Basic Voting
Each user can select one of three options: For
, Against
, Abstain
. The votes cast on the Abstain
choice are counted in calculating if the necessary quorum has been reached for a proposal to pass.
Let's look at the calculation in this example:
Let's consider there are 5 voters and their VP (voting power):
John has 10 VP
Mary has 5 VP
Dave has 8 VP
Andrew has 15 VP
Tony has 3 VP
Suppose they cast their votes on a proposal featuring four choices, For
, Against
, and Abstain
. Each of the choices has an associated incentive:
For
has a 100 USDT incentiveAgainst
has a 60 USDT incentiveAbstain
has a 20 USDT incentive
Here's where voters cast their votes:
John has 10 VP voted on the option
For
Mary has 5 VP voted on the option
Against
Dave has 8 VP voted on the option
Abstain
Andrew has 15 VP voted on the option
For
Tony has 3 VP voted on the option
Against
In short, there's a combined voting power of 25 VP supporting the For
option, while a total of 8 VP back the Against
option. Additionally, there are 8 VP placed on the Abstain
option. Let's now assess their impact on the choices by calculating the percentages.
John has 40.00% influence on option
For
Andrew has 60.00% influence on option
For
Whereas on option Against
,
Mary has 62.50% influence on option
Against
Tony has 37.50% influence on option
Against
Lastly, on option Abstain
Dave has 100% influence on option
Abstain
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 40 USDT
Andrew will receive 60 USDT
Mary will receive 37.5 USDT
Tony will receive 22.5 USDT
Tony will receive 20 USDT
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 Basic Voting, check out Snapshot docs 👉 https://docs.snapshot.org/user-guides/proposals/voting-types#basic-voting
Last updated