🗣️Voting
VORTX uses a voting system to allow users to signal market outcomes and resolutions.
To be able to vote, users need to stake at least 10k $VORTX tokens to become an Oracle.
Once the vote is sent (one per user, per market), the system "saves" the amount of VORTX that the user had staked at the moment
Voting Process
Eligibility: Users must have at least 10,000 VORTX staked to participate as Oracles
One Vote Per Market: Each Oracle can vote only once per market
Voting Power: The voting power is determined by the amount of VORTX staked at the time of voting
Vote Options: Oracles can vote:
YES - The market condition was met
NO - The market condition was not met
Vote Weight Calculation
The weight of each vote is proportional to the amount of VORTX staked:
If Oracle A has 50k VORTX staked and Oracle B has 100k VORTX staked
Oracle B's vote carries 2x the weight of Oracle A's vote
Resolution Timeline
Voting Period: Users can vote at any moment, while the market is OPEN or CLOSED (meaning no more deposits allowed cause end time passed).
Admin retains final decision power while network proves reliability (first 6 months. More details in this section)
Rewards and Penalties
Correct Votes: Oracles who vote with the majority consensus receive rewards from the market fees (2% of winning tokens claims). The first oracle to vote for the winning option will get a 10% weight bonus.
Incorrect Votes: No penalties for minority votes (to encourage honest participation)
Non-Participation: No penalties for not voting, but miss potential rewards
This system ensures that market resolution is decentralized, weighted by economic stake, and incentivizes accurate Oracle participation.
Remember to read this section to understand how VORTX Network will help with resolution.
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