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voting_system_overview [03/11/2022 17:27] gfactorvoting_system_overview [03/11/2022 17:57] gfactor
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 The Founder accounts will have a different weighted vote that is based on their blocks minted count PLUS level 10 blocks minted count. What we mean by this, as seen on the [[Leveling System]] wiki page, for an account to reach level 10 requires 4,074,400 total blocks minted. So Founder accounts will have a weighted vote of 4,074,400 PLUS their actual blocks minted count. For a simple example, if a Founder has 100 blocks minted, the account would have a weighted influence of: 4,074,400 + 100 = 4,074,500 The Founder accounts will have a different weighted vote that is based on their blocks minted count PLUS level 10 blocks minted count. What we mean by this, as seen on the [[Leveling System]] wiki page, for an account to reach level 10 requires 4,074,400 total blocks minted. So Founder accounts will have a weighted vote of 4,074,400 PLUS their actual blocks minted count. For a simple example, if a Founder has 100 blocks minted, the account would have a weighted influence of: 4,074,400 + 100 = 4,074,500
  
-When the first Founder reaches level 10, Founders will no longer have the boosted weighted vote as explained in the previous paragraph. Founders will then only have a weighted vote based on actual blocks minted. Also, those who were given pre-enabled levels as “QORA Forgers” will be given a 'blocksMintedPenalty' equal to the number of blocks they were credited with at Genesis. This will remove that number of blocks from their total minted blocks. This will not only affect their voting weight but also their minting reward blocks minted account, as blocks minted is an across the board credit. This also means that if they have NOT minted by the time the first Founder hits level 10, they could be sent back to level 0. (7 years should be plenty of time for them to have paid enough attention to start minting, and if they haven't by then, that's their choice. They were given ample time to take advantage of the opportunity given). Yes, this does mean QORA Forgers will lose blocks minted, and could affect their level if they are on the cusp of reaching or had just reached a level. Refer to the Leveling System page to see how blocks minted credit for levels 1-5 will not have too much of an impact on the QORA Forgers who will have high leveled accounts at the time of the ‘blocksMintedPenalty’.+When the first Founder reaches level 10, Founders will no longer have the boosted weighted vote as explained in the previous paragraph. Founders will then only have a weighted vote based on actual blocks minted. Also, those who were given pre-enabled levels as “QORA Forgers” will be given a 'blocksMintedPenalty' equal to the number of blocks they were credited with at Genesis. This will remove that number of blocks from their total minted blocks. This will not only affect their voting weight but also their minting reward blocks minted account, as blocks minted is an across the board credit. This also means that if they have NOT minted by the time the first Founder hits level 10, they could be sent back to level 0. (7 years should be plenty of time for them to have paid enough attention to start minting, and if they haven't by then, that's their choice. They were given ample time to take advantage of the opportunity given). Yes, this does mean QORA Forgers will lose blocks minted, and could affect their level if they are on the cusp of reaching or had just reached a level. Refer to the [[Leveling System]] page to see how blocks minted credit for levels 1-5 will not have too much of an impact on the QORA Forgers who will have high leveled accounts at the time of the ‘blocksMintedPenalty’.
  
 This penalty (just a technical term) is simply to be sure the voting system is fair for everyone who actually started at 0 blocksMinted at Genesis, including but not limited to the Founders. Therefore this is simply an effort to 'level the playing field' for those who did NOT have pre-enabled blocks minted. The Founders have level 10 + blocks minted, until the first Founders actually reaches level 10, then they are actual blocks minted like everyone else. At the same time, those who were given pre-enabled levels get the penalty for however many blocks they were credited with at Genesis. This structure will incentivize users to keep their existing account minting, opposed to if we kept the previous concept where everyone would max out at level 10 and incentivize users to begin a second account. This is the latest concept for building a fair system of egalitarianism. Subject to further modification. This penalty (just a technical term) is simply to be sure the voting system is fair for everyone who actually started at 0 blocksMinted at Genesis, including but not limited to the Founders. Therefore this is simply an effort to 'level the playing field' for those who did NOT have pre-enabled blocks minted. The Founders have level 10 + blocks minted, until the first Founders actually reaches level 10, then they are actual blocks minted like everyone else. At the same time, those who were given pre-enabled levels get the penalty for however many blocks they were credited with at Genesis. This structure will incentivize users to keep their existing account minting, opposed to if we kept the previous concept where everyone would max out at level 10 and incentivize users to begin a second account. This is the latest concept for building a fair system of egalitarianism. Subject to further modification.
voting_system_overview.txt · Last modified: 04/29/2023 18:35 by gfactor