In order to participate in governance decisions, you need to stake BUMP tokens into the Governance dApp.
This grants you vBUMP, which represents your voting power. You get 1 vBUMP for every BUMP token you stake. You also earn staking rewards for staking your BUMP in the DAO.
You can unstake your BUMP at any time from the dApp.
You can optionally choose to lock your staked tokens for a period of up to 1 year. This grants you bonus vBUMP (up to 2x multiplier) which decays linearly until the end of the lock. Whilst locked, you cannot remove your tokens from Bumper’s governance dApp.
Staking in the DAO
To stake your tokens, navigate to Bumper’s DAO, and connect your wallet. On the staking tab, click on stake, and then decide how many of your BUMP tokens to commit to the DAO.
Staked tokens cannot be used to open a protection or earning position. In order to use them for this purpose, tokens must be unstaked from the DAO.
Locked tokens cannot be unstaked until the end of the lock period. Locked tokens do not grant additional rewards, but do grant bonus vBUMP voting power.
Bonus vBUMP voting power cannot be delegated to a third-party wallet.
Click here for more details on how to participate in Bumper’s DAO
