In line with our roadmap, aelf has officially opened the node election today. A total of 17 production nodes will be elected by the end of this year, and they will participate in the ecological construction and development of aelf mainnet. The election is transparent and we welcome community members from all over the world to vote for their preferred candidates. Here is how you can do it.
Stake to Vote Mechanism
The aelf team designed a bonus mechanism to encourage nodes to participate in the aelf ecosystem: During the AEDPoS consensus operation of the aelf main chain, there is a weekly transition behavior. At the end of each session, the aelf mainnet consensus contract will generate a dividend of N * 0.125 ELF based on the actual number N of blocks produced in the current session. The dividends will be injected into the following main chain bonus pool proportionally as a node incentive.
ELF holders can obtain voting rights by staking ELF so that they have access to gain income by voting for nodes. And voters’ income comes from Citizen Welfare, which scales 75% of the main chain dividend pool.
1 ELF token represents 1 ticket. Voters can choose the lock-up periods among 3 months, 6 months, 12 months, 24 months, and the longest is 36 months. The profit distribution will be calculated according to the number of votes and the lock-up time. The longer you lock, the higher the return rate it will be.
Claim your Citizen Welfare/Voting Income
After a voting phase ends, the voting income could be collected. In other words, users can collect their Citizen Welfare every 7 days.
The voting affects the result of the next election. In other words, users need to vote before 3:00 P.M. Thursday to accrue their first round of voting income on 3:00 P.M. next Thursday. The Citizen Welfare could be claimed every Thursday until the agreed unlocking date.
If a user participates in the voting before 3:00 P.M. on September 9th, s/he will receive the first dividend income based on the weight of the vote after the end of the node change at 3:00 P.M. on September 16th.
If a user participates in the vote between 3:00 P.M. September 9th and 2:59 P.M. September 16th, the user will receive the first phase of dividends based on the weight of the vote after the end of the node change at 3:00 P.M. on September 23rd.
The Citizen Welfare could be claimed every week.
During the lock-up period, users are free to transfer their tickets to vote for other candidate nodes under free willingness. The action will not influence voting income.
Step 1 — Install the following tools before conducting the token swap:
- Google Chrome；
- Google Chrome aelf wallet extension（Night Elf）：https://chrome.google.com/webstore/detail/aelf-explorer-extension-d/mlmlhipeonlflbcclinpbmcjdnpnmkpf；
- aelf Wallet app（aelf Wallet）：Those who do not have an aelf wallet account can follow this tutorial to register：https://docs.browser-extension.aelf.io/v/langs-zh/
General — https://aelf.io/app/wallet-app-1.1.0.apk
Google Play — https://play.google.com/store/apps/details?id=com.legendwd.hyperpay.aelf
AppStore — https://apps.apple.com/us/app/aelf-crypto-wallet-by-haopu/id1507344137
Testflight （General）- https://testflight.apple.com/join/TclFysmO
Step 2 — Register or input your aelf identity.
Solution 1 — register: Use Google Chrome aelf wallet extension (Night Elf) to register aelf mainnet identity
- First, you need to enter a password with a length of at least 9 digits, which must have a certain degree of complexity. It can contain uppercase letters, lowercase letters, symbols, numbers. Then click the [Create Wallet] button.
- Through the previous step, you can see the NightELF User Agreement, please read it carefully and decide whether you want to use NightELF, then click Agree or Refuse.
- Click [Key Pairs] and [Create Keypair]
- Enter the Keypair name，click [create Keypair], write down the Mnemonic, and click [Next]
- Re-select the mnemonic phrase and click [Submit] to complete the registration. The interface will automatically return to the [Key Pairs], where all the identities will be listed. Click [Copy Address] copy the ID below, which is the aelf mainnet address.
Solution 2: Register through aelf Wallet to obtain an aelf mainnet identity.
Import the wallet into the Night_Elf extension by means of mnemonics or keys. For details, please refer to: https://docs.browser-extension.aelf.io/user/backup-import
Step 3 — Open the Governance — Vote session on aelf explorer. Click Login to connect the Night ELF extension. Please make sure there are 100,000 ELF tokens available for staking.
Step 4 — Scroll down to “Node Table”. Click the node name to check the details including the server configuration, O&M plan, introduction of the team, social media, etc.
Step 5 — Choose your preferred candidate and click “Vote”.
- Condition 1: fisrt-time voting
Click “From Wallet” and enter the staking amount and choose the lock time. Then click “OK” to complete voting.
- Condition 2: transfer voting
Click “From Not Expired Votes” to transfer to the node you prefer. Complete voting by clicking “OK”.
Note: During the staking period, users’ transfer to different nodes will not influence the voting income.
Step 6 — After clicking “OK”, you will see a page as follow. Click “Submit” to enable it.
Step 7 — Click “Submit”. Wait for about 1 minute and the page will display the success of lock-up. The pop-up of TXID represents your success of voting.
Step 8 — Go back to the “Vote” page. Click “My Vote” to check voting history.