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On-chain voting for Mina Improvement Proposals (MIPs) – Part 2

Participate in voting on protocol-wide changes

In On-chain voting for Mina Improvement Proposals (MIPs) – Part 1,” Mina Foundation outlined the MIP process and shared details for upcoming community calls with MIP authors. Part 2 will cover the on-chain voting process and important voting details for upcoming MIPs. 

Upcoming On-Chain Voting

Review the upcoming MIPs below that will require your participation in on-chain voting in the coming weeks. Also, the table includes community call details/recordings, as well as upcoming voting details, such as the Voting Period for each MIP.  

MIP Background MIP Stage MIP Owner Call Details/

Recordings

Voting Period

(if MIP approved)

Voting Keyword Voting Threshold

(see ‘how are the voting results calculated’ section below)

Results Shared
MIP3: Kimchi, a new proof system Kimchi: a proposed upgrade to Mina’s proof system and

Kimchi: The latest update to Mina’s proof system

Finalization  mimoo#7625, engineering architect from O(1) Labs 3/28/23 at 11 AM MST Recording and presentation link Start: 5/20/23 at 6:00 AM UTC, Epoch 53, Slot 2820

 

End:  5/28/23 at 6:00 AM UTC, Epoch 53, slot 6660

MIP3 Relative majority [>50%]   June 2023
MIP4: Easier zkApp programmability on mainnet What are zkApps? 

zkApps Protocol MIP: Adding zk-programmability to Mina

Finalization bkase#2492 engineering architect from O(1) Labs 4/4/23 at 11:30 AM MST Recording link Start: 5/20/23 at 6:00 AM UTC, Epoch 53, Slot 2820

 

End:  5/28/23 at 6:00 AM UTC, Epoch 53, slot 6660

MIP4 Relative majority [>50%]  June 2023
MIP2: Reduce wallet creation fee Original discussion on Mina Research  Draft flushthefashion#5369 TBD TBD TBD TBD TBD

Last updated 5/14/22

On-Chain Voting

Ecosystem partner Granola Systems has developed a new homepage that displays on-chain voting by Mina account holders.

Who can vote?

Any Mina account can vote in two ways:

  • using its tokens;
    or
  • delegating its tokens to another account (‘the delegatee’) that can vote in its stead weighted by the stake delegated to it.

Please note:

  • an account that is not delegating can vote with their token balance.
  • an account that is delegating can choose to allow their delegatee to vote on their behalf 
  • Important Update: in the event that an account wishes to vote with their token balance, they can do so without removing their delegated stake (‘un-delegate’).

Please also note that invalid votes will not display in the dashboard results.

How to vote

A Mina account must send themselves a transaction using a Mina wallet containing a specific keyword. 

Each proposal has a specific keyword that will be used to vote. The exact spelling of the keywords is critical to ensure your vote is received and valid. See the example below where the keyword is yellow.  

  • To vote in favor of the proposal:
    • Enter yellow in the memo field
  • To vote against the proposal:
    • Enter the keywords no yellow in the memo field

A Mina account is able to change its vote by sending a new, valid vote transaction. Only the most recent and valid vote will be counted in the results. Invalid votes will not be counted. 

For further information on how to vote, please see the On-Chain Voting FAQ.

Viewing your vote

The votes will be displayed in an On-Chain Voting dashboard. Links to the dashboard will be shared before the start of the Voting Period for each MIP.

Please note that invalid transactions are not displayed in the dashboard. All vote transactions can be viewed on Mina block explorers. 

Important update: Multiple MIPs can be voted on during the same Voting Period in the same way you vote for an individual MIP.

How are the voting results calculated?

Voting results are weighted based on account stake: the more stake an account has, the more influence their vote has. For example, if one account holder has 70% of the stake, then that vote would not count as equal to a stake of 60%.

The outcome will be decided according to the voting threshold. For example, imagine if the results show that 75% of the total weighted stake (that took part in the vote) had voted in favor of a proposal while 25% of the weighted stake (that took part in the vote) had voted against the proposal, and the voting threshold is a relative majority, i.e more than 50%. The proposal would now be passed because the percentage of the total stake (that had taken part in the vote) had passed this threshold (since 75% is more than 50%).

When will I see the final results?

After the Voting Period, there will be a Results Period when the votes will be tallied and results announced. The outcome of the vote will be decided based on specific parameters, such as the voting threshold, according to each proposal submitted by MIP owners. These parameters will be specified in advance of the vote.

For additional questions about the on-chain voting process, please refer to the Frequently Asked Questions, and for more details about the overall MIP process, visit the MIPs Github page.

Mina Foundation and its ecosystem partners, including O(1) Labs, are committed to decentralized governance through on-chain voting. Under certain circumstances voting may be canceled or paused and run again if it is determined that the integrity of the voting process or results is compromised for technical or other reasons.

 

About Mina Protocol

Mina is the world’s lightest blockchain, powered by participants. Rather than apply brute computing force, Mina uses advanced cryptography and recursive zk-SNARKs to design an entire blockchain that is about 22kb, the size of a couple of tweets. It is the first layer-1 to enable efficient implementation and easy programmability of zero knowledge smart contracts (zkApps). With its unique privacy features and ability to connect to any website, Mina is building a private gateway between the real world and crypto—and the secure, democratic future we all deserve.

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