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Originally published 21st September 2024
The primary infrastructure of Breadchain is like a mix between a community currency and a credit union. You receive the community currency BREAD by providing xDAI and the yield generated (via sDAI) is then distributed based on a continuous 30-day voting cycle of BREAD holders. As a holder of BREAD, you are not only helping fund the construction of post-capitalist crypto, but are also accumulating voting power to decide where the yield made from BREAD baking is allocated among the projects that make up the Breadchain network.
Below are step-by-step instructions that explain how you can take part in Breadchain governance directly on the app page. If you’re having trouble understanding the UI, check out our documentation which goes into more detail about each element on the page.
1. If you haven’t already, bake BREAD and hold it over the current voting cycle so you can vote in the next one. If you don’t know how to do that, you can learn how to bake BREAD here.
2. Connect wallet and check that you have voting power. Your voting power is based on the amount of BREAD you held during the previous voting cycle in addition to any voting boosts you may qualify for. So the more BREAD you held in the previous month, the more voting power you receive.
3. Assign points across the voting options to determine the ratio you would like applied from your voting power. If you want to learn more about the projects you’re voting for, each project has shared what they do and how they plan on contributing to Breadchain in our member projects wiki page here.
4. Cast your vote by signing a transaction. We recommend using Safe as your primary wallet if you don’t want to pay the transaction fee for voting.
And there you go! Based on your voting power (the amount of BREAD, etc. you held over the previous voting cycle), you will directly influence the results of the distribution made at the end of the voting cycle.
Sometimes you change your mind. And that’s ok! In the voting interface we allow users to recast their vote in case they need to for as long as the voting cycle is running as many times as they want. Here’s how to do it.
Re-cast your vote by clicking on the re-cast voteton below the project cards.
Click proceed to confirm this is what you want to do.
Input your new vote and submit again as you did when you first voted.
So that’s how you can engage in a bit of on-chain economic democracy! If you’re looking for another way to support post-capitalist projects, you can do so by giving to our Open Collective or purchase the NFT associated with this piece. If you really want to look under the hood or contribute some development, you can check out our Github page or for generally contributing fill this form. If you’re working on something that you think fits with the ethos of Breadchain, apply to have you project a part of the network. Sign up for the newsletter and be sure to also join the discord server and the Breadchain Guild.
#spreadtheBREAD
