What is stake for governance?
Stake for governance is a mechanism that allows W token holders to indirectly participate in Wormhole governance by delegating their voting power to active delegates.
How do I participate in staking for governance?
To start staking for governance navigate to the Tally Governance Portal and follow the guided process. You can also follow this step-by-step guide to the stake for governance process.
From which platforms can I stake for governance?
The only platform where staking for governance is possible is on Tally. Be vigilant and make sure the address always matches https://www.tally.xyz/gov/wormhole.
Which EVM chains are currently supported?
Ethereum Mainnet, Arbitrum One, Optimism, and Base.
When will Wormhole’s governance be available on Solana?
Further updates will be coming soon.
Which wallets are supported for staking?
When initially connecting to Tally, the following wallets are available: MetaMask, WalletConnect and Coinbase Wallet. When connecting to the token transfer widget, you can connect to Solana using Torus, Backpack, Bitget Wallet, Clover, Con98, Solong and Nightly. Ethereum, Arbitrum, Base, and Optimism and be connected using only MetaMask.
Can I unstake my tokens?
Yes, you can unstake your tokens by choosing yourself as the delegate. This will restore all the voting power to your address.
Navigate to the "Explore Delegates" tab and click the "I want to delegate to myself" button to unstake.
Can I stake for governance from multiple chains?
W is natively multichain on Solana, Ethereum, Arbitrum, Optimism, and Base through Wormhole Native Token Transfers (NTT). Staking for governance is currently only available on Ethereum Mainnet, Arbitrum, Base, and Optimism.
How is the staking for governance process managed?
The entire process is managed on-chain using smart contracts.
What is a delegate?
A delegate is an individual or entity that votes on behalf of W token holders.
Why are delegates part of Wormhole governance?
Not everyone has the time, knowledge, or desire to monitor and vote on changes to the Wormhole platform. These token holders often delegate their votes to those who can be fully engaged in governance.
What does a delegate do?
Delegates make an effort to read, understand, and provide feedback (when needed) on governance proposals. This generally means “thinking critically” and understanding how the Wormhole platform and its various protocols and parameters function.
Delegates actively vote on all governance proposals and provide an explanation for their voting position. The time commitment is variable. Some delegates prefer to be very hands-on, crafting their own proposals proactively or serving on various committees or elected positions that might exist. Other delegates simply stay informed, review proposals, and vote upon them. There’s no wrong way to be a delegate as long as you commit to voting regularly and in an informed manner.
Who can I delegate to?
In the Tally Governance Portal, you’ll be able to explore profiles and find the perfect value-aligned delegate. Delegate platforms are also available on the Wormhole Forum.
How can I track my governance participation?
When signed into the Tally platform, in the top right corner, navigate to the drop-down menu for your profile and click on Profile. Here, you will be able to see your governance participation.
What is the Wormhole Forum used for?
The Wormhole Forum is going to be used for various purposes for Wormhole governance. Currently, detailed delegate platform descriptions are available in the Delegate Platform section.
Who are Tally and Scopelift?
Tally and Scopelift, along with other Wormhole core contributors, are building MultiGov. Learn more about MultiGov here.
How is stake for governance connected to Multigov?
As part of MultiGov, Wormhole governance will be available across a number of chains. By staking for governance and delegating voting power to delegates, users can already take advantage of several EVM chains for their governance activity.
When will the Wormhole DAO see its first proposals to vote on?
The Wormhole DAO and MultiGov are being actively developed and further updates will be coming soon.
Can I stake only a portion of tokens in my wallet?
No, only the entire amount of tokens in your wallet can be staked.
When staking for governance and choosing a delegate, can I change the delegate?
Yes, you can change your desired delegate at any time.
Are delegates paid?
No, there is no financial compensation for delegates.
Is there a cool-down period when changing delegates?
No, there is no cool-down period.
Do I earn yield by staking for governance?
There are currently no incentives distributed when staking for governance.
I don’t have gas on the target chain. Can I still transfer my tokens?
Yes, you can still transfer your tokens. No gas is needed on the target chain.
Are my tokens locked when staking for governance?
No, they are not. Users retain full ownership over their token (subject to any contractual lock-up periods). Staking for governance doesn’t impact token ownership.
Can I vote with locked tokens?
Yes, you can vote with locked tokens; for those on a vesting scheduling, only those locked tokens which have fully vested are eligible to vote.
What is the minimum amount of W tokens required to participate?
There are no minimums for participation.
SAFETY NOTICE
Users and readers are advised to be cautious and remain vigilant against potential scams. Verifying that any webpage linked to Wormhole is hosted under the wormhole.com domain is crucial to staying safe from scams and phishing attempts. All official community and social channels are also listed on official web pages. Wormhole-affiliated moderators and team members will never reach out to you first or solicit any kind of personal information.
THIS IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO PURCHASE ANY W, AND IS NOT AN OFFERING, ADVERTISEMENT, SOLICITATION, CONFIRMATION, STATEMENT OR ANY FINANCIAL PROMOTION THAT CAN BE CONSTRUED AS AN INVITATION OR INDUCEMENT TO ENGAGE IN ANY INVESTMENT ACTIVITY OR SIMILAR. YOU SHOULD NOT RELY ON THE CONTENT HEREIN FOR ADVICE OF ANY KIND, INCLUDING LEGAL, INVESTMENT, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVICE, AND SUCH CONTENT IS NOT A SUBSTITUTE FOR ADVICE FROM A QUALIFIED PROFESSIONAL. THIS DOCUMENT CONTAINS HYPOTHETICAL, FORWARD-LOOKING AND/OR PROJECTED FIGURES WHICH ARE NOT GUARANTEED AND ARE SUBJECT TO CHANGE; ACTUAL NUMBERS MAY VARY. WORMHOLE MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE COMPLETENESS, RELIABILITY, VALIDITY, OR ACCURACY OF THIS INFORMATION. THE CONTENT HEREIN IS NOT ERROR-FREE AND MAY CONTAIN INCORRECT INFORMATION. YOU AGREE AND ACKNOWLEDGE THAT ANY INFORMATION CONTAINED HEREIN IS SUBJECT TO CHANGE WITHOUT NOTICE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM WORMHOLE FOUNDATION, WILL BE CONSTRUED TO CREATE ANY WARRANTY OR REPRESENTATION NOT EXPRESSLY MADE HEREIN. FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE TERMS OF SERVICE AND THE AIRDROP TERMS.