Voting

Star tokens of individual sports stars will allow their holders to vote on various decisions related to that star. They can range from votes related to appearance at events or games, personal slogans, training music and various similar choices to social media presence, like special videos, challenges, fan interaction. On some special occasions, fans will be able to decide on the game partners of sports stars.

While Lympo aims to design various voting systems to find the best solution working for token holders and sports stars, the first version of the star token platform will include the following model:

Every vote will have a special reward pool attached to it. This reward pool could include star tokens of the same athlete, other star tokens, Lympo ecosystem and/or partner tokens. The exact number of reward tokens will be communicated before the vote, so that everyone participating can evaluate the potential rewards. For the duration of the vote, the tokens used to enter the vote will be locked, similarly to participating in yield farming.

The maximum number of wallets and the maximum number of tokens that can be staked to participate in every voting will be determined before the vote.

After the end of the vote, a part of the reward pool will be distributed to every participant in that vote. Another part will be distributed to those wallets which voted for the most popular outcome of the vote, i.e. for the winning proposal.

This system will allow for fans holding smaller amounts of tokens to participate and will prevent big holders from always deciding on the outcome. The limited amount of voting slots will incentivise token holders to keep engaged with the platform to follow the latest news and voting opportunities. Finally, it aims to incentivize community building and discussions between community members.

It is important to note that this model might be adapted in the future for the best user experience of the star token platform users.