Approval Voting

Each user can select (approve) any number of choices, each selected choice will receive equal voting power, i.e. if the user selects two choices, each choice will receive the total voting power of the user.

Let's look at the calculation in this example:

Let's consider there are 2 voters and their VP (voting power):

  • John has 10 VP

  • Mary has 5 VP

Suppose they cast their votes on a proposal featuring two choices, ARTICLE 1, ARTICLE 2, ARTICLE 3, and ARTICLE 4. Two of the choices has an associated incentive:

  • ARTICLE 1 has a 100 USDT incentive

  • ARTICLE 2 has a 60 USDT incentive

Here's where voters cast their votes:

  • John has 10 VP voted on options ARTICLE 1 and ARTICLE 2

  • Mary has 5 VP voted on option ARTICLE 1 only

When John votes on two options, his voting power isn't split evenly between them. Instead, with approval voting, the user can allocate full voting power to each option. In the example above, John cast 10 VP to ARTICLE 1 and another 10 VP to ARTICLE 2.

In summary, there is a cumulative voting power of 15 VP in favor of option ARTICLE 1, while there is a total of 10 VP in favor of option ARTICLE 2. Now, let's analyze the influence of their voting power on the choices by calculating the percentage.

  • John has 66.67% influence on option ARTICLE 1

  • Mary has 33.33% influence on option ARTICLE 1

Whereas on option ARTICLE 2,

  • John has 100% influence on option ARTICLE 2

The incentive amount assigned to a particular choice is distributed to voters in proportion to the percentage of their influence. Referencing the provided data, the following indicates the USDT incentives each voter will receive:

  • John will receive 66.67 USDT for option ARTICLE 1 and 60 USDT for option ARTICLE 2

  • Mary will receive 33.33 USDT for option ARTICLE 1

The calculation of rewards is determined by the number of voters in proportion to the voting power held by each participant. However, voting power may vary on the voting type used in a proposal. To know more about Approval Voting, check out Snapshot docs 👉 https://docs.snapshot.org/user-guides/proposals/voting-types#approval-voting

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