Celo Voting Guide

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BEFORE YOU START

In Celo, delegating takes the form of voting for a Validator Group. In order to delegate, you must install the Celo CLI to perform the tasks listed below.

You may use a Ledger Nano or X for all transactions made using the Celo CLI. To do so, append --useLedger to the commands. You may target a specific address on the Ledger using --ledgerCustomAddresses “[n]”, where n is the index to the target address. Detailed instructions for using a Ledger are available here.

All Celo Gold amounts should be expressed in wei (1cGLD = 1000000000000000000 wei)

If your cGLD is held in a ReleaseGold contract

1. LOCK CELO GOLD

  1. Ensure you have access to the beneficiary address on the contract.
  2. Execute this command on the Celo CLI
    celocli releasegold:locked-gold \

    --contract $CELO_RG_ADDRESS \

    --action lock \br>
    --value $VALUE

2. VOTE FOR THE VALIDATOR GROUP*

*In the following steps, $ADDRESS represents a vote signer for a ReleaseGold contract. You will need to use a Vote Signing Key.

  1. Create and authorize a Vote Signing Key using the process detailed here.
  2. Cast your votes with this command on the Celo CLI
    celocli election:vote \

    --from $ADDRESS \>

    --for $CELO_VALIDATOR_GROUP_ADDRESS \

    --value $VALUE
  3. After one epoch passes (up to 24hrs) activate your votes with this command on the Celo CLI
    celocli election:activate --from $ADDRESS

3. VIEW YOUR VOTES

  1. Execute this command on the Celo CLI
    celocli election:show $ADDRESS --voter

If your cGLD is in a standard account

1. LOCK CELO GOLD

  1. Execute this command on the Celo CLI
    celocli lockedgold:lock --from $ADDRESS --value $VALUE

2. VOTE FOR THE VALIDATOR GROUP*

*In the following steps, $ADDRESS represents either a vote signer for a standard account address.

  1. Cast your votes with this command on the Celo CLI
    celocli election:vote \>

    --from $ADDRESS \

    --for $CELO_VALIDATOR_GROUP_ADDRESS \

    --value $VALUE
  2. After one epoch passes (up to 24hrs) activate your votes with this command on the Celo CLI
    celocli election:activate --from $ADDRESS

3. VIEW YOUR VOTES

  1. Execute this command on the Celo CLI
    celocli election:show $ADDRESS --voter

UNBONDING

Unbonding your tokens involves revoking votes, unlocking the Celo Gold, and finally withdrawing the Celo Gold. Detailed instructions are here.

 

FAQ

HOW IS THE REWARD RATE DETERMINED?

Rewards for Locked cGLD holders are targeted at 6% annually. This percentage can be adjusted by the protocol.

HOW ARE REWARDS DENOMINATED AND DISTRIBUTED?

Holders of Locked Celo Gold that voted in the previous epoch for a group that elected one or more validators and have activated their votes are eligible for rewards. These rewards are denominated in Locked Celo Gold and reapplied as votes, so future rewards are compounded without the account holder needing to take any action.

WHAT ARE THE RISKS ASSOCIATED WITH DELEGATING?

In Celo, delegating is done in the form of voting for a Validator Group. Locked Celo Gold holders’ are not at risk of slashing. However, if there’s a slashing event, the group, validators, and cGLD token holders will all receive reduced rewards for the next month.

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