Voting

voting

How to run?

As a decentralised organisation, zkfox is proudly governed by our $vefox token holders. This includes our founders, Core contributors and the wider Cowmoonity, as well as some external holders. Most major decisions that zkfox takes are put to and voted on by our $vefox holders, including how our fees are set, how the protocol and its contributors are funded, how we market zkfox and what direction we should take on certain decisions.

what is $vefox?

$vefox is used for governance. Any fox holder can vote-escrow their tokens and receive a $vefox (also known as veNFT) in exchange. Additional tokens can be added to the $vefox NFT at any time.

The lock period (also known as vote-escrowed period, hence the ve prefix) can be up to 4 years, following the linear relationship shown below:

• 100 $fox locked for 4 years will become 100 $vefox

• 100 $fox locked for 1 year will become 25 $vefox

The longer the vesting time, the higher the voting power (voting weight) and rewards the $vefox holder receives.

How to create a proposal?

If you want to create proposals, you need to own a specified amount of $vefox. After staking your $vefox, you can create various types of proposals on the proposal creation page. Each proposal is made up of a question to pose to the community.

How to vote?

Voting requires you to hold $vefox, voting power is based directly on the amount of $vefox each voter holds.

To submit your vote, simply head to to our governance page, connect your wallet and then head to an open proposal you wish to vote on. You'll then be required to sign a transaction through your wallet to formally submit your vote.