It’s my pleasure to introduce Ascend Lisk Delegates
We’re a team of talented web and software developers, system engineers, designers, and more. It is our goal to use Lisk’s block rewards to add maximum value to the Lisk ecosystem.
But… What is the Pledge System?
WHY THE PLEDGING SYSTEM
Historically, Lisk’s forging positions have experienced little turnover, even though many of Lisk’s delegates are largely anonymous and provide little discernible contribution to the Lisk ecosystem other than maintaining a node. One reason for this is that it costs voters to change votes. First, it costs voters 1 LSK per voting transaction. Second, and more importantly, voting for non-forging delegates often means unvoting forging delegates. This results in the voter losing shared block rewards from the unvoted delegates while the hoping that other voters will eventually vote in the new delegates. As a result, voters are placed in the unhealthy position of being penalized for voting for better delegates. The Lisk Ascend Vote Pledge System seeks to address this problem.
HOW DOES IT WORK?
By pledging votes instead of changing them, voters can signal support for Lisk Ascend without losing LSK. When Lisk Ascend obtains enough pledges to reach forging positions, voters can then vote for Lisk Ascend all at once, knowing that Lisk Ascend delegates will likely enter into forging positions quickly and be able to start sharing block rewards. Through this method, voters can avoid being penalized for voting for better delegates.
WHY A SIGNED MESSAGE?
The Lisk Ascend Vote Pledge System requires voters to sign a message using Lisk Nano. This process helps ensure that the pledge total is accurate. By signing a message, the voter is able to prove that the voter controls the Lisk Address that is being pledged. Without showing control of the pledged address, malicious actors could claim to pledge Lisk they do not actually control, resulting in an inaccurate pledge total.
WHEN WILL THE VOTE HAPPEN? WHAT ABOUT VOTE FEE?
Once enough pledges are received, Lisk Ascend will organize a vote swap week where voters will be asked to change their votes. The vote fees will be refunded automatically when Ascend will join forging position and will process the 3rd payout.
Check out liskascend.com for more information!