StellaSwap Gov Launch: Boost Farm Rewards via xSTELLA Voting

StellaSwap
3 min readJan 2, 2024

We’re excited to embark on a new adventure with the upcoming launch of our V1 governance mechanism! 🔥

As we begin to experiment with decentralization, we’re taking the first steps towards a future governed by our community. Actualizing a core utility for STELLA token, our V1 governance will confer voting rights towards xSTELLA holders, empowering them with the ability to boost farm rewards of our existing pools.

We’ll be putting up a fixed and rolling amount of STELLA rewards every round to allocate to a pool of the community’s choosing. Here’s how it will work;

1️⃣ The Stellaswap team will create a proposal at our governance forum: Opensquare.

2️⃣ Voting will last 1 week, and will feature a curated list of pools for xStella holders to vote on. xSTELLA holders will possess voting rights as to their preferred pools to boost.

3️⃣ At the end of the voting period, whichever pool has the most votes will be allocated bonus Stella incentives for three weeks.

4️⃣ The cycle continues every round (3 weeks).

The pools that xSTELLA holders can vote on will be Au Naturel pools, which are pools that aren’t currently being incentivized. As aforementioned, this is only V1 of governance. We’re using this as an experiment to learn and we expect to tweak things as we move forward.

Key Dates

Our governance will start next week. Here are the key dates;

1st Round

💠 Voting Start: January 7th
💠 Voting End: January 14
💠 Rewards Go Live: January 15 — February 5th

2nd Round

💠 Voting Start: January 28
💠 Voting End: February 4
💠 Rewards Go Live: February 5th — February 26

3rd Round

💠 Voting Start: February 19
💠 Voting End: February 26
💠 Rewards Go Live: February 27th —March 19

Continual Path of Optimization

Our main objective is to systematically roll-out governance so that we can optimize every step of the way. We’ll seek to ask key questions like;

  • Is winner take all the best approach?
  • Is three weeks a good timeframe?
  • And finally, at some point we’ll want to get away from a Stellaswap curated list of pools and get to a community driven selection process

All this and more we will work towards over time. Stellaswap isn’t going to jump into governance with its eyes closed — we understand that this is a challenging and important thing to get right. So we expect that over the course of 2024 we will continue to refine the process, and eventually bring this activity fully on-chain over the long term.

We at Stellaswap wish you Happy Holidays, and can’t wait to hear from you on our new governance platform!

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