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Comprehensive Guide to IOST Voting Details and Rules
Everything You Need to Know About Eligibility, Weight Calculation, and Proposal Approval Criteria
Voting Period
Start Time: Fixed at January 5, 2025, 00:00:00 (UTC+8).
Duration: 7 days from the start time.
End Time: January 12, 2025, 23:59:59 (UTC+8).
Voting Eligibility
Eligibility to Participate (an address must meet at least one of the following conditions):
Holds at least 1,000 IOST tokens.
Staking (voting for a node) with a staked amount of at least 1,000 IOST.
Voting Restriction:
Each address can only vote once. After a vote is cast, it cannot be changed or revoked.
Initial Weight Calculation
Initial Weight (TIW): TIW = BW + (SW x 1.2)
BW: The amount of IOST held by the user at the time of voting.
SW: The amount of IOST staked (for node votes) by the user.
1.2: The staking weight coefficient.
Time Weight (TW)
Weighting Rule: After voting begins, linear weighting is applied, decreasing as the remaining days in the voting period decrease.
Weighting Formula: TW = 1 + (Remaining Days x 0.04286)
Maximum Weighting Ratio: 30%
Note : The factor 0.04286 corresponds to distributing a 30% maximum increase across the 7 days (0.30 / 7 ≈ 0.04286).
Final Weight Adjustment
Snapshot: At the start of voting (January 5, 2025, 00:00:00 UTC+8), record each voting address’s initial IOST balance (IBW) and initial staked amount (ISW).
Monitoring and Disqualification:
During the voting period, each address’s current IOST balance and staked amount are continuously monitored.
If any voting address’s current balance + current staked amount is less than 90% of its snapshot total $$(\text{IBW} + \text{ISW})$$, that address’s voting eligibility is immediately revoked.
Final Weight (FW) Calculation:
For addresses qualified: FW = ITW = (BW + (SW x 1.2)) x TW
For addresses disqualified, the final weight (FW) is 0.
Maximum Weight Limit
Limit Setting: The maximum voting weight for a single address is capped at 2% of the total voting weight.
Total Voting Weight: Calculated at the end of the voting period, as the sum of the final weights (FW) of all voting addresses.
Applying the Limit: If any address’s final weight exceeds this 2% cap, its weight is reduced to that cap.
Definition of Proposal Approval
Voting Options:
There are only two options:
APPROVE: Indicates approval of the proposal.
REJECT: Indicates disapproval of the proposal.
Voting Result Calculation:
After voting ends, calculate:
TotalSupportWeight: The sum of final weights (FW) of all addresses that voted “APPROVE”.
TotalAgainstWeight: The sum of final weights (FW) of all addresses that voted “REJECT”.
Approval Rate:
(Expressed as a percentage; for example, 50%.) Proposal Passing Conditions:
A proposal is approved if its Approval Rate exceeds 50%.
Comprehensive Guide to IOST Voting Details and Rules was originally published in IOST on Medium, where people are continuing the conversation by highlighting and responding to this story.
Voting Period
Start Time: Fixed at January 5, 2025, 00:00:00 (UTC+8).
Duration: 7 days from the start time.
End Time: January 12, 2025, 23:59:59 (UTC+8).
Voting Eligibility
Eligibility to Participate (an address must meet at least one of the following conditions):
Holds at least 1,000 IOST tokens.
Staking (voting for a node) with a staked amount of at least 1,000 IOST.
Voting Restriction:
Each address can only vote once. After a vote is cast, it cannot be changed or revoked.
Initial Weight Calculation
Initial Weight (TIW): TIW = BW + (SW x 1.2)
BW: The amount of IOST held by the user at the time of voting.
SW: The amount of IOST staked (for node votes) by the user.
1.2: The staking weight coefficient.
Time Weight (TW)
Weighting Rule: After voting begins, linear weighting is applied, decreasing as the remaining days in the voting period decrease.
Weighting Formula: TW = 1 + (Remaining Days x 0.04286)
Maximum Weighting Ratio: 30%
Note : The factor 0.04286 corresponds to distributing a 30% maximum increase across the 7 days (0.30 / 7 ≈ 0.04286).
Final Weight Adjustment
Snapshot: At the start of voting (January 5, 2025, 00:00:00 UTC+8), record each voting address’s initial IOST balance (IBW) and initial staked amount (ISW).
Monitoring and Disqualification:
During the voting period, each address’s current IOST balance and staked amount are continuously monitored.
If any voting address’s current balance + current staked amount is less than 90% of its snapshot total $$(\text{IBW} + \text{ISW})$$, that address’s voting eligibility is immediately revoked.
Final Weight (FW) Calculation:
For addresses qualified: FW = ITW = (BW + (SW x 1.2)) x TW
For addresses disqualified, the final weight (FW) is 0.
Maximum Weight Limit
Limit Setting: The maximum voting weight for a single address is capped at 2% of the total voting weight.
Total Voting Weight: Calculated at the end of the voting period, as the sum of the final weights (FW) of all voting addresses.
Applying the Limit: If any address’s final weight exceeds this 2% cap, its weight is reduced to that cap.
Definition of Proposal Approval
Voting Options:
There are only two options:
APPROVE: Indicates approval of the proposal.
REJECT: Indicates disapproval of the proposal.
Voting Result Calculation:
After voting ends, calculate:
TotalSupportWeight: The sum of final weights (FW) of all addresses that voted “APPROVE”.
TotalAgainstWeight: The sum of final weights (FW) of all addresses that voted “REJECT”.
Approval Rate:
(Expressed as a percentage; for example, 50%.) Proposal Passing Conditions:
A proposal is approved if its Approval Rate exceeds 50%.
Comprehensive Guide to IOST Voting Details and Rules was originally published in IOST on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.