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.
