Community SIP Vote Live: Improved Multisig Transactions
July 23, 2024
Update: Community voting for SIP-027 is live now!
During Stacking Cycle 90, which starts on approximately August 2nd, community voting will commence for an important Stacks Improvement Proposal (SIP). By voting, you're directly influencing the direction of key technological advancements and protocol improvements for the leading Bitcoin L2.
This post will:
For the SIP to go live on the network, more than 80% of votes cast must represent a ‘Yes’ vote and represent a minimum of at least 80 million Stacked STX.
During Stacking Cycle 90, which starts on approximately August 2nd, community voting will commence for an important Stacks Improvement Proposal (SIP). By voting, you're directly influencing the direction of key technological advancements and protocol improvements for the leading Bitcoin L2.
This post will:
- Resurface key SIP details
- Provide links to additional related SIP resources
- Highlight reviews and commentary from key contributors
- Provide instructions on how to vote
For the SIP to go live on the network, more than 80% of votes cast must represent a ‘Yes’ vote and represent a minimum of at least 80 million Stacked STX.
SIP Overview
SIP-027: Non-sequential Multisig Transactions
The Non-sequential Multisig Transactions SIP proposes a new, more user-friendly multisig transaction format to co-exist with the current format described in SIP-005. It aims to remove the fixed signer order requirement, simplifying the signing process without compromising security or increasing transaction size. This will enhance wallet support for Stacks multisig transactions.
The Non-sequential Multisig Transactions SIP proposes a new, more user-friendly multisig transaction format to co-exist with the current format described in SIP-005. It aims to remove the fixed signer order requirement, simplifying the signing process without compromising security or increasing transaction size. This will enhance wallet support for Stacks multisig transactions.
- For SIP details, please read the SIP Pull Request.
- To vote for Non-sequential Multisig Transactions SIP
How to Vote on SIP-027
This includes both Solo Stackers and Community Pool Stackers.
[Web Wallet]
[Web Wallet]
- Go to https://stx.eco and scroll to the proposal you want to vote on
- Click ‘Voting for Stackers’
- Launch the bitcoin wallet used to receive Stacking rewards. Click ‘Connect wallet’ at the top of the page to connect your wallet (if you use Leather or Xverse wallet)
- Choose the account that is being used for stacking
- Vote ‘Yes’ or ‘No’. Click the option that you prefer
- A window should pop up asking you to confirm your transaction. Click ‘Confirm’ to complete your vote
- Go to https://stx.eco and scroll to the proposal you want to vote on
- Click ‘Voting for Stackers’
- Launch the desktop wallet used to participate in Stacking
- To vote ‘Yes’, send 1 uSTX (0.000001 STX) to the STX address provided on the page (make sure it is sent from your Stacking address!)
- To vote ‘No’, send 1 uSTX (0.000001 STX) to the STX address provided on the page
- Double-check that you are sending this transaction from your Stacking address, to the correct ‘Yes’ or ‘No’ address, and sign your transaction
- To vote ‘Yes”, send 6,000 sats (0.00006 BTC) to the BTC address provided on the page (make sure it is sent from your rewards address!)
- To vote ‘No’, send 6,000 sats (0.00006 BTC) to the BTC address provided on the page
- Double check that you are sending this transaction from your Stacking rewards address, to the correct ‘Yes’ or ‘No’ address, and sign your transaction.
- Go to https://stx.eco and scroll to the proposal you want to vote on
- Click ‘Voting for Non-Stackers’
- Click ‘Connect wallet’ in the top right corner to connect your web wallet (must be a Leather or Xverse wallet)
- Select the any account with at least 1 liquid STX. It is recommended that you choose the account with the largest STX balance since that will give you more “voting power” or a stronger vote. (The maximum voting power you can set is the Stacking minimum minus 1 STX.)
- In the voting power box, enter the amount of STX you want to use to represent your vote (remember that no STX are spent by voting but you will pay a minimal gas fee)
- Below the voting power box, click ‘Yes’ or ‘No’, depending on your preference
- A window should pop up asking you to confirm your transaction. Click ‘Confirm’ to complete your vote
Voting opens ~August 2nd
As we look ahead, your participation in this process is more important than ever. Voting for the Non-sequential Multisig Transactions SIP is set to begin ~August 2nd (cycle 90) and we encourage all community members to make their voices heard.
In the coming weeks, the community can also expect voting to open on SIP-028, or sBTC Bootstrap. As this SIP is being finalized, you can learn more about it below.
Don't miss this opportunity to shape the future of Stacks!
In the coming weeks, the community can also expect voting to open on SIP-028, or sBTC Bootstrap. As this SIP is being finalized, you can learn more about it below.
- Overview of the Bootstrap Phase courtesy of the sBTC Resident
- For SIP details, please read the SIP Pull Request.
Don't miss this opportunity to shape the future of Stacks!