Every six minutes, somewhere in the world, a new block of MemoryCoin is minted. Every two hours there is a special block which also contains community grants. These are made to the addresses that lead the MemoryCoin vote. Grant awards make up 6% of all the MemoryCoin minted.
The Voting System
The voting system draws together two concepts – Voting Rights and Transferable Voting. Voting Rights means that MemoryCoin owners’ influence is in proportion to the amount of MemoryCoin they own. Transferable Voting means that owners may vote with an order of preference, and their vote will be transferred as preferences are eliminated during the vote count. When a higher preference is eliminated because of lack of support, the whole vote is transferred to the voter’s next preference.
The Droop Quota is used during the vote count.
Voting results for every block until now can be checked using the vote explorer.
How to Vote
Every 20 Blocks, 1/5 of a block reward is paid to 6 special addresses. These addresses are chosen by voting.
Here are the specially formatted addresses to use:
1. You want to vote for barwizi as CSO –
How to: Send .00000001 MMC to his special address, MVTEcsoqoc4bVUHgVdxnQx2L53vm5UgXpM
2. You want to vote for belltown as CNO –
How to: Send .00000001 MMC to his special address, MVTEcnoNKMCJKUsBVVy1xyUiDAhtcJWgWP
3. You change your mind, now you want to vote for montaxx as CSO
How to: Send .00000001 MMC to his special address, MVTEcsoCi2QBXFTsRARm81nXSkaqeAt5wT
4. You don’t want anybody to be CMO
How to: Send .00000001 MMC to the spoiler address, MVTEcmo1111111111111111111115e9dK3
5. You want to vote for barwizi as second preference for CSO
How to: Send .00000002 MMC to his special address, MVTEcsoqoc4bVUHgVdxnQx2L53vm5UgXpM
6. You want to reset all your voting preferences.
How to: Send all your coins to a new wallet.