Tinyman poolers are now able to start taking part in governance voting and earn governance rewards with their LP tokens. But not all LP tokens are eligible to vote. Tinyman has indicated that it will always make sure to share eligible LP tokens in its lists. Eligible LPs will also carry a governance eligibility badge -GOV badge- in the Tinyman’s interface.
Eligible LP token holders have to visit the Algorand Governance portal website and participate in governance period by committing their LP tokens. The portal will tell the poolers how much equivalent ALGO would their commitments be worth after they commit. The poolers can then cast their vote. Algorand Community Governance eligibility is fully gained once a vote is cast.
It is important to note that Algorand’s rules dictate that any LP Token that has gained eligibility has to maintain the committed amount all throughout the governance period. There is a minimum amount of commitment, that is 1 LP token at the moment (which can be changed by the Foundation). Token is worth different amounts of ALGO for every LP token, and changing constantly with the market.
Algorand
Mining
Governance
DeFi
