IOST Election Voting Guide — IOST Voting Portal is Officially Released!
Today, we have officially released the IOST voting portal which also marks the official launch of the IOST global Partnership Program.
We have redefined our blockchain node election to encourage as many people - from as many different backgrounds as possible - to join in and be a part of building the IOST ecosystem. As the first of its kind, this innovative ERC-20 election, which has zero technical barrier to entry and no upper limit to candidates, aims to bring in over 1000 partners from around the world to take part and contribute to IOST’s ecosystem and success.
The IOST Global Partner Program is an innovation in decentralized community development and governance. By incentivizing all participants including the community with high potential rewards, we encourage everyone to become contributors, defenders and stakeholders of the IOST ecosystem. Together, we will drive IOST ’s development and success!
The voting portal for the IOST Global Partner Program ERC-20 Election is now live and available for voting from the 15th Jan here: iost.biss.com
ERC-20 Election Voting — Benefits & Rewards
We hope all community members will exercise their voting rights to decide the future of the network and help drive IOST’s success and development.
IOST and Biss.com have jointly developed a zero-barrier, one-click voting portal for people to get involved in the voting process. To encourage voters, The IOST network incentivizes voting in the following ways:
Early Bird Voting Rewards: When you stake and vote in the ERC-20 election, you will receive an annualized 25% return on your token amount, based on the duration these tokens are staked. This will run until Mainnet launch.
Voting Dividends: Token holders who vote for partners / nodes that successfully reach the 2.1M token requirement during the election, will receive an on-going 50% share of that partners / nodes rewards. The annual reward pool is 840 Million IOST tokens (5 million USD).
Voter A stakes 1M IOST to Candidate B on Jan. 15th who then successfully secures 21M tokens (1% of the total votes) and contribution score 50% higher than average. Candidate B’s rewards will be 8,400,000 IOST in the first year.
For voter A, their rewards are:
- Voter A’s early voting rewards: Early voting will end on Mar. 10th when the automatic token Mainnet swap completes, and he/she will receive annualized interest of 36,301 IOST.
- Voter A’s Node reward share: = 1/21(node voting contribution) x 8,400,000 (nodes rewards) x 50% (voter’s share) =200,000 IOST
The voting portal is available in Chinese and English language. You can switch language in the upper right corner of the navigation bar.
1. Signup and Login
- Click “Signup” on the right of the navigation bar, enter your email address, set the password and enter the email verification code to complete registration.
- Click “log in” on the right of the navigation bar, enter your email address and password to log in.
- Please keep your password private and secure after registration.
2. Deposit IOST
- Click “My Account” on the left of the navigation bar to open your account page. Click to copy the address or scan the QR code to deposit IOST.
- Deposit tokens to the IOST address or transfer from your BISS account. Your tokens and rewards can be withdrawn from March 10th.
- Please read the page details carefully to avoid any losses incurred.
3. Vote for Candidates
- Click “Vote” on the left of the navigation bar to open the voting page. You will see information about the total voting bonus, your bonus and your available tokens for voting.
- On the list of all Candidates, you can see all who are eligible to be voted for. Candidates registration is still open and will be updated regularly. At the top right of the ranking, there is a search box and filter, which you can use to find specific candidates you are interested in.
- You can click the name of the Candidates to visit their listing page and learn more about them.
- Click“ Vote” to vote for the corresponding candidate you are interested in. 1 IOST = 1 vote, which can be used for one Candidate. Once tokens are voted, they are not allowed to be changed or revoked until the Mainnet launch.
After voting, you can share the poster and referral link to invite friends and earn extra rewards from BISS.
Automatic Mainnet Token Swap
ERC-20 tokens used for voting will be automatically swapped to Mainnet tokens on March 10th. After Mainnet launch, you can claim your assets and rewards which will be successfully credited to your account after a 7-day lock-up. The assets and rewards will then be allowed to be traded or transferred.
Early Voting Rewards Withdrawal
After voting with your ERC-20 IOST tokens, your early voting rewards will start to accumulate from 0:00 UTC the following day and will be released daily. For example, if Voter A casts a total of 1M IOST worth of votes at 15:00(UTC) on Jan. 15th, their rewards will start accumulating from 0:00(UTC) Jan 16th, and will be credited to their account at 0:00(UTC) on Jan.17th and every following 24 hours.
IOST Candidate applications will remain open. There is no deadline or upper limit to the number of Candidates and any person or team interested can join at any time. We hope more people interested in IOST could become Partners and participate in the IOST community governance and ecosystem building. Together, we can build an ecosystem where everyone is rewarded while building IOST’s future together.
Click here to apply for the IOST Global Partner Program!
IOST election voting will continue up until the switch to Mainnet voting on March 10th. We sincerely welcome you to join us and cast your votes. This is the time for you, the token holders, to help decide who will be a part of the IOST ecosystem.
Any questions or discussion, feel free to join the IOST telegram group and IOST official community where we will answer your questions.
Good luck and happy voting!