The CyberMiles public blockchain has a unique governance structure. We have a transparent process for validator nodes to vote on on-chain governance issues such as software upgrades, stolen fund recovery, economic parameter changes etc.
Today, we are announcing a new DApp on the CyberMiles blockchain to support community inputs on important governance issues related to the CyberMiles Foundation.
The CyberMiles Foundation developed the CommunityVote DApp to allow CMT holders, hence the CMT Community, to share with us thoughts and opinions on governance matters. As a community, we work together to make CyberMiles better. It is also a key element for CyberMiles community autonomy.
Before the votes officially start, we will conduct a simulation vote at 12 AM on February 3, 2019 (Beijing time). The simulation vote will last for a week. The goal is to make everyone familiar with the process.
Since the Chinese celebration of Spring Festival is coming, we will make this simulation vote about upcoming Chinese blockbuster movies.
The voting rule is that 1 CMT is 1 vote. Each CMT Wallet address and its tokens can only vote once. Exchange addresses cannot participate in the voting. The CyberMiles Foundation will take a snapshot of all CMT addresses (non-exchange addresses) in order to determine the number of CMTs (and eligible votes) for each address.
The snapshot is scheduled at 14 PM February 2, 2019 (Beijing Time). After the snapshot, newly created wallet addresses and newly transferred CMTs will not be able to vote.
Users of the CMT Cube need to import the Cube wallet into the CMT Wallet in order to join the simulation vote and the future votes. Your staking status is not affected by the import process described below.
There are two import methods:
1. Import via mnemonic phrases. Please refer to the document "Import a CMT Cube account into a CMT Wallet (the mnemonic method)";
2. Import via the private key. Please refer to the document "Import a CMT Cube account into CMT Wallet (the private key method)".
Make sure to protect your private key and mnemonic during the import process!
1.Save the QR code image to your phone's album.
2.Open CMT Wallet, choose "Scan", click on “ALBUM”, and scan the QR code image.
3.Click "Confirm" to enter the CommunityVote DApp.
4.Select an option and submit
5.Review the very small gas fee, enter the password to pay the gas fee, and complete.
Q: Why do I need CMT Wallet to vote?
A: The voting rule is that one CMT equal to one vote, and one CMT can only vote once. Therefore, each vote must be signed with the CMT holder's private key and recorded on CyberMiles blockchain. CMT Wallet is the easiest tool to create and submit a voting signature.
Q: Why do I need to pay for gas?
A: The CommunityVote DApp is built on the CyberMiles public blockchain. Your vote will be verified by the validators (Supernodes) and be recorded on the blockchain, so you need to pay the Supernodes for the gas fee.
In addition, the Lity language is undergoing new feature development, which will support the contract creator to pay for the gas fee. That will eliminate the need for users to pay gas in future votes.
Q: What if I have different CMT addresses?
A: You can vote from one address at a time, and then switch to another address to vote again, using the multi-wallet function from CMT Wallet for example, or using different devices.
Q: Why can't I vote directly with the CMT Cube?
A: The CMT Cube has the private key of the account, but there is no user interface that supports the CommunityVote DApp. Therefore, the only way to vote from CMT Cube is to import the latter to a CMT Wallet. For more details on how to import CMT Cube's private key/mnemonic into CMT Wallet, please refer to "Import a CMT Cube account into a CMT Wallet (the mnemonic method)" and "Import a CMT Cube account into CMT Wallet (the private key method)". Please remember to protect the mnemonic and private key during the import process.
Note that staked CMTs can also be used as a vote but you will need to leave unstaked CMTs to pay for the vote-related gas fee.
Q: Will importing CMT Cube CMTs into CMT Wallet unstake my CMTs in the Cube?
A: No. After importing your CMTs, the CMT Cube and CMT Wallet will point to the same address. Your CMTs are still staked and continue to receive block rewards.