Incentivized Consensus
Farming governance one decision at a time

Voting Power

Voting Power refers to the voting weight of a user, which is usually associated with the number of tokens held for a given proposal. Depending on the voting algorithm, the voting power can vary.

Incentivization

Votility is a framework that facilitates incentivized consensus.
Protocol Owners
With Votility, owners are able to create voting pools to foster incentivized governance decisions. The owner simply needs to create a voting proposal and stake VOTY tokens into the factory contract. These VOTY tokens correspond to the proportion of the total rewards that will be won by the users that interact with this specific proposal. In other words, by staking VOTY, a voting pool creator is defining the allocation point (pondered rewards weight) of that pool relative to all the other pools eligible to earn rewards.
Users
Whenever a user interacts with a proposition and generates voting power, this user is setting his or her own allocation point regarding all the rewards destined to that voting pool. A user with a higher voting power will receive a proportional higher reward in VOTY during the election period.
Rewards
The rewards come in the form of VOTY tokens. Initially, the rewards will come from Staking Rewards which represents 5% of the total token supply. Further incentivization will be maintained by an interest-bearing mechanic of VOTY acquisition and distribution.
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Last modified 2mo ago