Vote Delegation
Vote Delegation is a groundbreaking feature introduced in the Karate Combat app that allows users to delegate their voting power to individuals within the Karate Combat community.
Benefits of Vote Delegation:
Improved Results: Delegating your votes to players with a higher win percentage than yours can significantly boost your chances of winning more tokens when they vote on the event.
Increased Voting Strength: When you receive delegated voting power from other players, you'll be voting with increased strength, giving you a better chance to win bigger rewards. Additionally, you'll receive 20% from any winnings generated by the delegated voting power you receive.
How does it work?
Delegate Your Voting Power:
You can delegate one user to vote on your behalf in upcoming events, keeping your tokens secure in your wallet, since we are only using your voting power. For delegating your voting power, you need to cover the cost for that action in HBAR. The delegation remains active until you reclaim it back. Your delegate will have the authority to vote with your voting power, and if they win, they'll receive 20% of your reward. Transaction costs for claiming the rewards gained from the delegation period need to be covered by you. The delegation only works if you and the delegator play on the same blockchain.
Receive Voting Power and Become a Delegee:
If another user delegates their voting power to you, you automatically become their delegate. There's no limit to the number of users who can delegate their voting power to you. You can then vote with increased voting power in events. If you select the winning fighters, 20% of the win from their voting power will be added to your wallet after they claim their rewards. Claim transactions for the rewards gained by your votes for delegators are free for you.
Reclaim Voting Power:
You can reclaim your voting power at any time, but you'll need to cover the transaction cost. If there's an active voting window, you won't be able to vote since the event is based on a snapshot. You'll need to wait for the next event and next snapshot to vote with your reclaimed voting power.
Change Your Delegate:
To change the delegate, you need to reclaim voting power and then choose the next player you want to delegate to. Transaction fees need to be covered by you. If there's an active event, this change won't affect the app since the event is based on a snapshot. You'll need to wait for the next event and the next snapshot for the change to take effect.
When is the Best Time to Delegate or Reclaim Voting Power?
You have the opportunity to delegate and reclaim voting power at any time, but it is necessary to do it before the voting is open. The timer in the app shows how much time is left to do that.
Since the changes are tied to a snapshot, any adjustments made after the voting is open will not impact the ongoing event.
GAME:
Voting on Event:
Once the voting is open and a snapshot is created, each player can view the voting power information by clicking on the balance.
There are two types of voting power:
Yours - equals the amount of tokens you had in your wallet when the snapshot is created (If you delegated your voting power to a delegate, only they can use it for voting on the event)
Received - the voting power received by delegation from other users.
Total voting power is an accumulation of voting powers that you can use for voting on the event.
If there is more than one source of voting power, votes are divided using a formula in the background. This formula allocates votes based on a percentage of the total votes.
If you have voting power and you've placed your vote, you can track your picks throughout the entire event.
If you have an active delegation, the total amount of your delegated voting power will be visible in the gray delegation field above the Fight card, as well as your delegate's username.
Voting Closed and the Event is Live:
It is time to see possible wins and watch the event!
If you've placed a vote, you will see the possible win for the total allocated tokens, per fight.
If you haven't placed a vote but your delegate has placed a vote, you can see the fight card with the picks he or she made with your voting power and follow the event to see your results, as well as a possible win amount.
Claim Your Reward:
The event is finished! Time to claim the rewards!
If you place votes and win at least 1 token with voting power from your wallet, you can claim your reward and the transaction is free. However, if you receive delegated voting power and win a reward, a 20% commission from their winnings will be added to your account after they claim the reward.
If you haven't placed a vote but your delegate has placed a vote, you can see the fight card with your results and win amount. Claim transaction costs need to be covered by you, and 20% of the reward will be sent to the delegate automatically after you claim
Try delegation now and increase your chances of earning more tokens when your delegators vote on the event. Download the app today and join the action!