Lightcoinex will establish its first Exclusive Board in May 2020, changing from fund governance to board governance. In order to further achieve the community autonomy, Lightcoinex hereby decide to launch Voting for the Coin Listing program and extend voting authority to all users.
I.Voting for Listing Projects
Lightcoinex will choose a certain number of high-quality projects from all projects applied on our official website, and come up with a shortlist of projects for voting.
7*24 hours per round.
III. Voting Rules
Total votes = Free user votes + Board votes + Project side traffic votes + Lightcoinex incentive votes
1.Free user votes
1) For each voting round, users can select multiple projects to vote, without any limit on voting numbers;
2) Each user’s vote will cost 1 LCT (1 user’s vote =1 LCT). If a project you voted for wins, your LCT will be returned to your account before the project is listed. For the projects that fail to win, you may choose to revoke your votes or to keep your votes until the project wins in the next round and your LCT could also be returned before the listing of such a project.
3) You can revoke your votes personally 72 hours before the end of the vote, and your LCT will be returned automatically. Please be aware that you are not able to revoke your votes within 72 hours from the end of the vote;
4) The project party may set up a voting incentive by itself and the users who vote for the project can share the voting incentive by the amount of votes after the project is listed. Board votes and Incentive votes are not included. For example: Project A may set up an incentive of 10 million tokens, and the total votes are 10 million, accordingly, their voters can receive 1 token per vote as an incentive. During the voting process, the project party can adjust the voting incentive, but only higher incentive is allowed, lower incentive is not allowed.
2. Board votes
Lightcoinex introduces various professional investment institutions in the industry to form Lightcoinex Executive Board (The Board), to help users identify high-quality projects, reduce the risk of investment, and give professional votes and evaluations to projects applying to be listed by voting.
1) Every project to be included in the Top 10 shortlist must be supported by at least 1 Board (This is a precondition but this is not counted in the public vote)
2) Each board member has 3 board votes, and 1 board vote equals to 3,000,000 user votes, and the Board can vote to one project exclusively or to multiple projects separately.
3. Project party traffic votes
In order to motivate the community to actively participate, Lightcoinex will open traffic votes for projects with a significant user base. Before the voting period, Lightcoinex will hold an offline roadshow for projects that have already participated voting for listing programs, providing a platform for the projects’ exposure and communication opportunities with potential investors. The project can invite community members to participate in the event which will be counted in proportion to the number of total votes. During the voting period, the votes from new registered users referred by the project party will be counted in proportion to the number of total votes.
1) 1 community member = 50,000 user votes (20 community members are upper limit);
2) The project party will have an exclusive user sign up link, and only the votes from new registered user signed up through this link can be counted;
3) 1 new user vote = 25 user votes
4. Lightcoinex incentive votes
1) Board vote incentive: The first 5 projects with board votes equivalent or more than 5,000,000 user votes will be offered CoinTiger incentive votes, of which the 1st place will be given additional 1,000,000 user votes, and the 2nd to 5th places will be given additional 500,000 user votes respectively;
2) Traffic vote incentive: The first 3 projects with at least 2,500,000 user votes will be given an additional 500,000 user votes as incentive.
1） Projects who win in the voting program is required to deposit 1,000,000 LCT as a security deposit;
2） When the project triggers the conditions of delisting (such as team disbandment, lawbreaking or violations, serious technical problems, lack of liquidity, the project side actively ask to be delisted from the market, etc.), the deposit will be used to compensate users;
3） For the winning project, the deposit will be returned to the project party in 12 months from the second month after it is listed on CoinTiger. For the project that fails to win the vote, the deposit will not be returned if it decides to participate in the next round of listing by voting, but will be fully returned if it decides not to participate in the next round of listing by voting;
4） The amount of the security deposit will be shown on the voting page.
The top 3 projects with the highest number of votes will win the project.