Meta Pool, Module 4 – Participating in Meta Pool’s governance

Meta Pool governance

The governance is the process in which Meta Pool looks to give back the project to the community. In this way the $META token holders are the ones who will have the option to manage the protocol on-chain through a DAO.

Mounting a real on-chain, decentralized, governance is a work under progress on the whole Web 3 ecosystem. As well, this module covers how Meta Pool is handling this situation.

Meta Pool DAO

Meta Pool will introduce $META tokens for DAO governance. The intent is for the $META token to be distributed to protocol builders and project contributors in a fully transparent way.

One thing to note is that before the on-chain governance voting platform is ready for $META token holders, core protocol contributors will make critical decisions based on the project vision and informal input from the community on discord.

This is intentional, as we think it’s important to keep governance nimble in the early days of the protocol.

The main purposes of introducing the governance token: Incentivize liquidity. To bootstrap initial liquidity and accelerate the growth of Meta Pool platform.

Form DAO. $META token represents the ownership of Meta Pool DAO. The DAO is going to be responsible for updating program parameters, product roadmap and other strategic decisions. Capitalize the treasury. To allow for strategic partnership funding or creating reserve funds.

$META tokenomics

Max supply: 1,000,000,000 $META

• Founders: 30%

For the work of creating, launching, promoting and maintaining the protocol. Founders’ tokens have a 1 year lockup followed by a 2-year linear release. (3 years total)

• Team & Advisors: 2.6%

In order to create a world class product, we need the best of the NEAR Ecosystem working and collaborating in the protocol. They will be committing long term to the protocol. Advisors’ tokens have a 2 year lockup followed by 1 year linear release. (3 years total)

• Investors: 10%

Partnering with leading investors and institutions will be key to our global reach and also better understanding of the macro conditions of the crypto markets. We know what we don’t know, that is why senior advisors and access to their network will be critical for our growth. Investors’ tokens have a 1 and 2 year lockup followed by 1 year linear release. (2 and 3 years total)

• Allocation for venture rounds:

● 4% Seed round

● 6% A round

• Community & Treasury: 57.40%

Earn voting power on Meta Pool – Meta Vote

Meta Vote is a community-based Voting Platform for:

• Projects Fundraising on Meta Yield, and
• Supporting Validators in Meta Staking Vote.

It is a platform designed to acquire Voting Power to support projects in Meta Yield and to delegate NEAR Tokens to validators in Meta Staking Vote.

How to use Meta Vote?

You can access Meta Vote directly from its link https://metavote.app/ or:

1. from Meta Yield by clicking on projects you want to vote. https://metayield.app/
2. from Meta Staking Vote by clicking on the Validator you want to vote https://vote.metapool.app/, or by clicking on the links to Meta Vote on the page to get voting power.

Connect your wallet on Meta Vote

In the Meta Vote site: https://metavote.app/, link your NEAR wallet so that you can have full access to your assets. +Connect Wallet button.

Meta Vote works with 3 simple steps:

1. Lock your $META tokens
2. Get voting power
3. Vote on projects in Meta Yield or Vote supporting Validators.

Lock your $Meta Tokens

In order to be able to vote for projects or Validators, you must obtain Voting Power and it is very simple. The way to get it is by locking your $META tokens.

If you don’t already have $META – you’ll need some! See below “How do I get $META Tokens?”

1. Click on the button title + Add Voting Power
   

   

2. Enter the amount of $META tokens you want to lock.
3. Select the period you wish to “unlock” your tokens with the slider. This is the Unlock time for your $META tokens.

The minimum amount of time your $META can be locked for is 30 days, and up to 300 days. The longer your $META is locked, the more voting power you have for each $META token locked.

After selecting your lock period, click on the lock button and approve the transaction through NEAR wallet – and then you are ready to vote!

1. Use voting power to vote for desired projects or support Validators.
   

   

2. Go back to https://metayield.app/ or to https://vote.metapool.app/, refresh the page, and see the voting power!
   1. Meta Yield: You can then use the vote now button on any project and back them with your tokens. Additionally, you don’t have to spend all your tokens on one project, you can back multiple!
      

      

   2. Meta Staking Vote: You can now vote directly the validator of your choice. Just click on the “vote” button
      

      

      of the validator of your choice, or select the validator you want to support, read all information regarding to this validator and vote for it. You can support multiple validators, not just one.

Voting Power acquisition formula for your $META tokens

MULTIPLIER = 1 + (4 * (days – MIN_LOCK_DAYS) / (MAX_LOCK_DAYS – MIN_LOCK_DAYS))

• MIN_LOCK_DAYS=30
• MAX_LOCK_DAYS=300

Example

How do I get $META tokens?

In the upper right-hand corner of the Meta Vote app, click “Get More $META” –

. This link to Ref Finance, to swap NEAR tokens or other NEAR native assets for $META tokens.

• https://app.ref.finance/#meta-pool.near|meta-token.near

Also, you can get $META tokens on any DEFI platforms of the NEAR ecosystem.

Lock stages

Lock Period

The Lock stage is the one that allows you to vote on projects. $META tokens are locked and users can vote, unvote for projects or validators at any time. There is no time limit for this stage. Voting power will be available as long as $META tokens are locked.

Unlock Period

Once the project voting campaign is over or the user wants to end the support to a validator, can start the Unlock period. By pressing the “Start Unlock” button in the desired lock position, the unlock time begins to run, which corresponds to the time set by adding voting powers.

It should be noted that an unlock stage can only be started if there is enough voting power available. If there is voting power in use and it is not enough to unlock a full position, it will not be able to start the unlock period.

Important: the Unlock period does not start automatically, it must be manually started by the user.

Withdraw of $META tokens

Once the Unlock time is over, $META tokens can be withdraw.

Important: the withdrawal of $META tokens must be done manually by the user.

Meta Staking Vote – Use your voting power to support best validators

Meta Staking Vote is a community-based platform for the selection of Validators to assign by vote 15% of the NEAR tokens staked in Meta Pool.

Meta Pool gives governance power to $META holders as they are the ones voting in the Meta Staking Vote.

How to use Meta Staking Vote?

Access Meta Staking Vote directly from its link https://vote.metapool.app/.

Connect the NEAR wallet on Meta Staking Vote

In the Meta Staking Vote site: https://vote.metapool.app/, link the NEAR wallet. Click Connect Wallet button, choose a wallet and connect.

Meta Staking Vote works with 4 simple steps:

1. Lock $META tokens in Meta Vote platform.
2. Get voting power.
3. Vote for the validators to support in Meta Staking Vote platform.
4. See a dashboard of votes and NEAR stake assignments.

How it works

1. Meta Pool users, stake their NEAR tokens, receiving stNEAR in return.
2. Those staked Nears are distributed to the Validator nodes. This helps decentralize and secure NEAR Protocol. The more users stake in the Meta Pool, the more is distributed among the validator nodes.
3. The validators produce blocks and get rewards for it, this increases the value of stNEAR in NEAR tokens.
4. Of the total NEAR tokens staked, Meta Staking Vote delegates 15% to the Validators by vote of the $META holders (supporters).

This will be an permanent voting and according to the results, Meta Staking Vote allocates 1% of the total amount staked in the Meta Pool every ̴4 epochs.

$META token Holders

The voting consists of 2 steps:

1. Validator Choice: Go to: https://vote.metapool.app/ The complete list of validators tracked by Meta Staking Vote.

For more information, click on the name of the validators and will be redirected to the validator page, with detailed information.

Once the Validator to support and vote for has been analyzed and chosen, vote. Select it to be voted on the list (vote button), or on the page of the validator (vote this validator button).

1. Validator vote: Connect the NEAR wallet. Select the validator to be vote on the list (vote button), or on the page of the validator (vote this validator button) and assign the voting power to it.

In this link is explained how to obtain voting power.

Validator voting is an ongoing campaign, so votes counts for each campaign as long as it runs.

Vote for any number of validators with no Voting Power allocation limit. The votes can be changed at any time.

This is how vote for Validators in Meta Staking Vote works, simply, safely and getting 100% of $META tokens back.

Delegation

15% of the Meta Pool TVL provided by users staking will be delegated by vote of $Meta holders.

If the TVL increases, the distributed amount increases. It is very important to promote the Meta Pool Liquid Staking Pool for investors, for which we require the support of validators and the community.

The delegation campaign is continuous, and 1% of the total staked in Meta Pool is assigned every 4 epochs.

Platform – General data

• Validators

This is the number of validators approved by the Meta Pool to be voted on according to the validator selection criteria.

• Epoch progress

Indicates the remaining time of the block validation / production epoch.

An epoch lasts approximately 13 hours. (An epoch last 43.200 blocks and a block last approx. 1.1 seconds).

• NEAR staked @ Meta Pool

TVL (Total Value Locked) to be delegated to validators. 85% by performance and 15% by votes in Meta Staking Vote.

This amount corresponds to the NEAR tokens staked in Meta Pool.

The amount is available in: https://staking.metapool.app/ – Total stNEAR Tokens multiplied by stNEAR Price.

• Near to be assigned by votes

15% of the TVL to be assigned by votes. How much corresponds to each validator individually can be seen in Assigned by votes.

• Available Voting Power

Voting power available to be used to vote for validators. If Voting Power is not available, it can be purchased at: https://metavote.app/ (by clicking on the link below of the amount).

Important: $META tokens are required in order to get voting power. Get $META at https://app.ref.finance/#meta-pool.near%7Cmeta-token.near

• In Use / Total

Voting power in use and the total that the user has.

In Use can be for having already voted for validators or for voting projects in Meta Yield.

Validators voting details

• Name

Validator name.

To know more about a particular validator, just click on the name and it will be redirected to the individual page of the selected validator.

• APY

Annual Percentage Yield granted by each validator. It depends on validators performance and fees.

• Votes

Number of votes given to each validator and the corresponding percentage of the total. Voting is continuous and indicates the percentage of allocation tendency to be delegated.

• Assigned by votes

Amount of NEAR tokens corresponding to be assigned to each validator according to the 15% to be assigned by votes. Important: only 1% will be assigned for every approximately 4 epochs.

This amount is the tendency to be reached for the assigned to each validator according to the votes.

The total TVL to be assigned by votes is distributed approximately every 15 groups of 4 epochs.

• Assigned Total

This amount corresponds to the amount to be assigned by performance (85%) and by votes (15%). It is the total tendency to be reached by the validator.

• Meta Pool Staked

NEAR tokens currently delegated by Meta Pool to each validator.