💸Vote Exchange & Bribery
Last updated
Last updated
A specialised delegation portal where nodes, attesters, and validators can actively participate in the governance process by offering bribes in exchange for voting power. This setup is designed to uphold the highest standards of security, flexibility, and transparency in the governance process while making sure that OrdiBank's governance a lot easier to sustain
Overview:
The Delegation Portal is an innovative feature of our platform where nodes, attesters, and validators can list offers to acquire delegated voting power. In these listings, they lock a specified amount of USDC as a bribe in exchange for voting power from staked users.
Key Functions:
Add Listing: Nodes can create listings specifying the amount of USDC offered and the voting power required.
Supply Listing: Staked users can browse listings and accept offers that meet their criteria. Upon acceptance, the user’s voting power is transferred to the node, and they unlock the locked USDC as a bribe.
Locking Mechanism:
When a listing is created, the offered USDC is locked within the platform’s secure contract. This lock ensures that the bribe remains available and secured until a staked user accepts the listing.
Functionality:
The bribery mechanism is integral to the delegation portal, facilitating the transfer of USDC from nodes to users in return for voting power. This transfer is securely managed by the platform, ensuring that all parties adhere to the agreed terms.
Bribe Transactions:
These transactions are executed securely through the platform. The USDC is only released to the user once the delegation of voting power is confirmed, ensuring the transaction is mutually beneficial and secure.
Enhancements:
In addition to delegating voting power, the system now ensures that during the term of the bribe, the user cannot unstake their veORBK tokens. This condition is crucial for maintaining the integrity of the voting process and ensuring that the delegated power remains stable and predictable throughout the agreed period.
Transparency
Public Ledger: All transactions related to the delegation and bribery processes are transparently recorded on Ethereum.
Advanced User Interface: The interface provides detailed insights into active and historical listings, offering users comprehensive visibility and control over their engagements.
