Proposal Deposit
Deposit LikeCoin and make the proposal voting starts
Since the FoTan upgrade, Likers can now deposit the required LikeCoin directly to start proposal voting.
Any validator can raise a proposal, but to enter the voting period, a deposit of 100k LikeCoin must be made within two weeks. The deposit may come from other validators or Likers.
If the proposal fails to get 100k LikeCoin within the two-week time frame, it will be abandoned and the deposit will be forfeited and added to the Community Pool. The usage of the pool will be determined by further proposals.
Please note that if the proposal fails to achieve quorum or receives more than one-third of the voting power as veto, the proposal will be rejected and the deposited LikeCoin will be expropriated to the Community Pool. If the proposal is successful, the deposit will be returned to the owners.
There are several ways to deposit for a proposal, but we suggest using dao.like.co n conjunction with the Keplr Browser Extension, Cosmostation Browser Extension or Authcore.
How to deposit LikeCoin for a proposal
Step 1: Log in to dao.like.co
Go to dao.like.co and select Keplr Browser Extension, Cosmostation Browser Extension or Authcore to log in. Note that Keplr Browser Extension and Cosmostation Browser Extension can only be used in desktop browsers, while Authcore is suitable for both desktop and mobile devices.
Step 2: Select the proposal to deposit
On the left-hand side menu, select "Proposal," and then click on the proposal which is in the deposit period.
Step 3: View the proposal detail page
The proposal page outlined the proposal content, click "Deposit".
Step 4: Deposit your LikeCoin to a proposal
Enter the amount of LikeCoin that you would like to deposit for the proposal.
A transaction fee is required. Please check it and agree to "Next".
Confirmation is required. Keplr and Cosmostation users will need to approve a pop-up box to confirm the deposit after clicking "Send." Authcore users can directly click "Send".
The deposit is on its way. Please wait for the transaction to finish.
Successful deposit for the proposal!
Step 5: Check deposit record
On the left-hand side menu, select "Transactions" and check your deposit record.
If the proposal fails to achieve quorum or receives more than 1/3 voting power as veto, the deposit will be forfeited and transferred to the Community Pool. However, if the proposal passes or is rejected for reasons other than those mentioned above, the deposit will be returned to the likers.
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