Voting

The Voting System of CardanoLands determines which (N) super collections qualify for Hexonium mining on the platform. The initial number of super collections is 10. Community members and collection creators that wish to promote their projects in the Leaderboard can do so using their $EXO holdings.

To participate in the voting mechanism, users have to stake $EXO tokens. The larger the amount of locked $EXO the bigger their influence on decision making (1 $EXO = 1 vote). When voting for a specific project, the tokens are locked (temporarily transferred to the platform’s Voting wallet) in order to gain vote points. Users may unlock the tokens at any time without consequences.

In order to receive staking rewards, CNFT Collection must get enough votes to get into the top 10 leaderboard or even the High League (250 000 votes).

For convenience and transparency the voting system is divided in rounds that repeat on 14-day timeframes. During each round, users have the right to withdraw their votes or redistribute them among other candidates at their discretion. After each round, the system makes a snapshot of the vote distribution and the list of winners is determined. This process is followed by the next round during which users may vote for the next distribution of collections in the leaderboard.