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| --- | ||
| id: staking-with-helium-vote | ||
| title: Staking on Helium Vote | ||
| pagination_label: Helium Vote | ||
| sidebar_label: Staking on Helium Vote | ||
| description: Helium on Helium Vote Documentation | ||
| image: https://docs.helium.com/img/link-image.png | ||
| slug: /governance/staking-with-helium-vote | ||
| --- | ||
|
|
||
| import useBaseUrl from '@docusaurus/useBaseUrl' | ||
|
|
||
| Helium utilizes [Modular Governance](https://github.com/helium/modular-governance) which is an open | ||
| application built by the Helium Foundation to organize and manage vote escrow tokens, delegation, | ||
| and more. Modular Governance is deployed as [Helium Vote](https://heliumvote.com). Positions can be | ||
| created and later managed within Helium Vote at any time at [heliumvote.com](https://heliumvote.com) | ||
| or within the Helium Wallet App. | ||
|
|
||
| ## Creating a Position | ||
|
|
||
| Anyone with HNT, MOBILE, or IOT tokens in their Helium Wallet App or Solana-compatible browser | ||
| wallet (such as Phantom or Backpack) can create a position. These positions can be used for voting | ||
| in Helium Network or subnetwork governance. | ||
|
|
||
| In the case of positions created from HNT, the position can be [delegated](#delegating-stakes) to a | ||
| subnetwork in order to reinforce that network's protocol score and earn a portion of its token | ||
| emissions. While IOT or MOBILE positions can be created through their respective subnetworks, those | ||
| positions are only eligible for voting power and cannot currently be delegated for the purposes of | ||
| earning rewards. | ||
|
|
||
| This guide outlines using Helium Vote with the [Helium Wallet App](/wallets/helium-wallet-app). To | ||
| use Helium Vote on a desktop browser, a Solana-compatible browser wallet can be used (such as | ||
| Phantom or Backpack) by navigating to [heliumvote.com](https://heliumvote.com). | ||
|
|
||
| ### Staking in the Helium Wallet App | ||
|
|
||
| Staking in the Helium Wallet App can be done by navigating to the "Governance" tab within the Helium | ||
| Wallet. Ensure you select the token you want to lock up (HNT, MOBILE or IOT) at the top. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/Governance-tab-on-HW.jpg')} | ||
| style={{ maxHeight: 325 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| The Governance tab is the fourth tab from the left. The HNT button at the top is the default | ||
| selection. | ||
| </figcaption> | ||
| </figure> | ||
| <br /> | ||
|
|
||
| Once in the "Governance" tab, you will see "Your Voting Power". Click "Your Voting Power" to see | ||
| your total voting power, and for the ability to lock HNT/MOBILE/IOT. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/Your-voting-power.jpg')} | ||
| style={{ maxHeight: 400 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| Positions can be made and viewed in the "Your Voting Power" section of Helium Vote | ||
| </figcaption> | ||
| </figure> | ||
| <br /> | ||
|
|
||
| As long as HNT, MOBILE or IOT is available in your linked account, new positions can be created by | ||
| tapping on the "Lock Tokens" button within the governance view. | ||
|
|
||
| ### Lockup Period {#lockup-period} | ||
|
|
||
| To build a secure voting system, Helium gives priority to votes from token holders willing to align | ||
| themselves with the long-term health of the Helium Network. This is done by allowing holders to lock | ||
| up their tokens to receive a vote-escrow position in proportion to the amount of tokens and time | ||
| allocated to the position. The longer tokens are locked up, the greater the vote power of the | ||
| position. | ||
|
|
||
| Two lockup period types are available. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/lockup-type.jpeg')} | ||
| style={{ maxHeight: 275 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption>Selecting your lockup type, Decaying or Constant.</figcaption> | ||
| </figure> | ||
| <br /> | ||
|
|
||
| #### Decaying | ||
|
|
||
| Tokens are locked for a fixed duration and are released in full at the end of the defined lockup | ||
| period. Vote power declines linearly until release. This effectively starts the cooldown at the | ||
| moment of lockup. | ||
|
|
||
| You will be required to close the position to return the locked HNT to your wallet after the | ||
| cooldown period has ended. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('img/modular-governance/decaying.jpg')} | ||
| style={{ maxHeight: 'initial', padding: '0 0 8px 0' }} | ||
| /> | ||
| <figcaption> | ||
| You lock 10.000 tokens with a lockup duration of one year. They are then unavailable for the | ||
| next one year. After this time, you can withdraw them again. | ||
| </figcaption> | ||
| </figure> | ||
|
|
||
| #### Constant | ||
|
|
||
| Tokens are locked indefinitely. At any time you can start the unlock process, which lasts for the | ||
| initially chosen lockup duration. Vote power stays constant until you start the unlock process, then | ||
| it declines linearly over the lockup period until release. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('img/modular-governance/constant-lockup.jpg')} | ||
| style={{ maxHeight: 'initial', padding: '0 0 8px 0' }} | ||
| /> | ||
| <figcaption> | ||
| You lock 10.000 tokens with a lockup duration of one year. After three years you decide to start | ||
| the unlocking process. Another year after that, you can withdraw the tokens. | ||
| </figcaption> | ||
| </figure> | ||
|
|
||
| ### Duration | ||
|
|
||
| The duration of your cooldown is set in units of days. The longer your tokens are locked up, the | ||
| more veHNT/veMOBILE/veIOT will be issued. If you chose the 'Constant' lockup period, this duration | ||
| takes effect after the 'Unlock' action is executed. | ||
|
|
||
| While it is possible to set a higher duration than 4 years, no additional vote power multiplier will | ||
| be added. | ||
|
|
||
| ### Vote Power Multiplier | ||
|
|
||
| veHNT/veMOBILE/veIOT positions can be strengthened by increasing the duration that they are locked | ||
| for. The resulting multiplier designates the amount of vote and delegation power (delegate power | ||
| only applicable to veHNT) of the position. It is not indicative of an investment return. | ||
|
|
||
| In other words, if you locked up 10 HNT for 6 months, you'd get the same 10 HNT back 6 months later. | ||
| During this time you would be able to [delegate](#delegating-stakes) your position to a network to | ||
| get a return in that network's tokens. | ||
|
|
||
| Positions created during the [landrush](#landrush) period received an additional 3x multiplier on | ||
| the overall lockup multiplier. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('img/modular-governance/duration.jpeg')} | ||
| style={{ maxHeight: 250 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| The multiplier affects a position's voting and delegation power but does not mean more HNT is | ||
| returned. | ||
| </figcaption> | ||
| </figure> | ||
|
|
||
| ### Delegating to a Subnetwork (veHNT Only) {#delegating-stakes} | ||
|
|
||
| A position will not earn any token return until it is delegated to a subnetwork. A position without | ||
| delegation earns voting rights, but no token return. | ||
|
|
||
| Once you select how much HNT you want to lock up, an interface will appear to allow you to delegate | ||
| your veHNT to a subnetwork for rewards. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/delegate-to-subdao.jpeg')} | ||
| style={{ maxHeight: 350 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| You may choose to delegate your HNT position to either the MOBILE or IOT subnetwork. | ||
| </figcaption> | ||
| </figure> | ||
|
|
||
| ### Confirming your Position | ||
|
|
||
| Once parameters are settled in the Helium Vote UI, you are now ready to create your | ||
| veHNT/veMOBILE/veIOT position. | ||
|
|
||
| The Helium Wallet App will ask for confirmation before issuing the Solana transaction that creates | ||
| the veHNT/veMOBILE/veIOT position. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/estimated-changes.jpeg')} | ||
| style={{ maxHeight: 375 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| After pressing "Lock Tokens", a Solana transaction is issued to create the position. | ||
| </figcaption> | ||
| </figure> | ||
|
|
||
| ## Managing Positions | ||
|
|
||
| ### Undelegating veHNT | ||
|
|
||
| Once a position has been delegated, it can be undelegated in the same interface. Delegations can be | ||
| changed at any time, however, it will take one epoch for the position to be available for | ||
| redelegation. The position must be delegated for the entire epoch to receive rewards for that epoch. | ||
| Received rewards need to be claimed manually. Only then will they be sent to the wallet the veHNT | ||
| position is in. A delegated position can only be undelegated after all accrued rewards have been | ||
| claimed. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/undelegate.jpeg')} | ||
| style={{ maxHeight: 375 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| You will be required to approve a transaction in your wallet when you undelegate your veHNT. | ||
| </figcaption> | ||
| </figure> | ||
|
|
||
| ### Splitting a Position | ||
|
|
||
| A position can be divided among multiple positions. This can be helpful if you wish to delegate your | ||
| veHNT position to multiple networks (IOT or MOBILE) or set different lockup times to different | ||
| positions. | ||
|
|
||
| Be warned, splitting a [landrush](#landrush) position after the initial 10 day period will result in | ||
| losing the multiplier for the position being split or transferred off the position. | ||
|
|
||
| You must undelegate before splitting a position (veHNT only). You can redelegate after the split is | ||
| complete. | ||
|
|
||
| Positions that are in any active votes cannot be split. To change a position during a vote it must | ||
| be relinquished from the active vote. | ||
|
|
||
| ### Transfer a Position | ||
|
|
||
| Positions cannot be transferred from one account to another. Positions can only be transferred from | ||
| one position to another within the same account. Positions can only transfer to positions of greater | ||
| or equal duration. This functionality is useful for consolidating positions. Landrush positions | ||
| cannot have more locked tokens transferred into them after the landrush period. Any veHNT | ||
| transferred out of a landrush position will lose the 3x multiplier bonus. | ||
|
|
||
| If a veHNT position, you must undelegate both positions before transferring. Once you've undelegated | ||
| your position, you can click on your locked position to delegate your position to a new subnetwork. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/Split-Menu.jpg')} | ||
| style={{ maxHeight: 300 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption>Once your position is undelegated, click on the position to transfer it.</figcaption> | ||
| </figure> | ||
|
|
||
| ### Extending a Position | ||
|
|
||
| Extending a position will lengthen the time it will take to cooldown. Position holders may extend a | ||
| position to gain a larger multiplier for voting power or delegation purposes. | ||
|
|
||
| ### Unlocking a Position (Cooldown) | ||
|
|
||
| Before a position can become unlocked, you must first undelegate any delegations you have to | ||
| existing subnetworks. If a position was created with a 'constant' [lockup period](#lockup-period), | ||
| the ability to 'Unlock' the position will be visible in the position as long as the unlock has not | ||
| yet been initiated. A constant lockup position will first need to be unlocked before the cooldown | ||
| period begins. | ||
|
|
||
| Unlocking the position will begin the cooldown decay process. The time this takes is the lockup | ||
| duration set during the creation of the position. Vote power value will decay to 0 during this | ||
| cooldown period. | ||
|
|
||
| You will be required to close the position to return the locked up HNT/MOBILE/IOT to your wallet | ||
| after the cooldown period has ended. You must claim all tokens from the position and undelegate the | ||
| position before the Close Position button is available as an option. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('img/modular-governance/two-years.jpg')} | ||
| style={{ maxHeight: 250 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| This position will unlock over the period of 2 years once the unlock has been initiated. | ||
| </figcaption> | ||
| </figure> | ||
|
|
||
| ## Landrush {#landrush} | ||
|
|
||
| For the first 10 days following the Solana migration, HNT holders were eligible to lock up their HNT | ||
| for a 'landrush' bonus multiplier of 3x on the amount of | ||
| veHNT.<sup>(</sup>[^1]<sup>,</sup>[^2]<sup>)</sup> | ||
|
|
||
| If a landrush position is split after the first 10 days have lapsed, or if HNT is transferred from a | ||
| landrush position into another position, the landrush bonus is forfeited on the HNT leaving the | ||
| landrush position. | ||
|
|
||
| No HNT can be added to a landrush position. | ||
|
|
||
| [^1]: | ||
| [HIP 76: Simplify Lockup and veTokens](https://github.com/helium/HIP/blob/main/0076-linear-lockup-curve.md#landrush-3x-multiplier) | ||
|
|
||
| [^2]: | ||
| [HIP 77: Launch Parameters for Solana Migration](https://github.com/helium/HIP/blob/main/0077-solana-parameters.md) | ||
|
|
||
| ## Automatically Created Validator Positions | ||
|
|
||
| For token holders operating validators through the Solana migration, a veHNT position was | ||
| automatically created based on the existing staked position previously tied to validators. The | ||
| [Validator migration guide](/solana/migration/validator-operator) is a valuable reference in | ||
| understanding specific details for former Validator operators. | ||
|
|
||
| These positions are not automatically delegated to a subnetwork and are set with a constant | ||
| [lockup period](#lockup-period) by default. | ||
|
|
||
| As a note, these Validator positions will appear as one large position. | ||
|
|
||
| ## Possible Errors | ||
|
|
||
| ### Insufficient SOL Balance | ||
|
|
||
| Creating new veHNT/veMOBILE/veIOT positions requires more SOL than standard token claims or | ||
| account-to-account transfers. To lock up your HNT you will need approximately 0.006 SOL in your | ||
| account to create the position. If you do not have enough SOL and proceed with the transaction, a | ||
| notification will appear and allow you to swap a portion of your existing HNT/MOBILE/IOT to SOL to | ||
| proceed with the transaction. | ||
|
|
||
| <figure className="screensnippet-wrapper"> | ||
| <img | ||
| src={useBaseUrl('/img/modular-governance/no-sol-error.jpg')} | ||
| style={{ maxHeight: 500 }} | ||
| className="add-border-radius add-shadow add-shadow-margin" | ||
| /> | ||
| <figcaption> | ||
| Transaction warning noting the user does not have enough $SOL in order to continue. | ||
| </figcaption> | ||
| </figure> | ||
| <br /> |