Governance

The Governance page displays operations related to MIR staking and creating / voting on polls. For more details regarding the Mirror Governance process, click here.

Stake / Unstake MIR Tokens

MIR tokens are distributed as reward for staked LP tokens, which are generated when user provides liquidity. Click here to learn more about staking LP tokens.

In order to vote on governance polls, MIR must be staked to be used as voting power.

1. Navigate to the Governance page. The Governance page displays the following data:

  • Market information about MIR Staking: Information about current staked MIR in the market, and staking ratio are displayed

  • MIR Staking Position: MIR staking pool box displays expected APR (annual percentage rate) from staking MIR tokens, user's staked and unstaked MIR balances.

  • Poll History: Each poll has a unique poll ID, poll type (whitelist or parameter change), poll result, voting ratio and end time.

2. Click STAKE

3. Select either Stake / Unstake

4. Enter amount to Stake or Unstake

5. Click STAKE / UNSTAKE. Station Extension should prompt you to sign the transaction. Confirm the details presented and input your password to sign.

Create Poll

  1. Navigate to the Governance page

2. Click CREATE POLL

3. Select one of the below:

  • Whitelist: Poll to list new mAsset on Mirror Protocol

  • Parameter Change: Poll to change parameter of a listed mAsset

  • Community Pool: Poll to request MIR funds from Community Pool

4. After entering desired inputs, click activated button to confirm.

5. Station Extension should prompt you to sign the transaction. Confirm the details presented and input your password to sign.

Vote on Poll

  1. Navigate to the Governance page

2. Select poll that is IN PROGRESS

3. Click Vote

4. Select YES or NO.

5. Click Submit to confirm. Station Extension should prompt you to sign the transaction. Confirm the details presented and input your password to sign.

For every poll to be passed, they must meet the conditions below:

  • Voting quorum must be greater than or equal to 10% of the total staked MIR. Without meeting this condition, no matter how much portion of the voting power has been voted Yes, the poll is ineffective.

  • Over 50% of voting power which is dedicated to the poll must be Yes

  • Voting period (number of blocks corresponding to 2 weeks) has ended

  • After the voting period is over and the poll passes, it takes 7 days (number of blocks corresponding to a week) for the poll to become effective in the protocol.