Freewallet.io User Manual
Freewallet.io User Manual
  • Getting Started
    • What is Freewallet?
    • What are the features of Freewallet?
    • Where can I access Freewallet?
    • Where can I access previous versions of Freewallet?
    • What is Tokenscan.io?
    • Why do I need small amounts of Bitcoin to do things in Freewallet?
    • What BTC fee should I use?
    • What is the Automatic Donation System? How do I turn it off?
    • What is an Asset/Token/NFT? How can I store them?
    • I want to trade a certain Asset, is it legitimate?
    • How to find the License Agreement
    • What else do I need to know?
  • Exploring Balances, History, Exchange and Dispensers
    • Address Balances
    • Address History
    • Viewing Tokens
    • Exploring Token Information and Enhanced Asset Information
    • Understanding Dispenser Markets
    • Buying XCP and User Created Tokens from a Dispenser
    • The Decentralized Counterparty Exchange (DEx)
    • Understanding Exchange Pairs
    • Buying and Selling XCP and Tokens on the DEx
    • Understanding BTCpay and BTC/TOKEN on the DEx
  • Freewallet Functions
    • Creating a Wallet
    • Locking and Unlocking Your Freewallet
    • Viewing, Creating and Importing Addresses
    • Show a QR Code for your Address
    • Sending and Receiving BTC
    • Sending / Receiving XCP and User Created Tokens
    • Displaying the Seed Phrase and Private Key of your Address(s)
    • Using the Multi Send function
    • Create a Counterparty Token (NFTs and FTs)
    • How to Change Token Properties
    • Changing the Token Description
    • Issuing more Token Units
    • Resetting Your Token Issuance
    • Locking Your Token Issuance
    • Transfer Token Ownership
    • Destroying Tokens
    • Paying Dividends to Token Holders
    • Voting with Tokens
    • Broadcast information on the Bitcoin blockchain
    • Signing a Message Using Freewallet
    • Signing a Transaction Using Freewallet
    • Using the Sweep Function
    • Setting up a Dispenser
    • Closing a Dispenser
    • Cancelling Exchange Orders
    • Starting an Exchange Pair that has no orders up yet on the DEx
    • Minting Open Fairmints
  • Common Questions Using Freewallet (FAQ)
    • What if you make a mistake?
    • Where can I see my current version?
    • How do I check my Freewallet Server settings?
    • How do I use the Debug function on Freewallet?
    • Can I use the Counterparty/Bitcoin Testnet in Freewallet?
    • Can I burn BTC for XCP?
    • What’s a Stamp?
    • What’s an Ordinal?
    • If Tokenscan is down for maintenance, can I still access my funds?
    • Why is there more than one input on my BTC transactions?
    • Does Freewallet support two-factor authentication?
    • Can you lock a Token description?
    • Can I run my own Counterparty server?
    • How do I use Freewallet to mint an Emblem Curated Vault?
    • How do you create a Burn Address for use on Counterparty?
  • Troubleshooting / Issues
    • I sent BTC (or a Token) to Freewallet, why doesn't it show up?
    • Why can't I see my assets I own or created with 0 issuance?
    • "Error While Trying to Broadcast Transaction"
    • "Failure to send not enough BTC in wallet"
    • My Freewallet Exchange/Dispenser tab is resetting the data when I try to sort by BTC Price?
    • "Public key was neither provided nor published in blockchain."
    • I logged in and see none of my assets but I see them on tokenscan!
    • Help! I used too small of a fee and my transaction is not confirming!
    • I sent/dispensed an XCP asset to a Wrapped Segwit Address (address beginning with "3")
    • I sent/dispensed an XCP asset to a Taproot Address (an address that starts with "bc1p")
    • I updated Freewallet and can only see my first 20 addresses! How can I get them back?
    • My second transaction on an MPMA (Multi-send) is not getting confirmed and giving me an error
    • Freewallet gave me a TX link but Tokenscan says "Transaction not found on tokenscan"
    • Error composing dividend transaction via API: ['zero dividend']
    • My MacOS/Windows is saying Freewallet is not verified by the app store. What should I do?
    • Counterparty API Communication Error!
    • What is a Counterparty API Error?
    • Stuck on "Checking Data Encoding Fees"
    • Constructed transaction does not parse correctly
    • My transaction is too low of an "Effective Fee Rate"
    • Error Composing Dispenser TX - Balance History
    • I entered my created password and stuck on "You will need to unlock..."
  • Getting Support
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  1. Freewallet Functions

Voting with Tokens

PreviousPaying Dividends to Token HoldersNextBroadcast information on the Bitcoin blockchain

Last updated 6 months ago

Counterparty supports voting through actions taken with user-created tokens, as well as broadcasting information onto the Bitcoin blockchain. This means that you can post the terms and options of your vote as a broadcast, and let users vote on its outcome with full transparency by using tokens.

This Dividends distribution process was described in the section.

This function has been used successfully in the past, but is less commonly used due to the Bitcoin fees that occur when inviting token holders to vote.

Let explain his process with an example, using a made up token called "EXAMPLE"

  • You create a token named ‘EXAMPLE’

  • You distribute the EXAMPLE token to various users (the more tokens they have the more votes they will receive)

  • You can create another token named EXAMPLEVOTE and of exactly 1 EXAMPLEVOTE to all holders of EXAMPLE in one single action.

  • Now all holders of the EXAMPLE token now have 1 vote per EXAMPLE token they hold which is represented by the EXAMPLEVOTE token.

  • From the same address you minted the EXAMPLE token you publish a that explains the terms and options of voting with EXAMPLEVOTE. For this example, the instructions include sending a certain amount of EXAMPLEVOTE to a specific Bitcoin Address.

  • Within that Broadcast you explain that sending EXAMPLEVOTE to a specific "Bitcoin Address #1" counts as a YES vote, and sending to another specific "Bitcoin Address #2" counts as a NO vote.

  • To cast their votes, holders of EXAMPLE can then send the EXAMPLEVOTE they have received to whichever choice they agree with.

  • The results of the poll will be public and verifiable thanks to the Bitcoin blockchain and will simply be recorded as token sends of EXAMPLEVOTE.

Since you can create whatever rules you would like with a public Counterparty Broadcast transaction that publicly shows the 'choices' or different Bitcoin Addresses to send to for voting, this feature can be used for many purposes.

It may be a good idea to create burn addresses for this purpose (addresses where the private key is not known). This way, the votes cannot be recycled or moved. For more information about creating a “burn address” see below on the topic

Paying Dividents to Token Holders
pay a distribution
Counterparty Broadcast
How do I create a Burn Address for use on Counterparty?