Motivating everyone to vote!

The blockchain community as a whole faces the issue of low participation rate for community projects. The continued success of Nebulas requires everyone to participate in the ecosystem development as well as continually increasing voting participation. A goal for Nebulas is to continue to provide positive incentives for the community and to build a powerful circle of economies and ecology within the community.

We believe that community members who actively participate in on-chain voting are contributing to the economy and should be given incentives. These incentives should be appropriated to the proper participants and should not be used maliciously.

How to receive voting incentives

NAT airdrops will be conducted at the beginning of every week on the Nebulas mainnet. Once addresses obtain NAT, they can choose to vote on various proposals and elections. Available voting options are “Yes,” “No,” or “Abstain” and each choice is a valid option to receive incentives. If a user does not participate in any votes during the weekly airdrop cycle, they will not receive any additional incentives the following week.

Proportion of incentives

The distribution and proportion of incentives should be fair and not used maliciously. To assist with these standards, the weekly NAT airdrop will look at the following:

1) The number of NAT the address utilized for voting during the week.

2) The amount of NAT tokens to be received this week based on the address’ NR score from the previous week.

If a person utilizes their NAT for voting, they qualify to receive a NAT reward. However, if the same address would receive the NAT airdrop due to their NR score, they would not receive both the airdrop and the additional reward. Instead, they will receive the lower amount of the two.

During the first week of NAT incentive distribution on the maninet address, the following formula will be used: μ*min(NATv,NATnr).

Above Formula breakdown:

μ is the incentive index, μ=10 under the initial parameters

min() will use the smaller of the two values in parentheses

NATv is the amount of NAT that was sent out from the address for the week

NATnr is how much NAT the address will receive this week based on the previous weeks NR score.

When NATv (sent by the address in the week) is less than or equal to NATnr, the number of incentive NAT obtained will be μ*NATv. When the NATv of the address is greater than NATnr, the amount incentive obtained will be μ*NATnr.

For example:

An address obtains 10 NAT via airdrop based on its NR score from the previous week and there is a total of 1000 NAT held within the address. This week, the address votes 10 NAT and in return, will receive a 100 NAT voting incentive (10*NATv). If the address votes 1000 NAT, the incentive would still be 100 NAT. This is due to the address receiving 10 NAT this week via airdrop due to their NR score(10*NATnr). Since the NATnr is 10, this is the maximum multiplier that will be applied.

Note: If a address does not have a NR score nor did it receive NAT via their NR score from the previous week, the address does not qualify for NAT incentives.

For more information about the NATnr calculation and distribution, visit: https://medium.com/nebulasio/check-your-nr-see-how-many-tokens-you-can-receive-from-the-nat-airdrop-a45b0efdd697

Similar to the weekly NAT airdrop and the NAS pledge program, the distribution of the NAT voting incentive is also decremented weekly by the same coefficient. Under the initial parameters, the coefficient is λ = 0.997.

“Let everyone benefit from decentralized collaboration” is a core vision and direction of Nebulas. We invite all community members to actively participate in voting, receive NAT incentives and to promote the positive development of Nebulas ecosystem.

About Nebulas Rank (NR) and NAT

Nebulas Rank (NR) is the first on-chain, native, multidimensional value measurement mechanism for blockchain data. The Nebulas Autonomous Token (NAT) is the asset derived from Nebulas Rank which will be embodied in the form of a NRC-20 Token and will serve as the only voting medium within the Nebulas governance ecosystem.

The total circulation of NAT is related to the NR of the entire network. Based on the current Nebulas Rank of the entire network and the current initial parameters, the upper limit of the total amount of NAT to ever exist will be 100 billion. NAT airdrops will begin on May 13, 2019 and will continue to airdrop to mainnet addresses on a weekly basis.

For addresses with a NR score greater than 0, the number of distributed tokens will be calculated based on the NR value of the users address from the previous week.

For more details, read: Check your NR & see how many tokens you can receive from the NAT Airdrop!

Even if you do not have a Nebulas Rank, you can still obtain NAT by pledging NAS. For more details, read: How to receive NAT without a Nebulas Rank

Notes

For more details about Nebulas Rank, read the official Nebulas Rank Yellow Paper: Nebulas Rank Yellow Paper The detailed algorithm for NAT will be disclosed in the Orange Paper: Nebulas Community Governance & Autonomous Metanet.

Disclaimer