You may have noticed the delegate list in the wallet GUI. This is the Lisk voting system used to vote for the people you feel will be the best ones to manage a Lisk node. It costs 1 lisk to vote for up to 33 people at one time. you may vote for up to 101 people per Lisk account, so it costs 4 lisk to vote for the top 101 forging nodes. Why those guys? Well, you can vote for anyone you like! But, with that said; if a delegate isn’t forging, he won’t be able to pay you. So, in order to maximize your payouts, you might want to vote the ones actually earning lisk, or you might want to vote up a buddy, or someone you feel is “worthy”, your choice.
*You only need do this voting process ONE TIME unless you actually want to change your votes.
The votes will stay until you remove them, which again, costs another 1 lisk for up to 33 votes in one transaction.
You will continue to earn from that account forever, for as long as it has a balance above 1 lisk, or until the delegates you voted for are all voted down out of forging.
Every delegate you vote for gets the full weight of that account as votes. On top of that still, it is forever-dynamic; meaning the moment you move any coin from that account, the equivelant voting weight is removed from every delegate you voted for.
With 10,000 Lisk, you give 0,01% weight to the delegate. (based on 100m lisk) The more votes a delegate gets the higher in rank he/she gets. Why vote? You get paid by delegates for your vote, so they may forge, and secure the network. With this they can fund Blockchain apps, or other things. So you can vote for the delegates you think are the best for Lisk infrastructure.
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It’s fully functional, secure, does not transmit your keys in any way. It transmits signed transactions to an https encrypted domain node.
Simply sign in with your passphrase and click on the delegate tab. All you need to do to vote is click the checkboxes next to the desired delegates, and go to the top right of the page, and click “Vote”, 33 at a time for 1 lisk. So, voting for all the top 101 guys to recieve their payouts will actually cost 4 lisk. It’s well worth it. Right now for instance, an address with 25k lisk returns well over 300 lisk per month.
Remember also the largest payout is from Lisk Elite Pool so be sure to go to liskelite.com and confirm your voting address.
Many delegate pools pay every week while others simply have a payout threshold.
Hope this helps… and of course, Please remember to vote for phoenix1969! Happy Lisking!
Lisk tip address: 8668463642800443353L