How to participate in Bancor Listing Vote
Dear Sheesha Finance Community,
As many of you may know, we are diligently working to get our Sheesha token listed on more decentralized exchanges (“DEX”) to expand our community. We want to give everyone as much access to Sheesha as possible, which will help the ecosystem, benefitting all Sheesha token holders and stakers.
We are doing as much as we can to support this and would like to ask for your help!
Recently, we have been in discussions with Bancor, which is a popular DEX used by a lot of crypto traders and there has been mutual interest in them listing our token. However, Bancor is run by a DAO and in order to get new assets listed at least 35% of the Bancor DAO needs to vote with a majority ruling in favour of the token listing.
Anyone can be part of the Bancor DAO and that is why we are asking our community to become Bancor governance token holders (vBNT). Once the tokens are purchased you must stake them in order to have voting rights. This will help the Sheesha token listing vote pass on the next voting date which is January 9th.
Getting involved is very easy! You just need to ensure you have completed certain steps at least 48 hours before the voting date on January 9th:
1. Pick up some Bancor Governance Tokens (vBNT), which can be found on the Bancor DEX Directly: https://app.bancor.network/
Or
2. Purchase some Bancor Tokens (BNT) which can be found on Coinbase and Binance. Once you have a few Bancor Tokens you can stake the BNT in a Bancor staking pool and receive Bancor Governance Token (vBNT) at a 1:1 ratio.
There is no minimum vBNT amount to participate in voting, any amount is fine. just be sure you are holding some Ethereum to cover network fees.
If you choose to purchase Bancor token (step 2), here is how to Stake BNT to receive vBNT (Skip this step if you chose step 1 and purchased vBNT directly)
- Once you’ve purchased your BNT tokens and transferred them to your Metamask wallet, head over to app.bancor.network/pools and click the plus + sign next to the pool you wish to stake at. Be sure to select a staking pool with the blue shield next to it as that means the pool is whitelisted and protected against impermanent loss.
- Under the Add Liquidity Single-Sided option, select BNT and the stake amount. Clicking the “balance” option will select the full balance.
3. Accept the transaction on Metamask
Your single-sided liquidity stake should now appear in the protection screen, hit refresh if it does not appear.
Once you have provided BNT you will receive vBNT in return, well done! See, that was easy. Now that you have some vBNT let’s get you set up with those voting rights.
How to use your vBNT to Gain Voting Rights
1. Go to the voting interface at: https://app.bancor.network/vote
2. If your Metamask wallet is connected you will see your vBNT balance. Click on the “Stake Tokens” button to stake your vBNT into the voting contract so you can use them with the governance interface.
Click “Balance” or “+100%” if you would like to automatically select your full vBNT balance.
3. Once you have selected the amount of vBNT you would like to stake, click “Stake vBNT.”
Once the transaction is confirmed your tokens will be staked in the governance contract. You will see a counter indicating how much time is needed to wait until you can unstake your vBNT. Please remember that this needs to be done at least 48 hours before the vote on January 9th so make sure the tokens are staked before January 7th.
So far, so good!
How to Vote
1. Find the proposal you would like to vote on the Bancor Snapshot at vote.bancor.network. The Sheesha vote will go live on January 9th. Here is an example of how it will look:
2. Select the option for/against/abstain at the bottom of the page.
This will open a Metamask transaction for you to sign. Once confirmed, you will be able to see your vote in the voting interface.
A timer indicating the duration of the vote is displayed at the bottom of each proposal, you will be able to unstake your vBNT at the end of the proposal’s voting period.
And that is it!
If you have followed all those steps, well done and we truly appreciate the effort here. Remember that this benefits all of us, the more we are in the spotlight the more we can continue to bring our community early access to tokens from the best projects and the more demand for our token will help propel the Sheesha token to the moon!
*Images for the step-by-step guide in this article are from the official Bancor Blog which can be found here: https://blog.bancor.network/bancor-v2-1-staking-guide-749e5cc4326a *
About Sheesha Finance
Sheesha Finance is a leading decentralized DeFi Staking Platform allowing for premium cryptocurrency portfolio diversification and rewards. Sheesha Finance rewards investors of any size, from small to large ticket holders, with unlimited DeFi tokens from a diversified portfolio of projects. Sheesha Finance’s easily convertible assets can be freely utilized to maximize rewards and gain exposure to existing and upcoming DeFi projects. With plans to become a member-managed Decentralised Autonomous Organization (DAO), Sheesha Finance is dedicated to upholding full transparency and integrity within the DeFi space.
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