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To participate in Governance users need votes, represented by non-transferable xWOW tokens, which users get in exchange of staking WOW tokens and/or Pancakeswap LP tokens (WOW/BNB and WOW/BUSD) in the Governance smart contract.
xWOW token is used for voting and Governance reward distribution. Governance rewards are distributed proportionally among all xWOW holders. Staking by itself is sufficient to get Governance rewards, no actual voting is required.
xWOW Staking APY on https://wowswap.io/governance-your-wallet
The number of xWOW tokens received for staking Pancakeswap LP tokens in 1.5 times higher than for staking WOW tokens, because obtaining LP tokens requires 2 times more liquidity (WOW + BNB or WOW + BUSD).
Also, the number of xWOW tokens depends on the length of the staking period, during which the tokens will remained locked: the longer the period, the more xWOW are issued for the same number of WOW / LP tokens. For example, if a User A chooses to stake WOW for a maximum period of 730 days, the User A will get 10 times more xWOW tokens than a User B who decides to stake WOW tokens for a minimal period of 14 days.
If a user stakes a certain number of WOW tokens for a short period of time and then stakes another number of WOW tokens for a longer period of time, then the first staked tokens are automatically re-staked for a longer period of time. Once staked, the tokens are locked and it is not possible to re-stake the tokens for a shorter period of time or withdraw them before the staking period ends