There are a number of related questions in your post so I’ve “bundled” them together to provide some insights. Please note that all of the details are in our public blog posts; more detailed workings will be described with the advent of Genesis.
- Do you only receive rewards if you actually vote?
- Is the reward for locking ICP dependent on the number of proposals to vote on?
- if there are more/less proposals, how does this affect your reward?
- What is the relationship between your “votes” and your “rewards”. You seem to be using them interchangeably.
- Is this fluctuation in rewards/votes vary on top of the amount of time ICP is locked for?
- What variables impact this fluctuation?
The NNS tracks your neuron’s participation in votes, and rewards you with a pro-rata share of that maximum reward. So rewards are proportional to overall votes. If a Neuron does not vote, then there are no rewards.
There are other factors that affect your reward “power”. When you create a neuron, its voting power starts off by being proportional to the number of ICP tokens locked inside.
For example, all things being equal, a neuron that locks up 200 tokens will have twice the voting power, and receive twice the rewards for voting, as a neuron that locks up 100 tokens.
The longer the dissolve delay you set, the greater your neuron’s voting power and the greater the voting rewards you will receive, because this encourages you to vote with a longer-term view on driving the success of the network.
In order for your neuron to participate in voting, the current dissolve delay must be set at between six months and eight years.
The final way neurons increase their voting power and voting rewards is by growing older. The age of a neuron is the time that has elapsed since it was last placed in dissolve mode.
The NNS’s payment of voting rewards to neuron holders is inflationary.
- Or do you receive rewards even if you don’t vote, as long as the ICP is “locked”?
- If you don’t vote at all, but the ICP is locked, do you receive fewer rewards or any rewards compared to if you vote?
If the Neurons do not vote, they will not receive rewards.
- Will you be able to delegate your votes?
Your neurons will be able to “follow” other neurons and as a result, your neurons will vote the way the followed neurons voted. " For example, I will probably follow Dan Boneh and Jan Camenisch for all cryptography-related proposals (yes, proposals will have Proposal Types).
- What if there are no proposals to vote on, do you not receive any rewards?
Proposal to the NNS relate to the management of the Internet Computer’s underlying network, such as pushing upgrades and fixes to node machines, and creating subnets to scale out capacity. There are dozens of code commits per day to the Internet Computer repos, so it’s safe to say that there will be a constant stream of proposals as the development teams continue to add features to the IC, not to mention any community proposals.
- Is the reward that you get from locking your ICP in the form of more ICP?
- or is some other token the reward for locking and voting with your ICP?
Neurons reward come in the form of more ICP.
- Do the rewards unlock gradually over time or only at the end of the period you’ve chosen to lock up your ICP?
- Will locking and voting with ICP be available immediately after genesis or will that only be available for ICP holders later on?
Stay tuned for more details here.