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Governance can add or remove a leader through the fluid leadership election process.
A new candidate can be submitted by paying a candidate fee. This fee is to prevent spam.
When a user votes they can decide what percentage of their staked token is allocated to each potential candidate, much like they would choose which validators to stake with. After voting, delegators can decide to change their vote preference by starting the process again.
A webpage will exist showing a list of all candidates which will be ranked via current voter percentage. The current leader will be at the top of the page.
If any candidate reaches 66.7%, they become the new leader, assuming the current leader does not have a higher percentage. Going forward, other candidates will need to reach a higher vote to supersede the previous leader, with a minimum of 66.7%.
Once every year, the vote amount for candidates is reset to 0. This is to ensure dead accounts that have voted previously don't stay active forever. This time period can be configured via governance.
This process is planned to become active 6 months after chain genesis, this is to ensure stability in the post genesis period.
The text was updated successfully, but these errors were encountered:
Governance can add or remove a leader through the fluid leadership election process.
A new candidate can be submitted by paying a candidate fee. This fee is to prevent spam.
When a user votes they can decide what percentage of their staked token is allocated to each potential candidate, much like they would choose which validators to stake with. After voting, delegators can decide to change their vote preference by starting the process again.
A webpage will exist showing a list of all candidates which will be ranked via current voter percentage. The current leader will be at the top of the page.
If any candidate reaches 66.7%, they become the new leader, assuming the current leader does not have a higher percentage. Going forward, other candidates will need to reach a higher vote to supersede the previous leader, with a minimum of 66.7%.
Once every year, the vote amount for candidates is reset to 0. This is to ensure dead accounts that have voted previously don't stay active forever. This time period can be configured via governance.
This process is planned to become active 6 months after chain genesis, this is to ensure stability in the post genesis period.
The text was updated successfully, but these errors were encountered: