The board coin holders have a direct interest in the development of the boards they have purchased. The more popular the board becomes and the better it is managed, the more people, in theory, will want to buy its coins, and the higher their price will be.
The success of the board depends on its administrator. Administrator sets the vector of board development, recruits a team of moderators, define the rules and is responsible for board management.
However, administrators are just the same users like you. They may start to make mistakes in management, they may lose interest in their boards, or simply stop making efforts to develop them. That is why boards and their coin holders need a tool to protect themselfs, which would ensure the sustainability of the development of communities and would allow them not to depend on the actions of one particular user. Such a tool on MAIN is the board administrator election.
How do elections work?
Any user can add himself to the list of candidates for the position of administrator of any board. To do this, you need to go to the board you need, open the voting page there and click on the Add to candidates button. To add yourself to the list of candidates, you must have at least one board coin (at the address linked to your BSC account).
On the same screen, coin holders can view a list of all candidates and vote with their coins for the candidate they want to see as an administrator.
Every day at 12:00 (GMT) we check how many coins were given for each candidate, and we appoint as the board administrator the candidate who collected the most coins in his favor.
To better understand how voting works, below you can find the most popular questions about it.
Can I vote for myself?
Yes, you can.
Who can vote?
All coin holders can vote for candidates. In order for your vote to be counted, you need to connect your BSC address with your board coins to your MAIN account and vote for any candidate.
Do I have to vote every day?
No, you can vote for a candidate once and at any time. Your vote will be automatically counted for every election until you cancel it or disconnect your BSC address from your MAIN account.
Do all coin holders have to vote?
No, it is not necessary for all board coin holders to vote. The winner is determined by a simple majority of active votes.
How to find out on which board the administrator has changed?
You do not need to check all the boards where you voted every day to find out if the administrator has changed there. If the administrator changes on the board in which you voted, you will automatically receive a notification about this. You just need to check your notifications, and you will not miss changing the administrator in the boards that are important to you.
What if the candidate you voted for withdraws his candidacy?
Then you will receive a notification and your vote will be automatically withdrawn. If you wish, you can go to the voting page and re-vote.
Can I re-vote?
Yes, you can change the candidate you vote for at any time. Important! Election results only appear at 12:00 (GMT), so you will have to wait for the next election results to see your vote.
What if the current administrator removes himself from the list of candidates?
In the next election, the board administrator will be the participant with the most votes. If the board has no more candidates, then the current administrator will continue to manage the board until one of the users adds himself to the list of candidates.
What if the candidate who is currently the administrator wins the election?
Nothing will happen, he will simply continue to be the board administrator.
Why do the voting results become known only at 12:00?
This is done so that coin holders make their own decisions, and not be guided by how many coins are given for each candidate. This is the standard procedure for all elections and is also called the day of silence.
In addition, it can save boards from fraudulent actions by current administrators. Since administrators will not know until the very last moment whether they will win the next election or not, they are more likely to behave as if they continued to manage the board further.
Why are the voting results summed up every day?
First, this approach simplifies the entire voting procedure. Holders do not need to constantly monitor all the boards, the coins of which they have, so as not to accidentally miss a vote. They can once choose the candidate they want to see in the admins, vote for him and no longer worry that they will miss elections – their votes will be automatically counted every time. On the other hand, if they lose confidence in their candidate, then they will not have to initiate a complicated voting procedure – they can go to the voting page at any time and change their vote. It will automatically be taken into account in the next election results.
Secondly, this procedure protects the boards from unfair "takeover". If someone decides to buy board coins in order to "seize" it (to become its administrator), then he will have to hold these coins all the time he wants to remain an administrator. Otherwise, if, after winning the election, the candidate immediately sells all his coins, then the next day he may no longer have enough coins to win, and he may be automatically removed from his position by another candidate who is supported by the majority of coin holders.
Why do you need to have at least one coin to run for administrator?
One coin serves as a minimum filter that shows the seriousness of the candidate's intentions. This can be compared to the procedures for nominating candidates in real elections. As a rule, they either need to be supported by electorate or must be nominated by some party. We use the presence of the board's coins.
Do I have to have board coins to remain a candidate or board administrator?
No, you don't technically need to own the board's coins to remain a board candidate and administrator. If the majority of coin holders vote for you, then you can remain an administrator even without having coins. However, the presence of coins can serve as a good signal to all holders that you are financially interested in the development of the board as well as they are, which will clearly add support to you. Plus, having coins and voting for yourself can also help you win elections and collect more votes.
I am the board administrator and I am afraid that my board will be taken away from me.
First, there is no incentive for coin holders to withdraw an administrator who is developing their board well. If the administrator successfully fulfills his duties, the board grows and the number of buyers of his coins increases, then why kill the goose that lays the golden eggs for them?
Secondly, even if someone still decides to “seize” your board, you can get good compensation for this. The coin price function is designed so that each new board coin always costs more than the previous one. If someone single-handedly decides to seize an existing board, then he will have to buy >50% of his coins and spend three times more tokens on this than was spent on buying existing coins.
Thus, even if the current administrator loses the election, he can always either sell his coins at a higher price and make money on it, or save them and see what happens to the board next. If the board continues to develop under the new administrator, then you can continue to earn on its growth, without putting any effort into it. If the new administrator fails to develop the board, and he decides to sell his coins and exit the board, then you can again become its administrator. At the same time, you will additionally also earn MAIN tokens on commissions from the purchase of coins by a user who tried to "seize" your board.
Could someone become an administrator just to withdraw the entire board fund?
When changing the board administrator, the board fund is automatically frozen for 24 hours, so the new administrator, at least, will not be able to spend it on the first day. In theory, this is enough for one of the coin holders to "punish" such an administrator by selling some of his coins and causing a loss to the "invader". Such a mechanic can make the strategy “buy coins, become an administrator and steal the fund” rather risky, because the new administrator can lose even more tokens than he “steals” by reducing the cost of coins.