP tokens are staked, and you've received your vBUMP, you can optionally choose to lock them for a period of your choosing up to 1 year. By doing so, you will earn bonus vBUMP on a linear multiplier, where choosing a lock for a full year grants the maximum 2x multiplier, and 6 months grants 1.5x multiplier (etc). The bonus vBUMP which is granted when you lock your staked BUMP reduces on a fixed linear decay curve over the timeframe of your chosen lock. Learn more about staking and locking here, and see the how-to guides for detailed instructions on how to stake and lock in the Bumper DAO.
- 3.Delegating vBUMP
Users may delegate vBUMP voting power to other users (delegatees) who are then able to proxy vote on the delegators behalf.
Only one delegatee may be selected by an individual delegator at a time, and only the actual vBUMP representing the users BUMP token balance can be delegated to another user; in other words, bonus vBUMP (awarded to users locking BUMP) cannot be delegated to someone else.
Delegated balances cannot be locked or staked by the delegatee, and a user may recall their delegated vBUMP back at any time. Recently undelegated vBUMP cannot be used by the original delegator for proposals which have already entered the voting period.