This article was first published on Stories by IOS Foundation on Medium
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Voting Competition — Daily Reward pool of millions of IOST for Voters.
Starting 2nd Feb and for the next 10 days, BISS in co-operation with IOST will be running a voting competition for the IOST partner election with big rewards to lucky voters.
Head over to the Election Portal to get involved!
Competition Mechanics
Each day during the event, Candidates will be ranked by their total number of votes received for that specific day.
People that vote for 1 of the top 3 ranking Candidates for that day will receive bonus IOST from the daily reward pool.
Each day’s reward pool is equal to 5% of total votes cast to any of the Candidates that day and split between the 1st, 2nd and 3rd ranking nodes in proportions 50%, 30%, 20% respectively.
E.g if 100M IOST votes are cast on day 1, the day 1 reward pool is a total of 5M (5%), with 2.5M reward pool for the 1st ranking Candidate, 1.5M for the 2nd ranking Candidate and 1M for the 3rd ranking Candidate. If you vote for any of these 3 Candidates that day, you will revive a share of each of the Candidates reward pools you voted for.
You reward is based on the share of your votes for that Candidate (Your votes for that candidate/ Total votes for Candidate).
- If the Candidate you vote for ranks 1st, you receive a share of 50% of the reward pool
- If the Candidate you vote for ranks 2nd, you receive a share of 30% of the reward pool
- If the Candidate you vote for ranks 3rd, you receive a share of 20% of the reward pool
Example:
Assume the total number of votes on the day are 100 million IOST, the reward pool will then be 5% = 5 million IOST for that day. The 1st ...
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Stories by IOS Foundation on Medium
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