Becoming an xGov
An xGov is an Algorand address that has:
- Acquired voting power derived from consensus participation; and
- Enrolled as an xGov in this platform by paying the one-time enrollment fee of 10* Algo.
During the first two weeks of mainnet, the enrollment fee will be set to 1 Algo to encourage sign-ups. For the remainder of August, it will increase to 5 Algo. From September, the enrollment fee will be set to 10 Algo. This fee may be adjusted to account for Algo price fluctuation.
Acquiring Voting Power
Voting power is calculated by looking at all blocks produced during an observation window of 3,000,000 blocks. For the first xGov cohort, the observation window is the three million blocks leading up to block 51,000,000. The cohort list will be updated every millionth block thereafter.
The voter account creation fee is a one-time, non-refundable fee that serves two purposes:
- Paying for the network and smart contract costs associated with the xGov profile; and
- Discouraging addresses that do not participate in consensus from creating multiple accounts that cannot be used to vote.
Once you formally enroll and pay the account creation fee, the address is cross-checked with the latest cohort list. The cohort list described above is updated at every millionth block. If the address enrolled is part of the latest list, it will be added to the next voting committee. If the account joined, for example, after block 51,000,000 and before block 52,000,000, the address will only be added to the cohort list once the new version is available.
The voting cohort is updated periodically (ie, weekly), which also means it can take a few days between paying to create your account and being able to vote on your first proposal.
To enroll, click on the “Become an xGov” button:
The sign-up window will be displayed:
Once you click on the “Submit” button, confirm the transaction with your wallet. The text at the bottom of the window will change to “Already an xGov.”
You can vote on proposals once the voting committee has been updated. You can participate in the proposal discussions here on the Forum anytime.
Voting on Proposals
*** Coming soon ***