How to Participate in the Senatorial Campaign
Application form: http://senator.hx.cash
- 1. All candidates must agree with HX’s governance structure and governance philosophy;
- 2. All candidates must use their real legal name during the campaign;
- 3. All candidates must be capable of completing stated basic duties required from an individual in a Senator position in an efficient and effective manner.
- 4. All candidates must Support on-chain governance 24/7 (24/7 system up-time)
- Have in-depth technical knowledge of blockchain systems;
- Have an in-depth practical and theoretical understanding of the use of private keys.
Collateral deposit requirements
- Potential candidates will need to place a performance bond (also known as a collateral deposit) of 500,000 HC, to be able to participate in the senatorial campaign. A collateral deposit will be transferred into a Senator special contract address;
- The collateral deposit will become locked when a candidate is elected as a Senator, and will not be able to be withdrawn until a Senator officially steps down from their position;
- The initial stated collateral deposit is 500,000 HC. If the total amount of on-chain assets increase, an additional collateral deposit may be required. It is the duty of all Senators to decide whether or not additional collateral deposits are to be required.
Note* Collateral deposits can be obtained through crowdfunding, however, candidates wanting to do so must organise their own crowdfunding off-line.
The Election flowchart
The election process will mainly be conducted on-chain. Users may click the hyperlinks in this guide for a detailed step-by-step description.
Submission of application
Fill in the application form and prepare identity documents and other information as required, then send an application email to the HX Governance Committee, hence: “the Committee” (firstname.lastname@example.org) with relevant documents attached.
Identity information includes
- Your Name
- Telephone number
- Email address
- WeChat/WhatsApp/Line/Telegram account
- Account name (Register account)
Technical background information
- A description of the potential candidate’s blockchain project related operation and maintenance experience
- Their Senator node deployment plan
- Their operation and maintenance plan
- A Candidate’s technical resources, research and development capabilities
- A list of a Senator candidate’s team members
Operation and maintenance server minimum system requirements
- Windows 10 64-bit operating system
- Quad-core CPU, 8GB RAM, 200GB free disk space, and 10Mbps bandwidth
- Extended requirements to be determined (a team is required to build verification node)
- Senator users are very important to the stability of HX mainnet. Please do not use cloud hosting for node deployment or operation and maintenance.
Community governance requirements
- A candidates’ industry experience and reputation
- How much support can the candidate gain from the community?
- A list of the candidate’s additional resources
- A candidate’s economic strength regarding long-term operations
- Their ability to participate in community governance
After the HX Governance Committee approves a candidates’ application, the Committee will send them an invitation to participate in the senatorial election, and will additionally provide them with a contract address for their collateral deposit.
- The Committee’s official HX address is HXNLr4RK5R9cD1twrzX94hrGj5TWf9sL166Y (See: hxofficial)
- The Committee will transfer 0.001 HX from the hxofficial address to the candidate’s election account and will inform the candidate of the contract address in the transaction message (See: Application approved)
- The Committee will send an invitation to the candidate using their official email address (email@example.com)
Preparation for the election
Candidates will need to transfer their collateral deposit to the contract address. The Committee will publicise the candidate list on the official HX website. When the publicity period ends, campaign proposals can be formally launched by citizens.
Candidates will need to:
- Reply to the invitation email to confirm their election participation.
- Register an election account as a Senator candidate (See: Register Senator candidate)
- Transfer their collateral deposit to the contract address
Submit a proposal
Any Citizen can submit a proposal to formally nominate a Senator candidate. Citizens can vote among all proposals.
There are two methods Citizens can use to submit a proposal:
- Senator candidates can request any Citizen to submit a proposal for them;
- Senator candidates can also register Citizen accounts and submit proposals for themselves.
It costs at least 1000 HX to submit a campaign proposal (proposal fee).
On the 9th of February, it is possible that more than one Citizen will submit a proposal (each proposal can nominate up to 1 candidate), however, only one proposal will be valid for voting during the voting period (9–15 February), and the system will select the most appropriate proposal;
If more than one Citizen submits a proposal for a Senator, the Citizen with the highest proposal fee wins;
If Citizens have an equal proposal fee, the Citizen with the most pledged assets will win;
If Citizens have equal proposal fees and pledge weighting, the winner will then be based on which Citizen submitted the proposal first.
Therefore, when there is possible competition among Citizens, it is recommended that Citizens wait until the next election round, otherwise proposal fees will gradually increase, with no upper limit.
If at least 2/3 of Citizens’ (or the equivalent of which) total pledged weight vote for a Senator candidate, then that candidate will be successfully selected as the Senator. If not successfully selected, their collateral deposit will be returned.
- Citizens should pay attention to announcements regarding HX Senator elections and should ensure that they vote on time
- Voting can be completed via the HX Indicator (See: HX desktop wallet)
- Citizens should objectively make their own voting choices
- All campaign information will be announced on the official website
- All voting information can be viewed on the HX block explorer
The Committee will announce the campaign results on the official HX website and will also instruct elected Senators via email on how to complete their duties, operate, and maintain the HX mainnet. Training may be provided if necessary.
The Senator candidate’s campaign fails if any requirement is not met at any stage during the entire campaign. When a Senator candidate’s campaign fails, any HX tokens paid during the campaign (i.e. account registration fee or proposal fee) will be destroyed on-chain and will not be returned; the collateral deposit will be unlocked in 14 days and the candidate can transfer funds back to themselves. In addition, when a Senator steps down (i.e. replaced by a new Senator), they can withdraw their collateral deposit.