Bankless Academy 👩🚀 🚀Creating a Crypto Wallet
This is a summary of our Wallet Basics lesson, along with a walkthrough for the quest. Check out the full lesson to level up your knowledge and claim your badge!Key TakeawaysYou’ll need a crypto wallet to access the world of blockchains!A wallet is like a blockchain account.Wallets are used to store cryptocurrency, log into blockchain apps, and more.These wallets work on both computers and phones.Creating a wallet is easy and takes around 5 minutes. We’ll show you how, in our video below!What...
Bankless Academy 👩🚀 🚀Funding a Wallet on Layer 2
Key TakeawaysThere are a number of ways to fund your wallet on an Ethereum scaling solution like Optimism, Arbitrum, or Polygon.Centralized exchanges often provide a direct Layer 2 onramp.Third-party payment apps enable users to fund a wallet on Layer 2 from a bank account or a debit or credit card.Protocol bridges let users send funds from Ethereum Mainnet to Layer 2.If you’re new to crypto, all the talk about the importance of Layer 2 (or L2) must seem a bit odd, confusing really. In contra...
Bankless Academy 👩🚀 🚀Registering Your Web3 Username
Key TakeawaysUsing the Ethereum Name Service (ENS), you can create a single username that represents you across multiple blockchains.ENS names simplify sending and receiving cryptocurrency by replacing your lengthy wallet address with a memorable label like web3explorer.ethYour ENS names become associated with your online presence: your cryptocurrency portfolio, your blockchain interactions, social media pages, avatars, websites, and emails, forming a single onchain identity.Registering an EN...
https://banklessacademy.com/
Bankless Academy 👩🚀 🚀Creating a Crypto Wallet
This is a summary of our Wallet Basics lesson, along with a walkthrough for the quest. Check out the full lesson to level up your knowledge and claim your badge!Key TakeawaysYou’ll need a crypto wallet to access the world of blockchains!A wallet is like a blockchain account.Wallets are used to store cryptocurrency, log into blockchain apps, and more.These wallets work on both computers and phones.Creating a wallet is easy and takes around 5 minutes. We’ll show you how, in our video below!What...
Bankless Academy 👩🚀 🚀Funding a Wallet on Layer 2
Key TakeawaysThere are a number of ways to fund your wallet on an Ethereum scaling solution like Optimism, Arbitrum, or Polygon.Centralized exchanges often provide a direct Layer 2 onramp.Third-party payment apps enable users to fund a wallet on Layer 2 from a bank account or a debit or credit card.Protocol bridges let users send funds from Ethereum Mainnet to Layer 2.If you’re new to crypto, all the talk about the importance of Layer 2 (or L2) must seem a bit odd, confusing really. In contra...
Bankless Academy 👩🚀 🚀Registering Your Web3 Username
Key TakeawaysUsing the Ethereum Name Service (ENS), you can create a single username that represents you across multiple blockchains.ENS names simplify sending and receiving cryptocurrency by replacing your lengthy wallet address with a memorable label like web3explorer.ethYour ENS names become associated with your online presence: your cryptocurrency portfolio, your blockchain interactions, social media pages, avatars, websites, and emails, forming a single onchain identity.Registering an EN...
https://banklessacademy.com/
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Delegation is a voting mechanic that allows a representative — called a ‘Delegate’ — to make votes on another person’s behalf.
Optimism handles voting and delegation via their ‘Optimism Agora’
dApp.You will maintain self-custody over delegated OP tokens, able to transfer or sell at any time.
Delegation is an onchain voting mechanic that allows a community member to temporarily grant their governance voting power to a community representative. This process allows a user to contribute to network governance, without having to actively monitor every proposed action or change in the ecosystem.
On Optimism, governance power is represented by holding OP tokens in a self-custody wallet. OP tokens do not leave your self-custody wallet during delegation. You can transfer or sell them at any time, but your Delegate will only receive the voting power held in your wallet. You can change your community Delegate at any time.
On Optimism we use a voting dApp called ‘Agora’ to look through eligible Delegates, perform delegation, and monitor proposals. Let’s take a closer look.
If you want to hold voting power, you’ll need to purchase OP tokens. You can continue without completing these two steps if you simply want to set up delegation.
1. Buy ETH on the Optimism Network.
You can find a step-by-step guide in our Explorer’s Handbook entry, ‘How to fund a Wallet on Layer 2’.
2. Swap your ETH to OP tokens on the Optimism Network, using a DEX.
Check out our Explorer’s Handbook entry on ‘How to Swap on a Decentralized Exchange’ for a step-by-step guide on using a DEX to buy OP tokens.
1. Open the Optimism Agora dApp: https://vote.optimism.io/
2. Connect your wallet.
3. Scroll down, and choose your favorite Delegate.
By clicking on a delegate, you will find a short statement, their vote history, and influence measurements. Take your time to find a representative that aligns with your vision for Optimism.
4. Hit the ‘delegate’ button, and approve the transaction in your wallet.
No OP tokens will leave your wallet throughout this process. There is a small gas fee, charged in ETH.
It’s time to explore better voting systems. We hope you’ve enjoyed this entry in the Explorer’s Handbook: ‘Delegating on Optimism’.
Don’t forget to collect this entry if you want to own a copy for easy reference on your travels, or to support future content at Bankless Academy. Safe travels, Explorer!
You can begin delegating while holding any amount of OP tokens — even zero! As you increase or decrease your OP holdings, your delegated voting power will be updated. You don’t have to redelegate every time you make changes to your OP holdings.
It comes down to your personal values, and your vision for how you want to see Optimism grow. Take some time to scroll through the Delegate profiles and see what resonates with you.
You can! Check out the ‘How to be a delegate’ guide, hosted on Optimism Docs.
Note: this won’t count for the ‘Optimism Governance’ lesson quest at Bankless Academy.
You can skip delegation and represent yourself by tracking votes under the ‘Proposals’ tab on Optimism Agora.
Note: this also won’t count for the ‘Optimism Governance’ lesson quest at Bankless Academy, but you can do so once you’ve collected your badge!
Author
Tetranome is the Project Champion at Bankless Academy, focusing on user experience, interface, design, and content.
Patron
This article was funded by Optimism.
This article does not contain financial or tax advice. Bankless Academy is strictly educational and is not investment advice or a solicitation to buy or sell any assets or make any financial decisions. Talk to your accountant. Do your own research.
Explore more lessons on Bankless Academy to level up your web3 knowledge.
Delegation is a voting mechanic that allows a representative — called a ‘Delegate’ — to make votes on another person’s behalf.
Optimism handles voting and delegation via their ‘Optimism Agora’
dApp.You will maintain self-custody over delegated OP tokens, able to transfer or sell at any time.
Delegation is an onchain voting mechanic that allows a community member to temporarily grant their governance voting power to a community representative. This process allows a user to contribute to network governance, without having to actively monitor every proposed action or change in the ecosystem.
On Optimism, governance power is represented by holding OP tokens in a self-custody wallet. OP tokens do not leave your self-custody wallet during delegation. You can transfer or sell them at any time, but your Delegate will only receive the voting power held in your wallet. You can change your community Delegate at any time.
On Optimism we use a voting dApp called ‘Agora’ to look through eligible Delegates, perform delegation, and monitor proposals. Let’s take a closer look.
If you want to hold voting power, you’ll need to purchase OP tokens. You can continue without completing these two steps if you simply want to set up delegation.
1. Buy ETH on the Optimism Network.
You can find a step-by-step guide in our Explorer’s Handbook entry, ‘How to fund a Wallet on Layer 2’.
2. Swap your ETH to OP tokens on the Optimism Network, using a DEX.
Check out our Explorer’s Handbook entry on ‘How to Swap on a Decentralized Exchange’ for a step-by-step guide on using a DEX to buy OP tokens.
1. Open the Optimism Agora dApp: https://vote.optimism.io/
2. Connect your wallet.
3. Scroll down, and choose your favorite Delegate.
By clicking on a delegate, you will find a short statement, their vote history, and influence measurements. Take your time to find a representative that aligns with your vision for Optimism.
4. Hit the ‘delegate’ button, and approve the transaction in your wallet.
No OP tokens will leave your wallet throughout this process. There is a small gas fee, charged in ETH.
It’s time to explore better voting systems. We hope you’ve enjoyed this entry in the Explorer’s Handbook: ‘Delegating on Optimism’.
Don’t forget to collect this entry if you want to own a copy for easy reference on your travels, or to support future content at Bankless Academy. Safe travels, Explorer!
You can begin delegating while holding any amount of OP tokens — even zero! As you increase or decrease your OP holdings, your delegated voting power will be updated. You don’t have to redelegate every time you make changes to your OP holdings.
It comes down to your personal values, and your vision for how you want to see Optimism grow. Take some time to scroll through the Delegate profiles and see what resonates with you.
You can! Check out the ‘How to be a delegate’ guide, hosted on Optimism Docs.
Note: this won’t count for the ‘Optimism Governance’ lesson quest at Bankless Academy.
You can skip delegation and represent yourself by tracking votes under the ‘Proposals’ tab on Optimism Agora.
Note: this also won’t count for the ‘Optimism Governance’ lesson quest at Bankless Academy, but you can do so once you’ve collected your badge!
Author
Tetranome is the Project Champion at Bankless Academy, focusing on user experience, interface, design, and content.
Patron
This article was funded by Optimism.
This article does not contain financial or tax advice. Bankless Academy is strictly educational and is not investment advice or a solicitation to buy or sell any assets or make any financial decisions. Talk to your accountant. Do your own research.
Explore more lessons on Bankless Academy to level up your web3 knowledge.
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