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The Third Nebulas PoD mainnet governance cycle has begun!

Nebulas | 06.29| 9

On June 28th, the third PoD governance vote on the Nebulas Voyager mainnet will begin!

Voting Details

Voting time: Will will last between polling cycles 22528–23347. This will last approximately from June 28 18:35 — July 2 3:35am, 2020 (Beijing time UTC+8)

Voting address: https://node.nebulas.io/govern

The Nebulas community is welcome to view the node platform and review the governance committee nodes, proposals, projects and to keep up with the voting progress!

Voting participants: 49 governance nodes, which consists of many node operators such as the exchange gate.io, professional mining pools and private pools such as Allnodes, Everstake, InfStones, itokenpool, Lianke Community, MRH2, NAX.ONE, StackOfStake, $RICH, and many more.

Voting method: Selected nodes will vote via the Nebulas governance portal. All nodes have a governance address and from this address, they will cast one NAX towards each proposal based on their preferred opinion.

Notes

Starting from this vote, the support rate calculation will not count abstain votes:

Support rate = support vote / (support vote + oppose vote)

A support rate greater than or equal to 67% will be considered approved with a minimum of 26 nodes participating in the vote; at least 18 nodes are required to support the establishment of each proposal during voting.

Because abstentions are no longer included in the calculation of the support rate, so except Nebulas technical committee, the remaining eight Nebulas Foundation Nodes will all vote for abstain.

Proposals to be voted:

  • 12 proposals as of this announcement.

These proposals comprise all aspects of the Nebulas ecosystem. Such as:

You can view these and more proposals today and start learning about them on go.nebulas.io.

Governance incentives

The incentive for the first mainnet PoD governance vote has been sent. Since 100% of the 51 governance nodes participated, each node received 974.399501429 NAS.

Selected governance nodes need to vote on ALL proposals and projects to gain governance incentives. The incentive is based on the number of governance nodes in one governance cycle. If all governance nodes participate in the vote, each node will receive about 900 NAS in governance incentives.

If a consensus node becomes a governance node for two consecutive governance cycles without taking part in governance voting and voting for ALL proposals, the node will not be able to be selected as a governance node for 820 consensus polling cycles (approximately one month). Be sure to vote on ALL proposals to avoid governance penalties.

What is a PoD governance vote?

Within the Nebulas PoD ecosystem, every 820 polling cycles (approximately 1 month), a governance cycle is held. The top 51 nodes that produce the most blocks in a governance cycle will be selected as governance nodes and vote on projects listed on Go.nebulas that are not closed as well as projects entering the testing phase. All governance nodes need to vote within 120 polling cycles (approximately 5 days) once the cycle begins.

Benefits

Open transparency: PoD governance voting data is public with all the information available.

Joint Community Development: Supported by the Go.nebulas Foundation, the Technical Committee is responsible for code quality control and oversight while community members make their own proposals, community contributors (governance nodes) make decisions and community members can freely claim projects and implement them.

Learn about PoD governance mechanism at: https://nebulas.io/docs/PoDNodeStrategy.pdf

PoD governance vote history

Learn more about Nebulas:

Official website: Nebulas.io
Node Platform:
node.nebulas.io
Smart asset platform nextDAO:
nextDAO.io
Github:
github.com/nebulasio/go-nebulas
New Telegram(EN):
t.me/nebulasen
Telegram Node Operating Group:
t.me/nasnode
Community Forum:
community.nebulas.io
Twitter:
@nebulasio
Instagram:
nebulasio
Facebook:
@nebulasproject

The Third Nebulas PoD mainnet governance cycle has begun! was originally published in Nebulasio on Medium, where people are continuing the conversation by highlighting and responding to this story.

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