xCOFFIN / Governance Token
Today, We are happy to make an announcement about Governance Token, xCOFFIN.
How to get xCOFFIN?
You can stake COFFIN and receive xCOFFIN as a receipt for your portion of the pool. Please check at https://app.coffin.finance/staking
Like liquidity providing (LP), you will earn protocol fees according to your share in the pool, and your xCOFFIN receipt is needed as proof when claiming the rewards.
It’s not used for only a receipt for your portion of the pool, also used for governance token.
How to join votings?
You can join votings at https://snapshot.org/#/coffinfinance.eth
Now we are still testing some votings. And preparing proposal to change tokenomics.
Note that only the community members who hold relevant amounts of xCOFFIN at the time of the creation of the Snapshot block number would be able to vote on the proposal.
So you need to stake COFFIN to get xCOFFIN in advanced before voting periods.
Please this articles carefully. https://docs.snapshot.org/proposals/vote
> In order to vote on the given proposal, you need to have a sufficient amount of tokens at the time when the block was created. This means that if you attempt to vote on a proposal where the block number configured is in the past, and you were not holding the required token back then, your vote will not be counted.
How we start votings
The voting period usually lasts for three days and starts 24 hours after the proposal is created.
You need to stake COFFIN to get xCOFFIN in advanced.
Now, we are testing some proposals at https://snapshot.org/#/coffinfinance.eth
You can freely try it out. ( We will delete test proposals later. )
