CoinFLEX Vote Token Issuance and Next Steps

Dear CoinFLEX Community,

Below is an overview of the process for participating in CoinFLEX’s first governance vote:

  1. Locate your CoinFLEX vote tokens (CFV) in your CoinFLEX wallet
  2. Transfer your CFV tokens to an off-exchange wallet (i.e MetaMask)
  3. Navigate Commonwealth to discuss and comment on the proposal
  4. Cast your official vote in Snapshot


Please read the
How-to-Vote Guide and watch the How-to-Vote Tutorial for detailed instructions on how to execute the above steps. 

If you are a CoinFLEX creditor with locked balances, you will see your CoinFLEX vote tokens (CFV) in your CoinFLEX wallet. The asset price was taken on 10:00 AM UTC Thursday, September 22, 2022 to calculate the dollar value of everyone’s locked balances. 

Voting is also available to anyone holding BCH on the SmartBCH network as well as  flexUSD on either the Ethereum or SmartBCH network. Note: If you are a BCH holder on the sBCH network, you will be issued CFV-BCH in your CoinFLEX wallet. flexUSD holders on either ERC20 or SEP20 who wish to vote will not be allocated CFV tokens, and instead should vote using their flexUSD balances.


The CoinFLEX Snapshot proposal will allow the following contract holders to participate in the vote:

  • CFV on ERC20: 0x14c92fA89A2322fD2fcC928620ac67503c05627B
  • CFV-BCH on SEP20 (for SmartBCH BCH holders): 0x7cb4E8c7A6f16165604522cE995189858f4cb6Ee
  • flexUSD on ERC20: 0xa774FFB4AF6B0A91331C084E1aebAE6Ad535e6F3
  • flexUSD on SEP20: 0x7b2B3C5308ab5b2a1d9a94d20D35CCDf61e05b72

 

Note for BCH holders on sBCH

  • Users will need to send their CFV tokens from CoinFLEX balances to a supported off-exchange wallet (i.e MetaMask) before the vote proposal is published on Snapshot.org on 8 AM UTC on Sunday, September 25, 2022
  • Users who have their SmartBCH BCH on exchanges should withdraw it to their Metamask
  • Users who already have SmartBCH BCH in their wallets (i.e Metamask) do not need to do anything. 
  • Users who have sBCH, flexUSD and CFV in one account will be able to exercise their full voting power with a single vote action. Otherwise, you need to vote separately from each account holding a vote token.


Key Dates

Vote Token Transfer Period: 12 PM UTC on Thursday, September 22, 2022 to 8 AM UTC on Sunday, September 25, 2022

Official Snapshot Voting Period: 8 AM UTC on Sunday, September 25, 2022 to 4 AM UTC on Tuesday, September 27, 2022

Thursday, September 22

  • Asset pricing snapshot taken for CoinFLEX deposit balances at 10 AM UTC 
  • Vote tokens are issued to creditors starting 12 PM UTC

 

Sunday, September 25

  • Official Snapshot voting begins at 8 AM UTC (users must have withdrawn CFV tokens from CoinFLEX to their off-exchange wallet prior to this snapshot)

 

Tuesday, September 27

  • Official Snapshot voting closes at 4 AM UTC

 

You may also refer to the CoinFLEX Investor Portal for further information on how to participate in CoinFLEX’s first governance vote.

 

How-to-Vote Tutorials 

Restructuring Proposal: How to Vote

Introduction to CoinFLEX Governance

CoinFLEX Governance: Using Commonwealth (Discussion Forum)


Regards,

The CoinFLEX Team

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