Namasthe, we are starting a new year today. Wishing everyone a Happy and Prosperous new year on behalf of the community.
We wanted to make some changes to the voting pattern of the community adding some advantages to people who are holding IUC tokens. The voting is still going to be manual and we have a few community members doing manual curation. This new change is going to be an advantage for people who are getting votes from the community. The vote value can be enhanced if they hold IUC tokens or delegate HP to the community.
This article will provide complete details on how this happens. We have a facility inside our discord for curators to pick posts and give a vote weight. The curators will be able to give only a maximum of 80 percent vote weight to posts. The remaining 20 percent is where the calculation applies.
TL;DR
People who delegate 2000 HP would get a 10% extra vote
People who hold 200 IUC would get a 10% extra vote
Read further to know more details.
10 percent extra votes for delegators
The community account is relying on the delegation from the community members. We recently changed the curation reward share from Hive to IUC tokens to manage the liquidity issue we had. The curation reward share is now fixed at 10% APR which means they get more than 100% curation reward. In addition to this change, we wanted to add an extra parameter where the delegators also get some extra votes if they are manually selected for curation by the community curators.
People who delegate 2000 HP would get a full 10% extra vote. This also means that people who are delegating a minimum of 200 HP would get a 1% extra vote. The vote value will scale automatically based on the amount of HP delegated from 200 - 2000 HP. The maximum extra vote percentage is only 10% for this category even if someone is delegating more than 2000 HP. Anything less than 200 HP will not be eligible for the extra vote.
10 percent extra votes for holders
It would be nice to see many people holding IUC tokens. We are planning to introduce more and more sinks for IUC tokens. Right now we have a facility where people can sell their IUC tokens in the market if they don't want to hold them. We have been placing buy orders at 0.98 Hive per IUC and this maintains the price of IUC tokens at around 1 Hive. This can be considered more like a soft peg for IUC tokens. This happens once a week and we would continue to do this as long as there is enough liquidity in the market.
In order to benefit IUC holders, we wanted to introduce a scheme where people holding IUC tokens get 10% extra votes for holding. If anyone holding IUC is picked by our community curators manually for curation, they get a chance to get an extra 10% vote if they hold IUC tokens. People holding 200 IUC tokens would get a full 10% extra vote. If they hold 20 IUC tokens, they will get a 1% extra vote. Anything below 20 IUC tokens will not be eligible for additional votes.
The above 20% extra vote applies to all the posts that are selected for curation. For example, if a post is selected for a 5% vote by the curators and if they are eligible for a full 20% extra vote weight based on the above criteria. They would get a 25% vote.
Please Note: Delgating HP to the community and holding IUC tokens alone will not guarantee any votes. There are no changes to how currently the voting happens. The community will still continue to do manual curation. Thanks to all the manual curators of the community.
