Commonwealth voting: 1 HMT (ERC-20) required

The HUMAN Protocol Commonwealth forum is the center of all things related to community governance. On it, the Foundation has already submitted one proposal – on providing a grant to a Maintainer on The Graph – which the community voted in favor of. 

Now, anyone who wishes to participate in a governance vote has to hold at least 1 HMT in ERC-20 on the wallet they connect on Commonwealth. ERC-20 refers to the smart contract associated with the HMT token on Ethereum-compatbile networks.

Why?

Voting is reserved for community members. On the previous proposal, anyone was free to cast their vote. We want to make sure that those voting are part of the HUMAN Protocol community; that is why it makes sense to limit voting to those who hold a very small amount of HMT.

How it works

Any community on Commonwealth must create a ‘space’ on Snapshot for their given proposals. Snapshot takes a “snapshot”, a view, of the balances of everyone in a given community when a vote is proposed.

The vote is signed off-chain to avoid gas fees, but this will require verification of the results if they are to be put on-chain; our eventual plan is to facilitate this.

Read the full documentation for more information.

Connect your wallet to vote

To vote, you must press “log in” in the top right of the screen. You will see the following prompt:

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You can connect your wallet via WalletConnect. Remember, HMT is available on several blockchains. To vote on Commonwealth, you require HMT in the ERC-20 format.

An exciting moment to reserve the right to vote on proposals to those who hold 1 HMT. Governance is all about offering token holders the right to vote; this development is an exciting step in decentralization, and towards bringing on-chain voting.

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_{The HUMAN Protocol Foundation makes no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information contained here. Any assumptions, opinions, and estimations expressed constitute the HUMAN Protocol Foundation’s judgment as of the time of publishing and are subject to change without notice. Any projection contained within the information presented here is based on a number of assumptions, and there can be no guarantee that any projected outcomes will be achieved.}