HOW DO I VOTE?

Veloce has always strived to find new ways to best empower our community. 

One area in which we can achieve this is through voting. Allowing community members to engage and make decisions, by providing a platform where members can share their voice in the decision-making process.

The launch of VEXT now provides Veloce with the tools to do just that and empower the next generation of fandom amongst gamers and motorsport enthusiasts. For more information about VEXT check out this latest article.

This gives members of our community the ability to vote on proposals, allowing them to have a greater influence and impact on our ecosystem. 

To become a member and start participating in these polls, the requirement is for holders to own at least 1 VEXT.

REGISTER TO VOTE

To begin voting on the latest proposals, you will first need to register to vote. This process only needs to be completed once but allows your voting weight to be calculated each time you vote on a proposal. To register you will need to complete the following steps:

1. Make sure that you have your account set up. If you don’t have an account yet, check out our post on how to create an account.

2. Head over to the “Proposals” tab and select “Register to vote”

3. Read the pop-up and once understood select "Continue".

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4. Once this process is successful, you will receive the following notification and be able to vote on all upcoming proposals.

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VOTING WEIGHT

In order for voting to be fair for everyone involved within the community, Veloce believes that it would be best for the voting weight of members to be calculated using the square-root method. 

This means a member's voting weight is proportional to the square root of the total number of VEXT tokens owned. An example of this method is shown in the following table:

Please note that a snapshot of the amount of VEXT held in your wallet and Race Clubs is taken when each proposal is created, therefore if you purchase any amount of VEXT after a proposal is created, your voting weight shall not be changed for the current proposal.

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VOTING PROCESS

To place a valid vote, members should carry out the following steps: 
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1. Go to the proposals tab on the VEXTVERSE App, vextoken.io/proposals. This is where all of our latest proposals are posted.

2. You’ll be able to see all of the proposals currently open. Select the “View details & vote” option. 

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3. Decide which choice you’d like to vote for and then “Submit Vote”.

If you have successfully placed your vote, the live results will be shown below the voting options.

Confirm the vote, and then once submitted you’ll be able to review the current standings of the proposal.

JOIN VEXT DISCORD & TELEGRAM!

If you have any further questions/unanswered queries or just wanna hang out with other community members, join our Discord & Telegram!

FAQS

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ARE THERE ANY REQUIREMENTS TO BE ABLE TO VOTE?

In order to be able to vote the only requirements are that you hold at least 1 VEXT in your digital wallet (or in Race Clubs) and that you have registered to vote.

WHAT IS REGISTERING TO VOTE AND HOW DO I DO IT?
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Registering to vote is a simple process that allows for your voting weight to be calculated each time you vote on a proposal. This process is only required once when you first create an account.

HOW IS THE VOTING WEIGHT OF MY TOKENS CALCULATED?

Voting weight is calculated using the square root method. An example of different scenarios showing this can be viewed in the table above in the “VOTING WEIGHT” section.

HOW DO I SEE THE RESULTS OF A PROPOSAL?

If a proposal is still live, you can only see the results if you have successfully submitted your vote. If you want to see the results from previous proposals then go to the “Closed proposals” tab which can be found on the main proposals page.

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I BOUGHT $VEXT, WHY AM I STILL UNABLE TO VOTE ON A PROPOSAL?

A snapshot of the total amount of VEXT held in your wallet and Race Clubs is taken before each proposal is created. Therefore, if you’re unable to vote, it’s because you had less than 1 VEXT in your wallet (or in Race Clubs) when the proposal was created.

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I SUBMITTED THE WRONG VOTE ON A PROPOSAL CAN I CHANGE MY VOTE?

Unfortunately, if you have already submitted your vote then you will be unable to change it.

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