Choice Coin DAO Vote 1: Learn Tips from Questions asked
Choice Coin, the largest open-source project on the Algorand blockchain is set to fulfil its promise of vote 1. The goal for Choice Coin is to help solve the decentralized governance problem by building the world.
Here are answers to some questions asked by community members on Reddit about Choice Coin VOTE 1.- Learn from it.
To participate in vote 1, do we have to remove our staking on yieldly?
You don’t have to unstake to vote with your $choice. You have two options available for you. Firstly, thanks to TinyMan Relaunch, you can buy $Choice from TinyMan with your ALGO and vote with it. Secondly, you can wait till the end of $CHOICE- $CHOICE pool on Yieldly then you unstake and vote.
The stake $choice to earn $choice pool will end probably on 26th January, while you have the opportunity within 25th to 27th to participate in vote 1.
So, the choice is yours.
When will the $Choice used for vote 1 be released to me?
All rewards will be distributed by Monday, January 31st at 5:00 PM EST.
Note that any Choice sent after the voting deadline, Thursday, January 27th at 5:00 PM will not count, will not be rewarded, and will not be returned.
What’s the correct full meaning of DAO?
A question was asked; does the “A” stands for Autonomous or Autonomic? - The full meaning of DAO is Decentralized Autonomous Organization. — it is not Autonomic.
What’s the reward after voting look like?
The rewards pool for Vote 1 will be tripled from Vote 0. If up to 3,000,000.00 Choice is committed to vote, then the reward pool will be 1,800,000.00 Choice. If up to 6,000,000.00 Choice is committed to vote, then the reward pool will be 3,000,000.00 Choice. If over 6,000,000.00 Choice is committed to vote, then the reward pool will be 4,200,000.00 Choice. The rewards will be distributed proportionally to all voters.
How to vote
I. On Tuesday, January 25th at 5:00 PM EST a link will be made available to the Choice Coin voting decentralized application.
II. Voters will be able to connect their wallets to the decentralized application via AlgoSigner or the Algorand Wallet.
III. Voters may then enter the amount of Choice with which they desire to vote.
IV. Voters will then select the option associated with their respective vote and click a vote button.
You can like, comment on Choice Coin DAO social media.
Watch recent AMA with Choice Coin Co-Founder Brian Haney. https://www.youtube.com/watch?v=HxYcQ8eRqpE
Hey, don’t forget to grab a copy of Choice Coin Digital Magazine for FREE via the link below.