Election of First Validator

Users get voting rights to vote for First Validator, namely VISION Power (VP). The number of VP depends on the pledged assets (VS) of voters, 1 VP = pledge 1 VS. After being released (unlocked), the corresponding VP will be lost, and both ongoing and future voting will be invalidated.
Vision Network only records the most recent vote, and the previous vote will be overwritten.Voting statistics are counted every 6 hours.First Validator and Validated Partners are also changed every 6 hours. The top 23 votes are First Validators, the rankings 24-123 are Validated Partners , aRanked 124 and 124 later are First Validator candidates.
According to the rules of the Vision Network, applying to become First Validator requires burning 900 VSs, in case malicious behavior happened.

Reward

Reward for First Validator: Vision Network generates a block every 3 seconds.Each block grants 0.12 VS to First Validator who produced the block.
When Vision Network generates a block, 23 First Validators and Validated Partners will share 0.6VS according to the voting ratio obtained. A total of 4,320 VS is awarded every 6 hours. The total reward amount for voting every year is approximately 6,307,200 VS. The voting rewards obtained by First Validator and Validated Partner are first deducted according to the commission ratio, and then distributed to the voters according to the voting ratio of the voters.
The vision network introduces the concept of economic cycle, calculates the inflation rate of the vision network in the next economic cycle by calculating the average pledge rate of the previous economic cycle, and is used to calculate the block reward, voting reward and promotion in the next economic cycle award. The following are represented by inflationRate (the inflation rate in the current economic cycle).
After First Validator completes the block generation, the reward will be credited to the sub-account in the hyperledger. First Validators can check the accout but cannot use the asset directly. Withdrawal is possible every 24 hours, and rewards are allowed to be transferred from the sub-account to the account of First Validator.

Reward calculation

Total reward = voting reward x (commission ratio) + block reward x (commission ratio)

First validator commission

The default ratio is 20%, and the other 80% is distributed to voters. First validator can modify the value through the interface.

Voting reward

Each block is given 0.6 VS as a voting reward.
Voting statistics are calculated every 6 hours.First Validator changes according to the voting results.
For all 123 First Validator candidates, a total of voting rewards per day:
（1 + inflationRate）x 0.2 (VS / block) x 7200 (block / election) x 4 (election / day) = （1 + inflationRate）x 17,280 (VS / day)
For each candidate, the daily voting reward = （1 + inflationRate）x 17,280 x (votes obtained by FV/total number of top 123 votes) x 20%

Due to possible block loss and maintenance period, Reward may be less than the theoretical number.

Block reward

FV generates blocks one by one, and the block reward is 0.12 VS for each block.
For all 23 first validators, a total of daily block rewards:
（1 + inflationRate）x 0.12 (VS / block) x 7200 (block / election) x 4 (election / day) = （1 + inflationRate）x 3456 (VS / day)
For each first validator, the daily block reward = （1 + inflationRate）x 3456 / 23 x 20% =（1 + inflationRate）x 30.05 VS

Voter rewards

Calculated based on the default commission rate of First Validator or super partner, 80% of the rewards are distributed to voters, and each vote corresponds to the reward every 6 hours = （1 + inflationRate）x 80% x 7200 (block/election) x 0.6 /total votes + （1 + inflationRate）x 80 % x 7200 (block/election) x 0.12/23 / FV votes). The total votes are the total votes of the top 123, and the FV votes are the votes obtained by First Validator. Therefore, each voter needs to know the commission rate of the First Validator, the total number of votes of the top 123 and the number of votes obtained by FV to calculate the reward. This data is open to everyone.

The reward mechanism for 23 first validators:

Voting reward:（1 + inflationRate）x 17,280 x 2.19% x 20% = （1 + inflationRate）x 75.685 VS
Block reward:（1 + inflationRate）x 3456 / 23 x 20% = （1 + inflationRate）x 30.05 VS
Total reward: （1 + inflationRate）x 75.685 + （1 + inflationRate）x 30.05 = （1 + inflationRate）x 105.735VS
The total amount of rewards obtained by this FV daily is （1 + inflationRate）x 105.735VS
The number of votes of the voters is votes, and the voter's reward for one day: （1 + inflationRate）x votes x 80% x 28800 (block/day) x (0.6/ total votes + 0.12/ 23 x (votes / FV votes))

The reward mechanism of Validated Partners ranked 24 to 123:

Voting reward: （1 + inflationRate）x 17,280 x 1.09% x 20% = （1 + inflationRate）x 37.67 VS
Block reward: 0 VS
Total reward: （1 + inflationRate）x 37.67 + 0 = （1 + inflationRate）x 37.67 VS
The total amount of rewards obtained by this FV per day is （1 + inflationRate）x 37.67 VS
Voters’ reward for one day: （1 + inflationRate）x votes x 80% x 28800 (blocks/day) x 0.6/ total votes
If you need to estimate the FV voting reward and FV ranking based on a specific voting amount, please use Vision Station voting reward tool to calculate.

Users can use the blockchain browser https://www.visionscan.org/ to obtain FV information.
The FV information is as follows:

Validator account address
The total number of votes received by Validators
Validator website URL
Validators the total number of blocks
Validators the total number of missed blocks