Our governance mechanism can be used for various things, such as changing staking and protocol parameters, such as staking incentives, validator rewards, etc.
Furthermore, proposals may be submitted for development grants or other ecosystem grants - keep in mind, anyone can submit a proposal, so feel free to do so for any significant improvement suggestion you may have!
What are shares?
Since April 2021 ADX stakers were provided with the power to participate in governance votes.
Shares represent each staker's voting power. They are issued by the staking smart contract for its own accounting.
Shares are calculated based on the ADX that you’re depositing and the ADX already in the contract at time of depositing, therefore the number of shares a staker has is likely to be different from the number of ADX in their staking bond.
The reason for this is that the share to ADX value only goes up over time: e.g. on first stake ever it’s 1 ADX for 1 share. But then the contract incurs reward, so 1 share = 1.0002 ADX.
In the AdEx Staking portal, shares are represented as a percentage:
How are the votes counted?
The votes are counted dynamically based on the current balance. They get finalized (or frozen) at the snapshot block.
Here's an example:
At the time you vote, you hold 400 ADX-STAKING tokens. Before the end of the vote, you spend 200 out of the 400 ADX-STAKING tokens - the votes will update to count your vote as 200 rather than the original 400 you voted with.
Similarly, if you incur more ADX-STAKING then the weight of your vote grows near real-time.
Keep in mind that for your vote to count, you have to keep your ADX staked until the snapshot block of the given proposal.