How to rUNN — Participating in Community Governance Votes from Staking and non-Ethereum Chains
This article discusses how to participate in Community Governance Votes with rUNN tokens. More broadly this approach can also be used for submitting votes representing balances of tokens being used on non-Ethereum chains (where the chains keep analogues with the Ethereum network), too.
For the past year, community members have been able to influence the development of UNION by using their UNN governance tokens to participate community votes. As we have started to move liquidity across chain and encouraged single-sided staking, we have been slow to keep up with the development and feature backlog that would allow cross-chain and staked token voting.
This Medium Article (https://unn-finance-main.medium.com/product-update-27-welcome-to-governance-beta-c396aa3e0246) will provide an overview of using your UNN to vote on Snapshot governance votes.
While those holding UNN in their wallets could freely vote, community members who had staked their UNN for rUNN were unable to vote without going through the unstaking process. Also, as UNION has started to bring liquidity to other chains, we have been slow to ensure that voting from those other chains is possible.
UNION has implemented a new system where holders of rUNN or UNN on other chains can now cast governance votes without having to go through an unstaking or bridge process. Holders of rUNN or UNN on other chains can now vote their tokens by signing a message from the wallet that holds the rUNN or UNN tokens. Signing a message is a simple way to verify ownership of a cryptographic wallet.
This Medium Article (https://unn-finance-main.medium.com/mapping-out-the-runn-token-staking-economics-bbd0b2fa654a) will provide an overview of obtaining UNION’s rUNN token.
The below guide will walk you through how to use your rUNN tokens to cast a UNION governance vote on the Ethereum Network. You may sign a similarly formatted message using tools other than the MyEtherWallet shown below — reach out freely to our admins on Telegram or Twitter @unnfinance for specific assistance.
- Visit UNION’s Snapshot proposals page to see what community initiatives are currently available at https://snapshot.org/#/unn.eth.
2) Visit MyEtherWallet.com (https://www.myetherwallet.com/) and click on “Wallet Actions”.
3) Under the “Wallet Actions” tab, click on “Sign Message” and then click on the type of wallet you use — this should be the wallet with access to the address where your rUNN tokens are stored.
4) Depending on how you sign in, your dashboard will look slightly different. Using a MEW wallet, you will be able to sign a Message using the “Message” dropdown.
5) Click “Sign Message” to bring up the signature field.
6) In the “Sign Message” filed, type five lines of text:
- The address of the wallet that you are voting from and that holds the rUNN or UNN tokens;
- The # of rUNN or UNN tokens in the wallet;
- The vote direction (yes or no);
- The address of the Snapshot vote; and
- The Network of the rUNN or UNN tokens.
7) Copy the five lines of text and past them in a word processing program.
8) The address of the Snapshot vote is located directly below the vote name.
9) Click “Sign.”
10) Once Signed, you will receive a Message Signed confirmation.
11) Click on “Copy” to add the signature to your clip board.
12) Past the signature confirmation in the same word processing program you used to paste the five lines of text from step 7.
13) Take all of the text that has been put into your word processing program and paste it into an email. Send that email to email@example.com. Please put “Vote XXXX” in the subject line, where XXXX is the last four digits of the Snapshot address.
14) The UNION team will tally verified votes and include them with Snapshot final counts in determining the final voting outcome. All received messages for the vote before vote close will be posted in an update to Medium.
We recognize that this is a temporary solution. We will continue to work with our community to ensure their voices on these decisions are heard.
- This announcement is for informational purposes only and is not an offer to participate. It contains a number of forward looking statements about features and functionality, which may be subject to change or availability. As such, specifically, To-Be-Determined (TBD) features and functionality are expected available on the basis of future release schedules, priorities, technical considerations, and market realities.
- Never send virtual assets to a smart contract you cannot afford to lose.
- This announcement does not constitute financial advice.
- UNION is not an insurance company and UNION does not sell policies of insurance.
- UNION is not an issuer of CDOs.
- We are in a rapid development phase, and the screens may or may not look like these in final product. Some of the numbers shown are placeholders.
- Nothing in this announcement shall be deemed to constitute a prospectus of any sort, a solicitation for investment or investment advice nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction.
- Nothing contained in this announcement is or may be relied upon as a promise, representation or undertaking as to the future performance or policies of UNION.