Cocos-BCX MainNet Node Election Voting Guide

Voting is an important self-governance mechanism in the Cocos-BCX ecosystem. Users who hold MainNet COCOS in circulation have right to vote. There are two voting platforms available to voters and here are the voting guides for you.

PC User Guide: How to Vote on Explorer and the Voting Website?

Method No.1

1. Enter CocosTerminal and import the COCOS MainNet account.

2. Click the “vote” button

3. After clicking the “vote” button, check the checkbox of nodes you are going to vote on the right side, fill out the number of votes and click “save”.

Method No.2

1. Log into the Cocospay wallet plug-in

Firstly, log into the Cocospay wallet plugin. The Cocospay wallet plugin can be downloaded and installed through Google Chrome, Firefox, and 360 browsers. After installation, import the COCOS MainNet account.

Three Ways to Install Cocospay

2. Enter the Cocos-BCX voting website

Secondly, open the Cocos-BCX voting website(https://vote.cocosbcx.net/) in the browser with the Cocospay wallet plugin. Whenever performing voting operations with any devices always make sure that you are using the right website.

You can view the name of each node and council, vote rate, number of voting accounts, number of produced blocks, and pending rewards.

3. Vote

  • The user who holds MainNet COCOS in circulation can be a voter.
  • When you are going to vote, enter the name of the election node in the search box on the right or check the checkbox on the right side.
  • After clicking the “vote” button, voters can fill out the number of votes and confirm.
  • Voting has been completed

4. Here are the voting rules:

Rule NO.1: Votes Accumulation Principle.

It means COCOS MainNet node voting will be calculated by accumulation. For example, if you vote 10 votes for nodes 1, 2, 3, 4, and 5, and then add 20 additional votes for them, eventually nodes 1, 2, 3, 4, and 5 receive 30 votes.

Step 1: Vote 10 votes for nodes 1, 2, 3, 4, and 5

Step 2: Then, add 20 additional votes for nodes 1, 2, 3, 4, and 5, eventually nodes 1, 2, 3, 4, and 5 receive 30 votes.

Rule NO.2: Consistent Votes of Selected Nodes Principle.

For example, If you want to vote 40 votes to nodes 1, 2, 3, 4, 5, 6, and nodes 1, 2, 3, 4, 5, have already received 30 nodes. You have to check the checkbox of 1, 2, 3, 4, 5, and 6. Then, add 10 additional votes for nodes 1, 2, 3, 4, 5, 6, eventually nodes 1, 2, 3, 4, 5, and 6 receive 40 votes. Voters have to check the checkbox of 1, 2, 3, 4, 5, and 6 when voting for node 6, otherwise, votes obtained by nodes 1, 2, 3, 4, and 5 will be invalid.

Step 1: If you want to vote 40 votes to nodes 1, 2, 3, 4, 5, and 6, nodes 1, 2, 3, 4, 5, have already received 30 nodes, you have to check the checkbox of 1, 2, 3, 4, 5, and 6

Step 2: Then, add 10 additional votes for nodes 1, 2, 3, 4, 5, and 6, eventually nodes 1, 2, 3, 4, 5, and 6 will receive 40 votes.

Notice: Even if your balance is 0, and you have already voted 40 votes for nodes 1, 2, 3, 4, 5, you can select the checkbox of 1, 2, 3, 4, 5, 6, and enter 0, eventually nodes 1, 2, 3, 4, 5, and 6 will receive 40 votes.

Rule NO.3: The Latest Voting will Replace the Previous Operation and all Selected Nodes have to Receive Consistent Votes.

For example, If you just want to vote 50 votes to node 6, but nodes 1, 2, 3, 4, 5, and 6 have already received 40 nodes, all you need to do is add 10 additional votes for node 6 only, eventually only node 6 will receive 50 votes. Votes obtained by nodes 1, 2, 3, 4, and 5 will be invalid because the latest voting will replace the previous operation.

Step 1: Unselect the checkbox of nodes 1, 2, 3, 4, and 5. Do check the checkbox of node 6.

Step 2: Add 10 additional votes for node 6, eventually node 6 will receive 50 votes. Votes obtained by nodes 1, 2, 3, 4, and 5 will be invalid because the latest voting will replace the previous operation.

Rule NO.4: An Account can Vote up to 11 Nodes.

Rule NO.5: One vote(COCOS) can vote for up to 11 nodes simultaneously and only cost one COCOS.

5. Withdraw

There are two situations for votes withdrawal, one is to adjust the number of votes, and the other is to change the selected nodes.

5.1) Adjust the Number of Votes

If you have already voted 50 votes for nodes 1, 2, 3, 4, 5, and 6, but you want to withdraw 10 votes, you can select the checkbox of nodes 1, 2, 3, 4, 5, 6, click

“Withdraw “button, fill out 10 and eventually nodes 1, 2, 3, 4, 5, and 6 will receive 40 votes. Please note that you should withdraw the votes of nodes 1, 2, 3, 4, 5, 6 at the same time base on the Consistent Votes of Selected Nodes Principle.

5.2) Change the Selected Nodes

If you have already voted 40 votes for nodes 1, 2, 3, 4, 5, and 6, but you change your mind, you do not want to vote for nodes 4,5,6. In this situation, you should unselect the checkbox of nodes 4, 5, 6, click “Withdraw “button, fill out 0, and eventually, only nodes 1, 2, 3 will receive 40 votes. Nodes 4,5,6 will receive 0 vote.

6. Redeem

  • Please use CocosWallet for the withdrawn votes redemption process.
  • If you wish to redeem your votes, it takes 72 hours.

Mobile User Guide: How to Vote by CocosWallet.

1. Download and install CocosWallet

2. Register and log in to the COCOS MainNet account.

Follow the COCOS MainNet account requirements to register an account, and save the account password and private key carefully.

3. Vote

When you are going to vote, enter the name of the election node in the search box on the right or check the checkbox on the right side. After clicking the “vote” button, voters can fill out the number of votes and confirm.

4. Withdraw

There is no difference between the withdrawal rules by using Cocospay wallet plug-in and using CocosWallet, so please follow the PC user guide.

5. Redeem

Click the “Redeem” button for the withdrawn votes redemption.

Please note that it will take 72 hours for the withdrawn votes unlock, which is linear unlock. If you redeem within 72 hours, it will take an additional 72 hours for the remaining locked COCOS to be unlocked.

Notices:

  • The voting rules of the active BP and the council are the same.
  • Please use the private key (owner) to log in, if you use the private key mode to log in and vote,
  • There is no reward for voters.

If you have any other questions, please feel free to join Cocos-BCX official group and contact admins for help, we will solve your problems as soon as possible.

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A DAO for future Metaverse with decentralization technology and MetaFi. NFT, GameFi, IGO and more. Website: cocosbcx.io

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Cocos-BCX

Cocos-BCX

A DAO for future Metaverse with decentralization technology and MetaFi. NFT, GameFi, IGO and more. Website: cocosbcx.io

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