As I am sure the core of the Gridcoin community is aware, Gridcoin is currently undergoing a pivotal poll which will have a significant influence on the image of the coin. Despite this, only 217 stakeholders have made their voices heard, collectively amounting to a total of 9.3% of the total weight of the network, with 65% of this weight being in favour of a the new logo. The poll is closing on August 9, so if you have not voted yet you need to do it now.
Full disclosure: I am 100% in support of the change.
Why It Is Important To Vote
Gridcoin has a relatively unique democratic voting system incorporated into the wallet, allowing anyone involved with the network to make their voice heard on any issues. This includes both miners and investors. Executing a vote allows everyone involved to help guide the future of the network, which influences the value of your investment. The logo poll is especially significant, as it has the potential to overhaul the face of Gridcoin. I am convinced that this rebrand is key to raising the profile and value of Gridcoin for the following reasons:
- It will make the GRC logo recognisable:
- It brings the GRC logo in line with other coins in simplicity:
- It is a logo, not a piece of concept art:
How to vote
It is likely that many Gridcoin stakeholders may not know how to make their voices heard. Some may be entirely unaware their voice has weight in the first place. They may also keep their stake on an exchange, which prevents them from using their investment to add weight to the vote. What follows is an instruction set on voting in network polls, using the current logo poll as the example.
If you are keeping your GRC on an exchange, the first thing to do is install the Gridcoin wallet on your local machine. The wallet can be downloaded from here, and there is plenty of information available on the same site to get your wallet set up and synched with the network. Once you have got the wallet synched, navigate to the 'receive coins' tab, click your wallet address, and select 'copy address'.
Navigate to your exchange, and withdraw your GRC into your wallet using the address you just copied. It may take a while for the GRC to show up in your wallet, depending on the exchange.
Once you have received your coins, you are ready to use the weight of your coins to make your voice hear. In case you have locked your wallet, fully unlock it again for the time being. Navigate to Help --> Debug Window and go to the console tab. In the console tab, you can cast your vote using the following commands:
- To APPROVE the new logo:
execute vote Approval_of_the_Gridcoin_Logo_redesign Approve
- To REJECT the new logo:
execute vote Approval_of_the_Gridcoin_Logo_redesign Reject
For example, here I am voting to approve the logo:
You can see the vote you just cast, as well as poll statistics and everyone else's votes on the website gridcoinstats.eu's poll page. Note that this system is 100% transparent, so anyone can trace a vote back to its wallet.
Having completed the voting process, you could move your GRC back onto an exchange if you just sent it to your wallet to vote. However, retaining the GRC in your wallet will earn you 1.5% POS every year. It will also increase the rate at which you stake blocks if you are contributing to BOINC research to earn Gridcoin.
Now go make your voice heard!
Content credit:
Banner + Logo Art, @joshoeah
Footer, @me-shell