User Guide | How to Participate in Governance on CokeFinance.com?
We heard that some Coke lovers having troubles with the governance module on Cokefinance.com, and here we are hoping to bring some sweetness to you.
We noticed some of the community members said the USDT and BUSD interest rates are low. Here, we first apologize for the inconvenience, and as we are working hard on the improvement of the product, we decided to timely compose this tutorial for you.
As a decentralized platform with financial functions, most of the parameters of the protocol can be effected/voted/changed by the community through governance modules. Here’s how for you people doing Coke with us:
- Go to cokefinance.com, and click [Governance] - [Approve] - [Confirm in MetaMask] - [Create a proposal].
A new window will pop up. Choose a parameter/coefficient that you want to make a change in the drop-down. The communities have power to change a variety of things from “Proposal creation fee” to “Amount of token per block” and lending related ones like “liquidation rate”.
Here, we use “Interest base” as an example. Choose [Interest base] in the drop-down box and [the lending pool you want to make change]. Enter the value you propose. Please note that the system has set a range to keep the sustainable development for the protocol. Put in the details of your proposal, and [Confirm].
Pay the proposal creation fee, which is 0.1 COKE now. Similarly, proposal creation fee is a parameter that can be changed by community governance. In the near future, governance participants are allowed to get COKE rewards by initiating or voting for a proposal.
Choose an ongoing proposal to vote, and confirm. Currently, the vote lockup period lasts for 201600 blocks, which is about seven days. The length of the lockup can of course be changed by the community as well.
- Choose an ongoing proposal to vote, and confirm. Currently, the vote lockup period lasts for 201600 blocks, which is about seven days. The length of the lockup can of course be changed by the community as well.