EOS uses DPoS consensus algorithm, where 21 community voted Block Producers provide the essential computational power, bandwidth and storage for EOS main platform. When EOS main platform goes live, users will be able to cast votes to their desired Block Producer candidates. One EOS can be staked to be one vote, one vote can be used to vote for up to 30 candidates, counting as one vote for each candidate. Users can subsequently change their intended votes to different candidates, reclaiming the staked EOS, which will be unlocked after 72 hours. So, how do users execute voting in imToken?
Step by step guide
1. Under “Browse” tab, click on “Stakevote” DApp to enter voting interface.
2. Click on “Wallet” at the top right-hand corner to access wallet details. You will be able to see detailed information on your EOS wallet, including EOS balance, number of staked EOS (to be used for voting), and voting leaderboard (Annex III).
3. Return to the voting interface, simply click on the circle at the right-hand side of desired Block Producer candidate to vote. To find out more about individual Block Producer candidate, click on the name on the candidate.
4. Click vote to enter the confirmation page, enter the desired amount of EOS to stake. If you wish to use the default staked EOS to vote, you may proceed to vote directly, if you wish to increase the staking amount, please select “Add stake” and enter the desired amount. Click on “Vote” at the bottom, enter your password to proceed.
5. Enter “Current Vote” to check on the status of your vote, before EOS main platform activates, users are not allowed to reclaim the casted votes. (Annex IV)
Things to Note
1. Regulations on EOS Snapshot
According to EOS regulations, users with <1 ERC-20 EOS, despite conducting proper EOS mapping, the snapshot was taken to omit these users, when EOS main platform goes live, there will be no native EOS token in the EOS wallet.
2. Regulations on Staking
When the EOS main platform goes live, users may notice that there is a difference between the initial ERC-20 EOS balance and the native EOS balance in the EOS wallet, this is an introduced rule on EOS platform, explanation will be as follows:
If ERC-20 EOS balance is ≤ 3 and ≥ 1, the native EOS balance will be 0.1 EOS, remainder has been staked for voting by default.
If ERC-20 EOS balance is ≤ 11 and ＞3, the native EOS balance will be 2 EOS, remainder has been staked for voting by default.
If ERC-20 EOS balance is ＞ 11, the native EOS balance will be 10 EOS, remainder has been staked for voting by default.
The amount of native EOS token you own = Remaining EOS in wallet + Amount of EOS staked for voting
3. Regulations on Reclaiming Staked EOS Token
The total circulating EOS is 1,000,000,000 (1 billion), EOS main platform will be officially activated when more than 150,000,000 (150 million), in other words 15% of total circulating supply has voted.
Before activation of EOS main platform, users are not allowed to reclaim stake-voted EOS. Reclamation can only be done when more than 15% EOS has voted, and the reclaimed EOS will be transferred to your wallet 72 hours later.