1. Voting period:

  • Start time: Fixed at January 5, 2025, 00:00:00 UTC+8.

  • Duration: From the start time, lasting for 7 days.

  • End time: January 12, 2025, 00:00:00 UTC+8.

2. Voting eligibility:

  • Participation eligibility (addresses that meet one of the following conditions):

* Hold #IOST tokens, with a holding amount of no less than 1000 IOST.

* Vote for nodes (Staking) with a stake of no less than 1000 IOST.

  • Voting restriction: Each address can only vote once, and votes cannot be modified or revoked after voting.

3. Initial weight calculation:

  • Initial Weight (TIW):

* Total initial weight (TIW) = Holdings (BW) + (Staking amount (SW) * 1.2)

* Among them:

* Holdings (BW): The amount of IOST the user holds during voting.

* Staking amount (SW): The amount of IOST staked by the user in the node.

  • 1.2: Staking weight coefficient.

4. Time-weighted (TW):

  • Weighting rules: After voting starts, linear weighting is used, and weights decrease as the remaining days decrease.

  • Weighting formula: TW = 1 + (remaining days * 0.04286)

  • Maximum weighting ratio: 30%

Note: Here, 0.04286 is the daily growth factor derived from evenly distributing 30% of the maximum weight over 7 days (0.30 / 7 ≈ 0.04286).

5. Final weight adjustment:

  • Snapshot: At the start of voting (January 5, 2025, 00:00:00 UTC+8), record each voting address's initial IOST holdings (IBW) and initial staking amount (ISW).

  • Check and disqualification during voting period:

* During the voting period, continuously monitor each voting address's IOST holdings and staking amounts.

* If any voting address's (current holding + current staking) < (IBW + ISW) * 0.9, then that address's voting eligibility will be directly revoked.

  • Final Weight (FW) calculation:

* For addresses that have not been disqualified from voting:

* Final weight (FW) = Weight after initial time weighting (ITW) = (Holdings (BW) + (Staking amount (SW) * 1.2)) * TW

* For addresses that have been disqualified from voting, their final weight (FW) is 0.

6. Maximum weight limit:

  • Limit setting: The maximum voting weight for a single address is 2% of the total voting weight.

  • Total voting weight: Calculated after the voting ends, the sum of the final weights of all voting addresses.

  • Limit application: If an address's final weight exceeds the limit, its weight will be adjusted to the limit value.

7. Definition of whether the proposal passes:

Voting options:

  • Only two voting options are provided:

* Support: Indicates agreement with the proposal.

* Against: Indicates disagreement with the proposal.

Voting result statistics:

  • After voting ends, calculate respectively:

* Total weight of supporting votes (TotalSupportWeight): The sum of the final weights of all addresses that voted in support.

* Total weight of opposing votes (TotalAgainstWeight): The sum of the final weights of all addresses that voted against.

Pass rate calculation:

  • Pass rate (ApprovalRate): Calculated using the following formula:

// The pass rate is expressed as a percentage, for example: 50%
ApprovalRate = TotalSupportWeight / (TotalSupportWeight + TotalAgainstWeight)

Proposal approval conditions:

  • If the pass rate (Approval Rate) of the proposal is greater than 50% and the number of participants in the vote is greater than 1000, then the proposal will be approved.

Introduction to IOST

IOST was founded in 2017 and is headquartered in Singapore, supported by top global investment institutions like Sequoia, Matrix, and ZhenFund.

IOST 3.0 is a BNB Chain Layer2 solution focused on Real World Assets (RWA), aimed at bringing institutional-grade financial infrastructure into the Web3 space, building a bridge between traditional finance (TradFi) and decentralized finance (DeFi).

Through RWA tokenization, liquidity engines, and PayFi solutions, IOST 3.0 will provide enterprise-level on-chain payment and asset management services, enhancing asset liquidity, transparency, and trading efficiency, and driving blockchain financial innovation.

Official website: iost.io

Block Explorer: iostscan.com

Link3: link3.to/iost

Zendesk: iost.zendesk.com

IOST Chinese Community X: x.com/IOST_CN

IOST Chinese Community Telegram: t.me/IOSTChina

IOST Chinese Community Medium: medium.com/iost-cn

IOST Brand Restructuring | Voting Governance was originally published in IOST_CN on Medium, where people are continuing the conversation by highlighting and responding to this story.