Announcement of New Voting Rules for the KCC Unicorn Contest Top 5 Projects
Dear KCC Community Members,
Thanks again for your continued support of the KCC Unicorn Contest!
We have tested and reset the configuration of the snapshot proposal. The new KCC Unicorn Contest Top 5 Projects voting will take place between 08:00 on May 25, 2022 (UTC) and 08:00 on May 27, 2022 (UTC).
In the previous announcement, we mentioned that there would be some compensation. After discussions, we decided to give $3,000 to users who participate in this community voting. The $3,000 reward will be distributed in proportion to the votes. With more voting power, you will share more percentage of the prizes. If you want to share this prize pool, you can prepare as many KCS as you can.
Users who completed all the tasks from the Top Unicorns Week must not forget to participate in community voting. We will randomly select 730 users who have completed the Top Unicorns Week tasks and participated in the community voting to airdrop KCC Unicorn Limited Edition NFT.
More details are below:
Note: To participate in voting, you will need to hold KCS in your wallet. Snapshot.org will scan addresses with KCS and take a snapshot. The amount of KCS that has been snapshotted will determine your voting power. Please be aware that no KCS will be consumed for voting. You do not need to spend KCS to vote. The specific rules are described below.
*This vote is only voting for the Top 5 projects, and it does not involve independent awards. Snapshots will be taken randomly between May 24, 2022, and May 25, 2022 (UTC);
08:00 AM on May 25, 2022–08:00 AM on May 27, 2022 (UTC)
Voting Systems: Weighted-Voting
Each user’s voting power is based on the number of KCS they have on KCC, where 1 KCS = 1 Vote. In order to avoid the possibility of a whale influencing decisions on its own, an individual hard cap on the voting power is implemented. This strategy executes a configured strategy and applies an anti-whale measure to its results to reduce the impact of big wallets on the resulting value, reducing the effect on the voting power as the token amount increases.
The GoDAO members will have an additional 10% of the voting counts and a one-vote veto. For example, in Project A, the total number of votes from community users is 100,000; in this case, the relevant members of the KCC GoDAO will split an additional 10,000 votes. Hence the total number of votes is 110,000. We will count the votes among these 110,000, and the final ranking results will be announced to the community after combining the total number of votes.
Voting URL: https://snapshot.org/#/kcc.eth
- Behaviors such as fraud or anything that does not comply with voting conduct are spotted during the proposing and voting process;
- $3,000 community voting awards and limited NFT Airdrop will be distributed within a week after the voting ends;
- In order to avoid the possibility of a whale influencing decisions on its own, there is an individual hard cap on the voting power.
- The KCC official team will have the final rights to execute the one-vote veto and announce violations to the community.
The KCC GoDAO