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Create, update, or delete an Alliance

Transactions that affect Alliances can only be executed via the governance module. All stakers agree on creating, updating, or disbanding Alliances through governance proposals.

Create an Alliance​

Creating an Alliance uses the /alliance.alliance.MsgCreateAllianceProposal type. This proposal type describes the Alliance attribute with the following properties:

  • Denom: The address of the Alliance asset that the community wants to whitelist.
  • RewardWeight: Specifies the ratio of rewards and voting power given to each Alliance asset. It does not need to sum to 1 (rate = weight / total_weight).
  • TakeRate: Defines an annualized reward rate that will be redirected to the distribution rewards pool. Used for liquid staking derivatives.
  • Title: The name of governance proposal.
  • Description: A description of governance proposal.

Example:


_1
allianced tx gov submit-legacy-proposal create-alliance ibc/uluna 0.5 0.5 --from=demowallet1

Update an Alliance​

Updating an alliance uses the /alliance.alliance.MsgUpdateAllianceProposal type. This action has the same parameters as creating an Alliance. Note that an alliance can be updated only if the parameter denom matches a pre-existing Alliance.

Example:


_1
allianced tx gov submit-legacy-proposal update-alliance ibc/uluna 0.1 0.3 --from=demowallet1

Delete an Alliance​

Deleting an Alliance is of type /alliance.alliance.MsgDeleteAllianceProposal. An Alliance cannot be deleted if there are still coins delegated to that Alliance.

Before deleting an Alliance

The first step in deleting an Alliance is to update the Alliance asset's RewardWeight to 0. This will remove all voting power and rewards from the Alliance, effectively removing its influence in the chain.

Example:


_1
allianced tx gov submit-legacy-proposal delete-alliance ibc/uluna --from=demowallet1