Wormhole governance has taken another step forward with the launch of Stake for Governance. This is your opportunity to participate in governance and influence the future direction of the Wormhole DAO and platform.
Staking for governance allows W holders to passively participate in Wormhole governance without requiring them to take an active role yet still contribute to its future. Choosing a delegate to represent your voting power in governance is an important decision. There are two resources where you can explore all available delegates and educate yourself about their platform:
Wormhole governance is currently available on Ethereum Mainnet, Arbitrum, Base, and Optimism. In case your tokens are on Solana, you will first need to transfer the tokens to one of the available chains. Tally provides the token transfer widget by incorporating Wormhole Connect so you don’t need to leave the application to transfer tokens. In case you already have W tokens on one of the chains, you can use those and don’t need to transfer from Solana.
Follow the below step-by-step guide to start staking for governance.
1. Go to Tally
Start by navigating to the Tally Governance Portal.
2. Get started and connect your wallet
First, click on Stake for Governance to get started. If you have not done so already, the website will prompt you to connect a wallet by displaying the screen below.
Click on Connect Wallet. Once the pop-up appears, select the wallet of your choosing. For the purposes of this guide, we will be using Metamask.
The wallet will prompt you to connect. In the case of MetaMask, the message will look like the one shown below. Confirm to proceed.
Next, the wallet prompts you to sign into Tally. Tally doesn’t use a username and password or other SSO methods to sign in, but uses only your wallet information to create your profile. Click Sign-in to proceed. The sign-in action does not require any gas.
3. Start the stake for governance process
You are first presented with some basic information. Once reviewed, proceed by clicking on the Start button.
4. Select a delegate
Now you can explore all the various delegates that are open to receiving delegations. Click on Select next to the delegate that you would like to understand better. Alternatively also navigate to the Wormhole Forum and browse delegate profiles there.
You can also choose to delegate your voting power to yourself. In that case, click on the I Want to delegate to myself button and proceed.
5. Review delegate profile
Next, read through the chosen delegate profile. Click on Continue if you are confident that the delegate can represent you in Wormhole governance. If you would like to continue browsing delegate profiles select Back and choose a different delegate. Remember, delegate profiles are also available on the Wormhole Forum.
6. Token transfer from Solana
Wormhole governance is currently available on Ethereum Mainnet, Arbitrum, Base, and Optimism. In case your tokens are on Solana, you will first need to transfer the tokens to one of the available chains. Tally provides the token transfer widget by incorporating Wormhole Connect. Proceed by interacting with the widget. In case you already have W tokens on one of the chains and would like to use those, then feel free to skip this step.
Please keep in mind that due to congestion, cross-chain transactions may take several tries to land on Solana, or they may be delayed. In case the token transfer widget doesn’t appear, please wait a bit or refresh the page.
To proceed with the token transfer, first select the network from which you wish to transfer and which tokens you want to transfer - Solana and W. Next connect your Solana wallet (Backpack in our example) and add the amount you wish to transfer.
Next, do the same for the network where you wish to receive the tokens. In our example, we will be using Base and connecting to the MetaMask wallet.
When ready click on Approve and proceed with transaction. The Solana wallet you chose will now prompt you to confirm the transaction. When confirmed, the widget will initiate the transfer. Once the transaction is completed the button will change to Confirm delegation. To continue, please click on the button.
Due to congestion, cross-chain transactions may take several tries to land on Solana, or they may be delayed. If an error occurs, simply try again.
7. Confirm and stake for governance
Once done, you are presented with the final screen where you can review and confirm details. If all is correct, tick the checkbox next to I read and agree to the Tally Terms of Service and finally, click on Stake for Governance.
The last step is to select if you would like to use free gas to stake for governance. If that option is available and you would like to use it, check the box next to the statement and click the button below. In this example, we will be staking 25 W, so the button reads Stake 25.0 W.
To complete the process, sign the message in the connected wallet.
This wraps up the guide. If you would like to further understand how the Tally application works, head over to the Tally docs and dive deeper into topics of interest or read the Stake for Governance FAQ.
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