The new era of Equilibrium EOSDT proxy voting begins today!

November 02, 2019
The new era of Equilibrium EOSDT proxy voting begins today!

Equilibrium Labs CEO Alex Melhikov presented important changes to the Equilibrium EOSDT proxy voting rules in his last podcast.

As of today, user can vote for 3 block producers by staking NUT and 20 winners will be chosen in real-time. The Equilibrium EOSDT proxy is staking EOS collateral underlying the current EOSDT supply for up to 20 block producer (BP) candidates which got most NUT from users. The next stage will see the proxy votes for 30 BPs. Check it on https://voting.eosdt.com/

We also announced another strong measure to incentivize community members to vote: a new rewards system around the Proxy Election, for the sole benefit of the community. BP candidates compete for the community’s votes by pledging a daily reward paid in EOS. 70% of rewards from applied BPs will be distributed to collateral holders and 30% to NUT holders who stake NUT to the EOSDT governance contract respectively.

For example:

given 1 BP registered and agreed to pay 10 EOS per day in rewards. After 1 day 7 EOS will go to position holders and everyone's collateral there and 3 EOS will go to liquidator where it may be bought for NUT with discount. That NUT will be partially burned (30%) and partially (70%) returned back to governance contract and distributed among voters there.

The Equilibrium framework is community-driven — if you’re an active user, take a moment to get this much more acquainted with us. We will tell more about the mechanisms behind the new voting system in the upcoming articles, so stay tuned!


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