Tokenized voting rights! AVACUS’s new voting system

Hi all! This is Avaholic Cryptanbaby Monaka!

Avacus has announced the details of the next new currency voting that will be held next month.

It will be carried out in a new form, which will be experimentally, revolutionary, and completely different from the last time.

This method has never been used before!

That mechanism is “Sub-Tokenized Voting Rights”
What is that?! Sounds so new!

The VACUS vested balance that is necessary for voting 

became 1/10 of the previous voting requirement; it will make it easier for everyone to participate in the voting!

This lowered the hurdle to join by a lot!

*What is AVACUS?(avacus.io)

Avacus is an innovative web service that connects people who want to shop for great deals using cryptocurrency. It is also for people who want to get cryptocurrency without using an exchange. Currently available for Bitcoin and VACUS through Amazon.jp.

*Bitcoin Cash was chosen during the last voting session and will be available to use on Avacus soon.

*What is VACUS?

VACUS is a Counterparty token that is connected with Avacus. 100% of the fee generated by the users using Avacus will be returned to the VACUS token holder by lottery. 

[Voting Schedule]

During June　   Currency candidate selection for voting ← Here now!

July 1st 　　　　Selected candidate announcement

July 24th 　　　 Voting rights granted, Voting starts

End of July 　　 Voting deadline・Counting ballots

[New Voting System]

Depending on the number of trades and the amount of balance as of July 24th, the sub-token used for voting (VACUS.VOTE.2) will be distributed to users with voting rights.

<Changes from the last time>

・The minimum balance required to acquire voting rights has been reduced to 1,000, which is 1/10 of the previous requirement of 10,000!

・The voting rights will be decided by the overall number of trades (even if the trades have no feedback yet). The previous session only counted trades with feedback.

・The maximum number of votes which was 14 votes per person has been increased to 20 votes this time!

・The remaining sub-tokens for voting will be burned after the voting rights distribution

※ After distributing the sub-token for voting, voting rights will not increase even if you increase the number of transactions or the amount of current balance.

Note that token distribution is ONE TIME ONLY

This time, the voting right is sub-tokenized (VACUS.VOTE.2), and the user who distributed the token will vote by sending a token to the address that is dedicated to each currency.

And as of the end of July, the address of the currency which has acquired the most sub-tokens for voting will be adopted to Avacus!

■ Unlike last time, once you vote it will be impossible to change which currency you voted for! So choose wisely!

It’s the Real Battle!!!

Looks like it’s going to be an even bigger,
more heated voting battle than last time!

And this time there’s some experimental points for this voting session.

The sub-tokens for voting don’t just have a “token” in its name; 
you can actually buy and sell this token!

That means, people who are not interested in voting can simply use it on DEX to trade, and communities that are eager to win this voting session can buy this sub-token (voting rights) from these people!

The competition level that is required for this voting session
will be much higher compared to the previous one including
 the comprehension capabilities of the participants,
 financial strength and psychological bargaining.
It will be very interesting to see which elements
work and how it all shakes out.

<Important points for voting>

Voting can be done by withdrawing the voting sub-token from Avacus’s Wallet; however in that case all voting sub-tokens will be withdrawn to the one specific address. EX: If you have 10 voting sub-tokens, all of them will go to one address if you choose to withdraw them directly from the Avacus wallet.

If you want to use your voting sub-tokens separately to vote for multiple currencies, you will have to transfer your sub-tokens for voting to the Counterparty Wallet first, and then send it separately to the designated addresses.

I’ve heard that one of the community’s
 has already started gathering up the community members to study
 how to accumulate VACUS intensely…
Since the last voting session was such an excitement,
 I get the impression that the value of getting listed on Avacus
 is being recognized in the crypto world.

Well, which currency will win this upcoming Avacus voting session!?

And how will this experimental voting system affect the outcome!?

We all can’t wait for voting to start, 

but for now, let’s start preparing by using Avacus to get a lot of sub-tokens for voting while enjoying discounted shopping at Amazon!

The summer battle is almost here!

*What is vested balance?

Vested balance is proof that you had the VACUS balance for a certain period of time.
After you connect your Avacus wallet with Counterparty Wallet, each 144 blocks (about 24hours) your vested balance will increase (Current VACUS balance - vested balance) *0.1

Example:
Day1 (1000 VACUS - 0)*0.1=100
Day2 (1000 VACUS - 100)*0.1=90
Day3 (1000 VACUS - 190)*0.1=81

in 3 days, you have a vested balance of 271 out of the 1000 VACUS balance you hold. Regardless of the VACUS balance you hold, it will take about 2 weeks to get all your balance to be fully vested.

　　　　　　　　　　　　　　　　　　　　　　Translated by @CryptoYami