🔒What is SCI Token Locking?

Locking SCI tokens is a way to participate in the PoSciDonDAO governance system. When you lock your tokens:

• You gain voting power.

• Your tokens are safely stored in the smart contract which underwent multiple audits.

• You can use this voting power to participate in DAO Operations proposals and decisions.

Think of it like putting your tokens in a special vault that gives you the right to help make decisions for the DAO. The more tokens you lock, the more say you have in the governance process.

Important Things to Know About Locking Tokens:

• 🔒 Lock Duration: Your tokens will be locked until after you finish voting or proposing. This prevents people from voting and immediately withdrawing their tokens and, thus, potentially manipulating the governance system.

• 💫 Voting Power: Your voting power is based on the type of proposal.

  • For proposals with linear voting, your voting power is directly proportional to how many tokens you lock. For example, if you lock 100 SCI tokens, you get 100 voting power units.

  • For proposals with quadratic voting, your voting power is equal to the square root of the number of locked tokens. For example, if you lock 100 SCI tokens, you get 10 voting power units. This is considered an anti-whale system as it prevents large token holders to solely dictate the outcome of the proposals. You can read more about it here.

• 🔓 Unlocking: You can only unlock your tokens after your voting/proposal lock period ends. This ensures fair participation in governance.

• ⚠️ Emergency Situations: In rare emergency cases, the DAO can enable emergency mode which allows users to withdraw regardless of lock status.

• 🏦 Security: Your tokens are held in a secure smart contract that has been carefully designed and audited.

• 📊 Transparency: All locking actions are recorded on the blockchain and can be verified. In addition, you can view your transaction history in the account menu of the dApp after you log in.

Before You Lock:

1. Make sure you understand that your tokens will be locked and unavailable for transfer while participating in governance

2. Ensure you have enough ETH in your wallet for transaction fees

3. You'll need to approve the contract to use your tokens before locking (this is a one-time process)

4. You can lock any amount of tokens you own - there's no minimum requirement

After locking your tokens, you can immediately start participating in DAO governance by voting on proposals in the Operations and Research sections.