The Fuzzy Threshold Voting System for Cryptocurrency Governance

We introduce a mathematical model for a voting system called fuzzy threshold voting (FTV) intended for use primarily in cryptocurrency governance systems. The main difference between this voting model and approval voting is that the voting outcome depends not only on the scores of candidates but also on other factors—budgets of the corresponding projects (actually, projects are the candidates). The proposed FTV voting model is considered to be some generalization of the yes-no voting model with expanded features. In addition to building an adequate mathematical model for the new voting system, we also analyze its main properties, such as the optimality (in some sense) of the voting procedure, existence of admissible strategies, advantages of sincere voting, and necessity of secret voting. We demonstrate that the presented FTV system satisfies one of the most important properties of the voting systems—the monotone rule, and prove several statements regarding possible voting strategies.