Voting Power

Overview

Voting Power is a loyalty bonus system that encompasses all users within the community who have interacted with the Iagon ecosystem and IAG token. This comprehensive system ensures a fair, transparent, and rewarding process for all participants while fortifying the longstanding objectives of Iagon.

Within this loyalty bonus system, our strategy aims to provide a comprehensive overview of a token holder's engagement with the Iagon ecosystem.

Within the Voting Power system, users have the opportunity to actively engage with Iagon and contribute to the direction of its growth and development. With this system, users can view both active and historical proposals, providing them insights into the past and on-going discussions and decision making of the protocol while empowering them to become familiar and assess the relevance of new proposals, before casting their vote. Additionally, leaderboards are leveraged to track proposal rankings to illustrate community decision making and provide further insights into the support of current proposals. Overall, the Voting Power system provides the features needed to empower users to take an active role in shaping the future direction of the Iagon ecosystem through a robust merit based system.

Goals

• Enhance Community Engagement, Transparency, and Collaboration: Foster active participation and collaboration within the Iagon ecosystem through the Voting Power loyalty bonus system, promoting transparency and fairness in decision-making. Provide users with a comprehensive overview of their engagement history and facilitate collaboration on proposals through features such as proposal lists, details, voting, and leaderboards.

• Merit Based Voting: Promote and reward participation in all facets of the Iagon ecosystem by adding voting weight to active contributions related to product use, liquidity providing, stake and token holdings with an emphasis on the longevity of each action.

• Reward and Incentivize Participation: Incentivize engagement and contributions in the Iagon ecosystem to encourage increased participation and customer loyalty.

• Ensure Security and Trust: Implement robust security measures to safeguard user identities, transactions, and voting actions.

Scope

• Proposals: Users can efficiently access a comprehensive list of ongoing and past proposals, along with detailed information, empowering them to review, analyze, and evaluate available proposals and previous decisions, fostering a state of transparency in the decision-making process. This feature enhances user decision-making capabilities and facilitates active participation in the voting process while improving engagement and trust within the community.

• Leaderboard: Users can seamlessly access the leaderboard feature, allowing them to monitor the performance and status of each proposal. By providing visibility into proposal rankings and relative performance, this feature facilitates informed decision-making and encourages active participation in the voting process. Additionally, the leaderboard fosters healthy competition and motivates users to contribute positively to the ecosystem.

• Wallet Login: Users are presented with a streamlined process to connect their wallets seamlessly within the application. This feature ensures the security of user identities and voting actions by allowing users to vote only after successfully connecting their integrated wallet. Non-connected users are prompted to connect their wallet before accessing any voting functionalities, ensuring secure authentication and participation in the voting process. Overall, this feature enhances user trust and confidence in the platform while simplifying the voting experience.

Features

• Proposal Accessibility: This feature focuses on enhancing user access to proposals by developing and implementing the Proposal List feature. Users will be able to view a comprehensive list of ongoing and past proposals, along with their details, facilitating informed decision-making and improving user engagement with the voting process.

• Proposal Insights: This feature centers around providing users with comprehensive insights into proposals through the development and implementation of the Proposal Details feature. Logged-in users will have access to in-depth information about both ongoing and past proposals, including past results, to support well-informed voting decisions and promote transparency in the decision-making process.

• Performance Monitoring: This feature focuses on developing and implementing the Leaderboard feature, enabling users to monitor the performance and status of each proposal. By providing visibility into proposal rankings and relative performance, this feature facilitates informed decision-making and encourages active participation in the voting process.

• Wallet Integration: This feature concentrates on streamlining the process for users to connect their wallets within the application through the development and implementation of the Connect Wallet feature. The objective is to ensure the security of user identities and voting actions, thereby enhancing trust and confidence in the voting platform.

Proposal Voting Process Flow

1. The user selects proposals from the dashboard.

2. Utilizing the selected proposal ID, the transaction building API generates a transaction with the client's corresponding score from the score table. (The decision of whether to build the transaction in the backend or frontend is yet to be determined.)

3. The user signs and submits the transaction to the blockchain, then sends the transaction hash to the voting API.

4. The Voting API service updates the user's votes with percentage and count in the vote table.

Metrics and Weightage

Metrics	Sub Metrics	Value Weight	Total Weight
Token holder
	Value	25.00%	35.00%
	Duration	10.00%
Farms/LPs
	Value	15.00%	25.00%
	Duration	10.00%
Delegator
	Value	10.00%	12.50%
	Duration	2.50%
Node Operator Stake
	Value	15.00%	20.00%
	Duration	5.0%
User Subscription Metrics
	Length	2.5%	7.50%
	Storage Used	2.5%
	Subscription amount	2.5%
Grand Total		100%	100%

The culmination of metrics, including Token Holder, Farms/LPs, Delegator, Node Operator Stake, and User Subscription Metrics, collectively represents a comprehensive evaluation framework within the IAGON ecosystem. Each metric, along with its respective sub-metrics and weights, contributes to a total of 100%, ensuring a holistic assessment of user engagement and contributions across various aspects of the platform. This structured approach enables a fair and balanced representation of users' activities, fostering transparency and accountability within the ecosystem.

Token Holder Metrics

In the context of the Token Holder metric, we have two sub-metrics: Value and Duration.

• Value: This sub-metric accounts for 25.00% of the total weight assigned to the Token Holder metric. It evaluates the value associated with the tokens held by users within the ecosystem.

• Duration: This sub-metric accounts for 10.00% of the total weight assigned to the Token Holder metric. It measures the duration for which users hold their tokens within the ecosystem.

Together, these sub-metrics contribute to the overall weight of 35.00% assigned to the Token Holder metric, providing insight into both the value and longevity of token holdings by users.

Farms/LPs Metrics

The Farms/LPs metric evaluates users' engagement in farming and liquidity pool activities within the ecosystem. It consists of two essential sub-metrics:

• Value: This sub-metric assesses the overall value contributed by users to farming and liquidity pools, accounting for 15% of the total weight.

• Duration: The duration sub-metric measures how long users have been actively participating in farming and liquidity pools activities, contributing 10% to the total weight.

In summary, Farms/LPs metrics provide insights into both the value and duration of users' engagement in farming and liquidity pools, collectively influencing 25.00% of the total weight assigned to this metric.

Delegator Metrics

The Delegator metric evaluates users' delegation activities within the ecosystem. It encompasses two key sub-metrics:

• Value: This sub-metric assesses the total value of delegations made by users, contributing 10% to the overall weight.

• Duration: The duration sub-metric measures the length of time users have been actively delegating their tokens, contributing 2.50% to the total weight.

In summary, the Delegator Metrics provide insights into the value and duration of users' delegation activities, collectively influencing 12.50% of the total weight assigned to this metric.

Node Operator Stake Metrics

The Node Operator Stake metric evaluates the staking activities of node operators within the ecosystem. It consists of two primary sub-metrics:

• Value: This sub-metric assesses the total value of IAG tokens staked by node operators, contributing 15.00% to the overall weight.

• Duration: The duration sub-metric measures the length of time node operators have been actively staking their tokens, contributing 5.00% to the total weight.

In summary, the Node Operator Stake Metrics provide insights into the value and duration of node operators' staking activities, collectively influencing 20.00% of the total weight assigned to this metric.

User Subscription Metrics

The User Subscription Metrics gauge users' subscription activities within the ecosystem. It incorporates three key sub-metrics:

• Length: This sub-metric evaluates the duration of users' subscriptions, contributing 2.50% to the total weight.

• Storage Used: The storage used sub-metric measures the amount of storage utilized by users, contributing 2.50% to the total weight.

• Subscription Amount: This sub-metric assesses the monetary value of users' subscriptions, contributing 2.50% to the total weight.

In summary, the User Subscription Metrics offer insights into the length, storage usage, and monetary value of users' subscriptions, collectively influencing 7.50% of the total weight assigned to this metric.

Calculations

Duration Metrics Calculations

Duration weights are calculated simply by using the ratio of the duration of the individual factor and total duration.

Example:
If user A held IAG for 30 epochs out of a total of 137 epochs, then the duration weight of the user would be approximately 21.89%.

Value Metrics Calculations

A logistic function for the S-shaped sigmoid curve is used to calculate the individual value weights.

note

K represents the increase constant. The actual value of k will be determined for each factor after a proper snapshot for each epoch is complete. We may also not base the average value to be exactly 50%, it may be higher or lower. Constant value and the mean value will be decided after all snapshots and can differ for all metrics, and the formula to be used for all is going to be the above function.

info

Currently, the 50% score in the Sigmoid Curve is assigned to 6-7% of the maximum numbers and the value of constant k is 0.5.

First example when k = 0.1

Example for token holders weight: Say the highest average tokens held per epoch is 1,000,000, and the average amount of tokens held per user per epoch is 50,000.

If we want to calculate our token holder weight, our average is 2,000 per epoch.

We first normalize the numbers to a maximum of 100:

• Highest: 100
• Average: 5
• My holdings: 0.2

My token holder score would be: 100/(1+e(-0.1*(0.2-5))) ~ 38.21%

If user A holds 200,000 tokens, his score would be: 100/(1+e(-0.1*(20-5))) ~ 81.66%

Second example when k = 0.4

In the same example as above, but with ( k = 0.4 ),

My token holder score would be: 100/(1+e(-0.4*(0.2-5))) ~ 12.82%

If user A holds 200,000 tokens, his score would be: 100/(1+e(-0.4*(20-5))) ~ 99.75%

Total Voting Score

note

Weighted Sum = (Metric₁ * Weight₁ + Metric₂ * Weight₂ + … Metric_n * Weight _n) / 100