How to Vote in Governance
- Deposit MNGO to on DAO governance site
- View and vote on proposals
- Withdraw at anytime
MNGO is a governance token whose ownership grants voting rights on proposals to dictate Mango Markets protocol's future.
Mango Markets' code maintenance and future releases are reliant on successful proposals to update the smart contracts owned and controlled by the DAO. 3.9 billion un-circulating MNGO tokens are locked in a smart contract, only accessible via DAO governance votes.
Always do your research when voting. There is a #governance channel in Mango Markets' Discord to discuss proposals and ask any questions you might have.
Connect your wallet.
Click the "Deposit Governance Tokens" button.
A dialog will appear saying "Deposit your tokens?" Click Deposit.
This will bring up a wallet approval step, for the entirety of your MNGO tokens in your account. This is a scary step, but it is safe - you can withdraw at any time. Your Deposited Tokens will appear in the Governance Tokens Panel. Your tokens are now on the governance contract and removed from your connected wallet.
A list of proposals with current status is visible. Click on a proposal to view details and vote.
Max voting time: 3 days; Yes vote threshold: 2% of total supply (100m MNGO Votes currently ; Min instruction hold up time: 0 days; Min tokens to create proposal: 500,000 (0.01%).
Select the proposal you wish to vote on or view. A "Cast your vote" box is on the bottom right. Click "Approve" or "Deny" to vote on the proposal. Next, you will be asked to confirm and have the option to add a message to your vote. Be sure to approve the transaction from your wallet.
You're done. Your tokens are in the governance system for now. You can withdraw them, but if you withdraw them before the vote is complete it will also withdraw your vote. After the vote completes you can withdraw your tokens without affecting your vote.