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If I get accepted, I'll probably end up doing a ton of voting the first week and then slowly start doing less and less. Whats the incentive to invite and to vote?

Invites get 1% commission on the user's lifetime vote buys. Votes get a smaller percentage depending on how many there are.

Not bad at all. MB giving some nice reasons for people to invite and vote. What happens if a whitelisted user later becomes blacklisted? Is there any repercussions onto the voter and inviter?

You can lose votes and invites, but no financial repercussions.