Case Scenario for Genesis NFT Collection Vote-To-Earn
This page intends to give you a case scenario of how Genesis NFT Collection Vote-To-Earn work.
Case Scenario
ALPHA
5,000 NFTs
1 ETH
SOLARR would submit a proposal to the voting venue with ALPHA details. The voting period would end before ALPHA NFTs start selling through SOLARR platform.
Proposal Example:
A Genesis NFT Collection - ALPHA has been listed on SOLARR and would start the NFT selling on 10 March 202X (start selling date). Before the NFT sale open, let's join us and guess how many ALPHA NFTs could be sold on SOLARR within 2 weeks (a period of time).
1% (Certain %) of NFT sell volume (total reward) on SOLARR will be rewarded to the voters with the right option (the winners). Each winner will split the total reward proportionally according to your voted power (the amount of SLCR you have voted for).
ALPHA Project & Community Details:
ALPHA is a NFT Collection sample name for demonstrating the example under SOLARR Vote-To-Earn for Genesis NFT Collection.
Max. Supply: 5,000 NFTs | No. of Listing Spots: 5,000 NFTs | Selling Price: 1 ETH
Total No. of ALPHA Community Members: 70,000 (Updated on 1 March 202X)
More Project Details: (Link)
Voting Options:
Less than 1,000 NFTs could be sold
1,001 to 2,000 NFTs could be sold
2,001 to 3,000 NFTs could be sold
3,001 to 4,000 NFTs could be sold
4,001 to 5,000 NFTs could be sold
By holding SLCR as voting power according to the vote-to-earn mechanism, you could select one of the above options to vote before the ALPHA NFTs start selling on SOLARR.
End of Voting Period:
When the voting period ends, SLCR voted on each voting option would be revealed on the voting venue.
Example:
Less than 1,000 NFTs could be sold
50,000
1,001 to 2,000 NFTs could be sold
100,000
2,001 to 3,000 NFTs could be sold
20,000
3,001 to 4,000 NFTs could be sold
50,000
4,001 to 5,000 NFTs could be sold
80,000
If you are one of the voters in this proposal, you can just sit, wait for the result reveal and see if you are one of the winners and earn.
Results Reveal:
After the certain period of time as stated in the proposal (2 weeks in this example), ALPHA NFT selling data on SOLARR could be counted as the result.
*Please note that all data produced on SOLARR is recorded on-chain. SOLARR cannot adjust any data, ensuring the results for vote-to-earn are fair and could be verified.
Example:
After 2 weeks, 4,995 ALPHA NFTs have been sold on SOLARR. Hence, the voters who voted for [4,001 to 5,000 NFTs could be sold] are the winners for this proposal.
If you are one of the winners in this proposal, and you voted for 40,000 SLCR on the option, here is the calculation on how much you would earn:
Total ALPHA Selling Volume on SOLARR
4,995 ETH (1 ETH per ALPHA NFT)
Total Reward Pool for this Proposal
49.95 ETH (1% of total selling volume)
Your Voted Power on the Right Option
40,000 SLCR
Total Voted Power on the Right Option
80,000 SLCR
Your Proportion of Voted Power on the Right Option
0.5
Your Reward from this Proposal
24.975 ETH
*Your Reward from this Proposal = Your Proportion of Voted Power on the Right Option x Total Reward Pool
You will then receive the reward of this proposal from SOLARR to your wallet address that you voted on this proposal.
Last updated