Participating in staking and governance requires users to transfer their native Celo tokens to a ‘Locked’ smart contract. This way of working ensures that the asset cannot be used more than once in the same vote. The locked Celo can also be used for voting on governance proposals.
Users also have the option of creating a voting key which allows the wallet’s private key to be held offline, while the voting key remains online to participate in governance and electing validators.
Voting for validators is proportional to a user’s Locked balance. This means that the more tokens a person owns, the greater their influence will be in the validator election process. A single account can split their Locked balance to have outstanding votes for up to 10 groups.
Updated 2 months ago