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.