How to vote on HADAX and get refunded?
First of all, I'd like to state that this is a repost of the blog I wrote on www.medium.com [link for this post: https://medium.com/@raxan1987/how-to-vote-on-hadax-and-get-refunded-9af9b2b0f75]. So, this post does not amount to plagiarism.
First of all, if you don’t have a Huobi account, the best way to move forward is to create an account using the following link:
https://www.huobi.br.com/en-us/topic/invited/?invite_code=qgg23
The following section of this blog will walk you through how to vote for a token for it to get enlisted on HADAX and then get refunded.
Huobi and HADAX use HT (Huobi Token) as the core token. HT has one of the applications where a voting provision exists for enlisting of HADAX.
The process of voting using the HT and getting refunded involves the following steps after logging on the following site [https://www.hadax.com/vote/]:
A. Customers/users/voters first pay for the votes. However, this payment is not actual payment because they get
refunded without any preconditions. In mathematical terms, the cost of 1 vote is 0.1 HT. However, when the voting
ends, the winning projects refund the HT to the voters. The winner must do this before they are enlisted on HADAX.
B. If a voter has voted for a project that does not win, HADAX refunds it. So, the voters do not lose anything by voting.
C. Refunding is done within 3 days before the end of the voting. This is done because frequent voting and refunding
may impact the final results if payment is made much earlier. This is called "locking rule".
D. It is up to the projects (who take part in voting process to get enlisted on HADAX), to set up their own incentive
schemes/rules and distribute the incentives among the voters according to the proportion of voting done. For
example, if a project XX sets up a funding incentive of 5 million tokens and the total number of votes received is also 5
million, then the project XX will distribute 1 token to each voter. That way, incentive is either equal to or greater than
the number of votes casted.
E. Projects, for example the project XX as discussed in point D, sends the reward (or more precisely refund) tokens in a
total of four installments- first quarter of token [when XX gets enlisted on HADAX] followed by other quarters of tokens
each week until the refunding is exhausted.
F. Proof of being refunded? Voters simply receive an email saying that they have been refunded [An example of email
informing about the refunding is given below]:
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