By using an on-chain voting system, KFI token holders can control the app protocol configuration (like application fees and other protocol parameters). KFI owners are eligible to receive application rewards in KLV.
As part of the KFI governance community, each application can decide its own fees, and 100% of the fees will be distributed autonomously to all KFI holders, who will need to manually claim the rewards. To receive application rewards, KFI holders must freeze their KFI.
With the launch of the Klever Explorer and K5 Wallet (Beta) synchronization directly into KleverChain, users can now vote with KFI (KDA) for any KleverChain Proposal.
Once a user has connected their KLV (Mainnet) account to Klever Explorer (kleverscan.org) using the Klever Wallet K5’s browser, they can now vote on proposals using KFI (KDA).
How to vote with KFI (KDA) on KleverChain:
- Using your Klever Wallet K5 browser, select at the bottom right the KleverChain wallet you want to use.
- Connect your KLV (Mainnet) account to Klever Explorer (kleverscan.org) using the K5 browser.
- On Klever Explorer, click on Proposals (kleverscan.org/proposals).
- Reference the proposal number you would like to Vote on in KleverChain.
- Select the main menu in Klever Explorer while logged into your K5 KLV (Mainnet) account and select “Create Transaction”.
- Once your dropdown “Create Transactions” menu opens, select “Proposals”.
- Enter the proposal number you would like to vote on and use your staked KFI to vote.
- A proposal will pass if more than 50% of all staked KFI votes in favor of the proposal.
- Users need to stake KFI in order to vote for any proposal.
- There is a locked-in timeframe for every proposal, which is set by the KFI holder who created the proposal.
- Timeframes can have a minimum of 1 epoch or a maximum of 40 epochs.