Super Representative
Block producers in the Pollux network also referred to as super representatives, are elected by voting. Any account can apply to become a super representative candidate by paying 9999 POX and then participating in the super representative election. Any account can vote for super representative candidates, and the top 27 candidates with the most votes become super representatives. Super representatives need to run a Pollux node to participate in block production and will also receive block rewards and voting rewards. Voters who vote for super representatives will receive voting rewards.
The super representative candidates ranked 28th to 127th are also called super representative partners. Super representative partners do not participate in block production and packaging transactions, but they will receive voting rewards. Voters who vote for super representative partners will also receive voting rewards.
Voting Right
Before participating in the super representative voting process, every account must acquire voting rights, known as Pollux Power (PP). These voting rights are obtained by staking POX. Beyond securing bandwidth or energy, staking POX concurrently provides voting rights. For each staked 1 POX, the account receives 1 PP.
Upon unstaking the staked POX, the corresponding amount of PP is deducted, rendering ongoing votes invalid. The voting system operates on a 6-hour cycle, with super representatives and super representative partners changing every 6 hours. In case an account casts multiple votes before the vote counting, the Pollux network registers only the latest vote, overwriting any previous votes.
Rewards
In the Pollux network, the production of each block results in a reward of a specific amount of POX for both the super representative and super representative partners. This reward is divided into two distinct parts:
Block Reward: For every block produced, the Pollux network grants 0.05 POX to the super representative responsible for its production. The super representative then allocates the remaining portion to voters based on their voting ratio, after deducting the commission ratio.
Vote Reward: Each block's production triggers a reward of 0.15 POX from the Pollux network, distributed among super representatives and super representative partners in proportion to their votes. The voting rewards acquired by these entities are further distributed to voters based on their voting ratio, minus the applicable commission.
Super Representative Brokerage
The brokerage ratio serves as a deduction percentage applied to rewards received by both super representatives and super representative partners. The default ratio stands at 20%, meaning that 20% of all rewards generated through voter voting is allocated as commission compensation to super representatives or super representative partners. Users in these roles have the capability to check the current brokerage ratio via the wallet/getBrokerage interface. Additionally, they possess the authority to adjust the brokerage ratio through the wallet/update brokerage interface.
Block Reward Calculation
For each block they successfully produce, Super Representatives in the Pollux network are entitled to receive 0.05 POX. Given that the Pollux network generates a block every 3 seconds, the total daily block generation amounts to 1440 POX. With 27 super representatives taking turns to produce blocks and assuming a brokerage ratio of 20%, each super representative's daily block reward equates to 53.33 POX. The calculation formula is expressed as follows:
The rewards for super representative voters for one day are:
Vote Reward Calculation
In the Pollux network, a voting reward of 0.15 POX is generated for each block's production, resulting in a daily total of 4320 POX. If we assume a brokerage rate of 20% for a Super Representative (SR) or a Super Representative Partner (SRP), the voting reward that an SR or SRP receives for one day is:
The voting rewards for the voters of super representative and super representative partner for one day are:
Committee And Proposal
The Pollux committee comprises the current 27 super representatives entrusted with overseeing and adjusting dynamic parameters within the Pollux network. These parameters include block rewards, transaction fees, and other crucial aspects. While every super representative, super representative partner, and super representative candidate holds the right to propose modifications to Pollux network parameters, only super representatives are eligible to cast votes.
Proposals within this system operate on a binary voting mechanism, where a "yes" vote signifies agreement with the proposal. In contrast, the absence of a vote from super representatives indicates disagreement. Proposals remain valid for three days from their creation. Throughout this period, super representatives can either vote on the proposal or retract their previous vote. To pass, a proposal must secure 18 or more super representative votes during its validity period. If, by the expiration date, the proposal lacks sufficient votes, it becomes invalid.
Pollux Network Parameters
The dynamic parameters that the Pollux network can modify through proposals are as follows:
| Number | Parameter | Current Value |
|---|---|---|
#0 | Propose to modify the maintenance interval of SR | 6 Hour |
#1 | Propose to modify the cost of applying for an SR account | 9999 POX |
#2 | Propose to modify the account creation fee | 0.025 POX |
#3 | Propose to modify the fee of 1 unit of Bandwidth | 0.001 POX |
#4 | Propose to modify asset issuance fee | 1024 POX |
#5 | Propose to modify SR block generation reward | 1 POX |
#6 | Propose to modify the rewards given to the top 27 SRs and the following 100 partners | 115200 POX |
#7 | Propose to modify the cost of account creation in the system contract | 0 POX |
#9 | Propose to activate the Virtual Machine (VM) | Activated |
#10 | Propose to remove the GR Genesis votes | Finished |
#11 | Propose to modify the fee of 1 unit of Energy | 1 POX |
#12 | Propose to modify the cost of trading pair creation | 1024 POX |
#13 | Propose to modify the maximum execution time of one transaction | 80 ms |
#14 | Propose to allow duplicate account name | Not allowed |
#15 | Propose to allow duplicate token name | Allowed |
#16 | Propose to allow resource delegation | Allowed |
#18 | Propose to allow the PRC-10 token transfer in smart contracts | Allowed |
#19 | Propose to modify the total Energy limit | 6000000000 ENERGY |
#20 | Propose to allow the initiation of multi-signature | Allowed |
#21 | Propose to allow adaptive adjustment for total Energy | Not allowed |
#22 | Propose to modify the fee for updating account permission | 100 POX |
#23 | Propose to modify the fee for updating multi-signature | 1 POX |
#24 | Propose to enable protocol optimization | Not activated |
#26 | Propose to support Constantinople Upgrade for PVM | Allowed |
#29 | Propose to modify the adaptive Energy limit | 1000 |
#30 | Propose to support the decentralized vote dividend | Activated |
#31 | Propose to modify the block voting rewards given to the top 27 SRs and the following 100 partner | 0.5 POX |
#32 | Propose to allow PVM to support Solidity 0.5.9 | Allowed |
#33 | Propose to modify the adaptive Energy limit target | 10 |
#35 | Propose to ban transferring POX to smart contracts via TransferContract or TransferAssetContract | Not ban |
#39 | Propose to enable the function of verifying zero-knowledge proof in PVM | Activated |
#40 | Propose to enable PBFT consensus | Not activated |
#41 | Propose to enable PVM Istanbul instruction | activated |
#44 | Propose to allow enabling DEX | Not allowed |
#45 | Propose to modify fees for creating orders on DEX | 0 POX |
#46 | Propose to modify fees for canceling orders on DEX | 0 POX |
#47 | Proposal to modify the upper limit of the fee of a smart contract | 15000 POX |
#48 | Proposal to open reward pool for transaction fee | Not activated |
#49 | Proposal to optimize black hole accounts | Activated |
#51 | Propose to enable the new resource model | Not activated |
#52 | Propose to enable the function to stake/unstake balance in virtual machine contracts | Not activated |
#53 | Propose to enable the optimization of account assets | Not activated |
#59 | Propose to enable PVM contract voting | Activated |
#60 | Propose to initiate EVM-compatible mode for PVM | Not activated |
#61 | Propose to modify the upper limit of free Bandwidth for each account | 600 Bandwidth |
#62 | Propose to modify the upper limit of total Bandwidth frozen | 100000000 Bandwidth |
#63 | Propose to support London Upgrade for PVM | Activated |
#65 | Propose to allow raising the maximum of MaxCpuTimeOfOneTx net parameters to 400 | Activated |
#66 | Propose to enable account asset optimization | Activated |
#67 | Propose to open a new reward algorithm | Activated |
#68 | Propose to modify the memo charges | 1 POX |
#69 | Propose to open the proxy storage optimization | Activated |
#70 | Propose to enable the new staking mechanism that allows specifying the lock-up days of staked assets | 1 POX |
#71 | Propose to allow optimizing the return value of the chainid command | Activated |
#72 | Propose to allow enabling the dynamic energy model | Activated |
#73 | Propose to modify the threshold of the dynamic energy model | 3000000000 |
#74 | Propose to modify the increase factor (in basis points) of the dynamic energy model | 2000 |
#75 | Propose to modify the maximum increase factor (in basis points) of the dynamic energy model | 12000 |
#76 | Propose to allow PVM to support Shanghai upgrade | 1 |
#77 | Propose to allow cancellation of all unstakings | 1 |
#78 | Propose to allow optimization of delegating resource lock and set the maximum lock period (number of blocks) | 864000 |
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