Power Voting is an on-chain voting tool developed for the Filecoin community to enable secure, transparent, and inclusive decision-making. It facilitates voting on Filecoin Improvement Proposals (FIPs) and other critical governance issues, reflecting the diverse contributions of community members.
Voting power is calculated using a proportional schema across four major community categories:
● Storage Providers: Weighted by Raw Byte Power (RBP)
● Network Clients: Weighted by Deal Bytes.
● Tokenholders: Weighted by FIL holdings.
● Developers: Weighted by GitHub contributions, including merged commits in core repositories.
Snapshots of these metrics are taken within a specific period (60 days) before the vote.
When creating a proposal, the creator will enter a voting expiration time, and Power Voting dApp will store the proposal content and voting expiration time together on the blockchain. When user votes on a proposal, Power Voting dApp will call Drand Timelock API to encrypt user's voting data and store the encrypt data into contract, the encrypt data won't be decrypt until the proposal expiration time. When proposal expiration time reached, Power Voting dApp will call Drand Timelock API to decrypt user's voting data to count the proposal. Power Voting dApp will lock all users' voting content and not allow anyone to query voting content until voting expiration time, to make sure no one can know the voting information of other members before voting expiration time reaches.