What is 'governance' and voting?

Governance and voting

Users with bonded tokens, Participants, are able to vote on Governance Proposals. The weight of a vote is directly tied to the amount of bonded tokens delegated to Node Operators.
The specifics of how a participant can vote on Proposals, or create Proposals, is detailed further in our Governance Framework.โ€‹
If the User does not want to vote on a Governance Proposal or misses it for any particular reason, the Node Operator will inherit the delegated tokens and can use them to vote with.
Node Operator voting power = initial stake + inherited delegated tokens (if participants do not vote)
Participant voting power = delegated tokens (if a participant chooses to vote)

What if I want to vote unilaterally, i.e. without a Node Operator/Validator?

If you are particularly interested or passionate about a specific governance proposal or do not agree with your bonded Node Operator, it is absolutely possible to vote unilaterally. However, you must still have delegated tokens, bonded with a Node Operator to do so. To do this, follow the instructions in the section Voting on cheqd.

Can Participants earn tokens?

In short, yes. Participants may be eligible for a percentage of the rewards that Node Operators earn during the course of running a node. Node Operators may offer a certain commission for bonding to them. These rewards may come in two forms:
  1. 1.
    Transaction fees
Writes to the cheqd Network incur what is known as a transaction fee, which is calculated based on gas. Gas may be higher when there are high transaction volumes on the Network, and vice versa. Node Operators may also set their own gas prices, above which they are considered in the pool of who creates that transaction block. However, we will not get into the nuances of gas here.
2. Block rewards
Block rewards depend on inflation. Inflation is the gradual increase in the number of blocks on the Network. A Node Operator may earn block rewards during a period of inflation, which can be disseminated to the Users delegated to the Node Operator. For this reason, it is suggested that token holders bond and delegate their tokens, to create a healthy Network and earn passive income.
These rewards are distributed continuously and instantly. You are able to see your accumulated rewards on our dashboard: https://cheqd.omniflix.co/ and can always claim them back into your account.