There are two main reasons to use vote delegation. First, you may want to delegate your votes to someone who is more technical or is paying more attention to the various proposals being made to the protocol. Second, you may wish to vote on your own, but for convenience delegate your votes to a hot wallet while holding your staked OGV in a safer cold wallet.
If you staked OGV prior to March 2023, you will need to self-delegate as a separate transaction. All new first-time stakers will have their voting power self-delegated going forward.
How to Register (on-chain)
- Visit https://governance.ousd.com/register-vote, click "Register to Vote", and submit the transaction.
Once veOGV holders are registered to vote, they may choose to delegate their voting power specifically for off-chain proposals on the Origin DeFi Governance Snapshot Space. Choosing this option does not strip the token holders of their voting power. The delegatee receives the extra voting power only on proposals the delegator has not voted on. This is convenient when users want someone they trust or even one of Origin's team members to make governance decisions regarding Origin's ecosystem. It is also useful when users have veOGV stored more safely in a hardware wallet and don’t want to go through the hassle of connecting it to the computer. A more accessible Ethereum wallet (e.g. MetaMask) can be used to vote by having voting power delegated to it from the hardware wallet.
How to Delegate (off-chain)
- Type in the address or ENS name you want to delegate to.
- There is an option to limit the delegation power to only OUSD by selecting "Limit delegation to a specific space" and typing in “ousdgov.eth”.
- Click confirm to save your delegation.
Delegating your voting power only for the ousdgov.eth Snapshot space
After completing these steps, the veOGV voting power is successfully delegated to the address specified.
veOGV can be delegated to any address, though you may want to consider delegating to one of the Recognized Delegates.