The time has come to cast your vote for the new collateral amount required to be eligible as a Cirrus Sidechain Masternode. As mentioned in our introduction to STRAX, we highlighted the addition of Dynamic Membership, which enables anyone to join the Cirrus Sidechain as a Masternode, providing they meet the defined criteria.
For those that have not been keeping up-to-date with the recent developments, in regards to the upcoming STRAX Blockchain; Cirrus Sidechain Masternodes will receive a share of 9 CIRRUS (equivalent to 9 STRAX) for every block produced on the STRAX Mainnet. To put that into context, every month, on average, Cirrus Sidechain Masternodes will receive a portion of over 525,000 STRAX split between all active participants.
Existing Masternodes will automatically vote in approval for those who meet the defined criteria, providing an environment that can grow without restriction or be manipulated by members not participating in voting in favour of those wishing to become a Masternode.
A vote, similar to that of the STRAX Token Proposal is now made possible by a newly released version of the Stratis Core Wallet. This version of the Stratis Core Wallet provides you with the ability to vote for a collateral amount that you want to be enforced by selecting your preferred amount, as seen below.
There are 5 options to select from, simply select the amount you wish to be determined as the collateral amount required to join the Cirrus Sidechain as a Masternode and click the Vote button. You can continue to perform the Token Swap after voting for your preferred option, swapped Token Balances will still count towards the voting weight. If your token balance changes for any reason other than participating in the Token Swap, your voting weight will be affected.
The voting period will last for one week and will conclude at the block closest to 5 PM GMT on the 30th October 2020. At that time, the weight of casted votes will be calculated to determine the chosen collateral amount defined for Dynamic Membership.
Be sure to cast your vote and have your say, every vote counts!