We’ll introduce a special budget for the Security Council elections to reflect the importance of participating in both the nomination and the election phase.
Budget
The total budget for the Security Council elections will be $40,000, broken down as follows:
- $15,000 for the nomination phase
- $25,000 for the election phase
Rewards Cap
Given the increased budget, the maximum rewards cap per delegate will be removed for the election phase. For the nomination phase, the reward cap will remain similar to the onchain constitutional quorum votes, which is set at $700 per delegate.
Rewards Decay
Similar to the ‘Total Participation (TP)’ penalty that SEED introduced in previous elections as part of the DIP, we’ll introduce a rewards-decay system to incentivize early participation in the elections.
- Days 1 to 7: Delegates who vote during this period will not receive any penalty.
- Days 8 to 21: Starting on day 8, the delegate will receive a linear decay of their rewards, driven by the linear decay of their voting power, which is built in the Security Council election process.