Proposal Deposit
Deposit LikeCoin and make the voting starts
Since the FoTan upgrade, likers can directly deposit the likecoin required to click start proposal voting.
Any validator can raise a proposal. In order to have a proposal to enter the voting period, 100k LikeCoin has to be deposited within 2 weeks. The deposit may come from other validators and Likers.
In case the proposal fails to get 100k LikeCoin deposit in 2-week time, the proposal will be abandoned and the deposit will be forfeit and go to the Community Pool. The usage of the pool is determined by further proposals.
Please note, if the proposal fails to achieve quorum, or gets more than 1/3 voting power as veto, then the proposal will be turned down and the deposited LikeCoin will be expropriated to the Community Pool; else the deposit will be transferred back to the owners.

How to deposit LikeCoin for a proposal

Step 1. Login stake.like.co

Step 2. Select the proposal to deposit

Go to the left hand side menu and select "Proposal", click on the proposal which is on deposit period.

Step 3. Proposal detail page

The proposal page outlined the proposal content, click "Deposit".

Step 4: Deposit your LikeCoin to a proposal

Input the amount that you would like to deposit for the proposal.
Transaction fee is required, check it out and agree with "Next".
Confirmation is required. Authcore users directly click "Send", Keplr Browser Extension and Ledger Nano will need to accept a pop-up box or press a button to confirm it.
The deposit is on it's way, please wait for the transaction to finish.
Successful deposit for a proposal!

Step 5: Check deposit record

Go to the left hand side menu and select "Transactions" and check out your deposit record.
If the proposal passed, the deposit will be transfer back to the likers.
Last modified 1d ago