I discussed with some people who wondered how voting for proposals works.
Here are some elements…
Let’s say :
- Delegator A has 10k FX, of which he delegated
- 6k FX to validator V1 (who detains 20k self-bonded FX — 26k FX total — and no other delegations), and
- 4k FX to validator V2 (who detains 30k self-bonded FX — 34k FX total — and no other delegations).
There are 60k FX total at stake (accounted for, in the 40% quorum)…
Multiple possibilities. 4 different ones hereafter :
- 1a) A didn’t vote yet. V1 didn’t vote and V2 didn’t vote neither. None of the 60k FX will be counted. Quorum = 0%.
- 1b) A did vote YES. V1 didn’t vote and V2 didn’t vote neither. 10k FX will be counted as a YES, 50k FX will not be accounted for. Quorum = 16.7% - Yes = 100%.
- 1c) A did vote YES. V1 voted NO and V2 didn’t vote. 10k FX will be counted as a YES, 20k FX will be counted as a NO, 30k FX will not be accounted for. Quorum = 50% - Yes = 33.3% - No = 66.7%
- 1d) He did vote YES. V1 voted YES and V2 voted NO. 30k FX will be counted as a YES, 30k FX will be counted as a NO in the quorum. Quorum = 100% - Yes = 50% - No = 50%
You see the “static” idea.
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- Then, let’s say we’re in situation (1d) and V1 decides to change its vote from YES to ABSTAIN before the end of the proposal voting period.
==> A did vote YES. V1 changes its vote from YES to ABSTAIN and V2 voted NO. 10k FX will be counted as a YES, 20k FX will be counted as ABSTAIN, 30k FX will be counted as a NO.
==> The proposal will automatically see 20k FX less in YES and 20k FX more in ABSTAIN. NO doesn’t change and stays 30k FX.
==> Quorum = 100% - Yes = 16.7% - Abstain = 33.3% - No = 50%
- Then, let’s say we’re in situation (1d) and V1 decides to change its vote from YES to ABSTAIN before the end of the proposal voting period.
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- Then, let’s say delegator A decides to change its vote from YES to NO before the end of the proposal voting period.
==> V1 voted ABSTAIN and V2 voted NO. 20k FX will be counted as ABSTAIN, 40k FX will be counted as a NO.
==> The proposal will automatically see 10k FX less in YES and 10k FX more in NO.
==> Quorum = 100% - Abstain = 33.3% - No = 66.7%
- Then, let’s say delegator A decides to change its vote from YES to NO before the end of the proposal voting period.
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- Then, let’s say delegator A decides to redelegate 4k FX from validator V1 to a new validator V3 (who has 40k self-bonded tokens) and who didn’t vote yet.
==> A used to vote NO. V1 voted ABSTAIN, V2 voted NO, V3 didn’t vote yet. 20k FX will be counted as ABSTAIN, 40k FX will be counted as a NO.
==> The result of vote didn’t change, but quorum did (because there’s a new validator with 40k FX, giving a total bonded token of 100k FX now).
==> Quorum = 60% - Abstain = 33.3% - No = 66.7%
- Then, let’s say delegator A decides to redelegate 4k FX from validator V1 to a new validator V3 (who has 40k self-bonded tokens) and who didn’t vote yet.
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- Then, let’s say validator V3 decides to vote YES before the end of the proposal voting period.
==> A voted NO. V1 voted ABSTAIN, V2 voted NO, V3 votes ABSTAIN. 40k FX will be accounted as YES, 20k FX will be counted as ABSTAIN, 40k FX will be counted as a NO.
==> Quorum = 100% - Yes = 40% - Abstain = 20% - No = 40%
- Then, let’s say validator V3 decides to vote YES before the end of the proposal voting period.
Rule #1: as you could see, a validator never overrides a delegator’s vote.
Rule #2: you will also never transform a vote into the absence of vote - i.e. cancel the existence of a vote. You can change your vote option (YES, NO, ABSTAIN, NO_WITH_VETO), but not delete it.
Rule #3: the quorum can never reduce over time !! but the vote %age can, even if the absolute number of voting power does not change (in that case, that’s because the quorum increased).
Rule #4: A delegator vote always overrides its validators’ whatever the temporal order of votes is.
Hope that’s clear enough… Don’t hesitate to ask questions or propose corrections (noone’s perfect)
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