All Collections
Why do I need Voting Credit?
Why do I need Voting Credit?
Katya Zavyalova avatar
Written by Katya Zavyalova
Updated over a week ago
  • FOAM Map uses smart contracts to enable a decentralized map without a central authority or single point of failure. Voting has to be done with a separate contract.

  • Each time tokens are transferred between contracts, there’s a small fee charged by the Ethereum network, called gas, that fluctuates depending on how busy the network is at that time. 

  • Converting Approved FOAM into Voting Credit streamlines the voting process and makes it more user friendly.

  • It helps to avoid expensive gas by allowing for fewer MetaMask confirmations and fewer chances that a confirmation can go wrong during the voting process. 

After the vote underway period, the Voting Credit you used to vote might take one of 2 states: Expired Voting Credit and Unlocked Voting Credit.

  • Expired Voting Credit is Voting Credit left over from a vote you forgot to reveal. Votes that are not revealed during the Vote Reveal period are not counted and must be unlocked in My Assets before they can be used again.

  • Unlocked Voting Credit is Voting Credit available to be used after the Vote Reveal phase completes. It includes Voting Credit that was used in a winning vote and additional Voting Credit won as a reward for supporting the winning side of a challenge. 

Did this answer your question?