EOS Hot Sauce is a weekly digest of all the hottest topics from around the EOSIO ecosystem. The space is evolving so rapidly it can be hard to keep up! We keep on top of it so you don’t have to.

B1 Proposals to Increase Economic Alignment on EOS

Block.one has recently released their proposal for stake-based voting and rewards, which aims to increase economic alignment between EOS participants. Block.one hired the Prysm Group to conduct economic analysis and the result was the publication of a 27-page whitepaper that brought forward three key recommendations::

  • Inflation increase
  • Removal of bpay
  • Network-wide penalties if block producers miss blocks

 

Inflation Increase

The Prysm Group recommended that the initial stake-based voting and rewards mechanism parameters be set so that system inflation falls within the range of 1.2% and 3.8% per year, after they considered a range of EOS economic activity growth scenarios from 2.4% to 5%. For reference, block producers rewards are currently set at 1% inflation. 

The report notes that inflation should be targeted to be lower than the economic activity growth on the network. For example, if the realized future economic growth rate is in the range of 2.4% for an extended period of time, then an initial token inflation rate of 3.5% should be adjusted downwards accordingly.

 

Block producer rewards – removal of bpay (block pay)

The existence of bpay for the top21 leads to a significant pay cliff between the #22 and #21 ranked block producers, despite the #22 block producer requiring the same level of infrastructure in order to be ready to be producing blocks should they reach the #21 spot. This pay cliff has led to a concentration of votes that exacerbates this reward gap. While the top 21 block producers have an estimated 56% of all votes, they currently earn an estimated 72% of all rewards issued per day.

To reduce this gap, Block.one proposes the removal of bpay rewards and instead proposes to distribute all the rewards through vpay. To help facilitate a healthy distribution of vpay rewards, all votes must also contain at least 21 block producer candidates.

 

Missed blocks causes lower total inflation in the system

Consistent block production is a cooperative effort that requires all block producers to work together. In order to further align this cooperative effort, Block.one suggests to temporarily reduce inflation given to block producers and stakers when any block producer fails to produce his scheduled blocks. 

For more information regarding the proposal, readers are encouraged to read the short summary published by Block.one or the 27-page whitepaper.

Eden OS Marches Forward & CCID Continues to Rank EOS #1

On a recent Telegram voice chat, the community was excited to learn that Dan Larimer is currently discussing with Block.one about potential collaborations and/or funding options for Eden. Dan also confirmed that development for Eden is progressing at a steady pace and the community is eagerly waiting to learn more in the coming days and weeks.

And finally, rounding out the EOS updates so far this week, the CCID published their 23rd Crypto Rankings and we’re proud to report that, once again, EOS is ranked #1. Go EOS!

.gems VR galleries and Set Completion Raffle

If you’re looking to win some amazing EOS NFTs & Packs then look no further than our upcoming Mega EOS NFT Raffle!  As we mentioned last week, collectors of various sets and subsets of our DreamBIG and GBK collections will be entered into a raffle that contains a bunch of great prizes, such as:

  • 16 EOS NFT Packs (DreamBIG & GBK)
  • 80 EOS Genesis Finney Coins
  • 8 Rare & Low Mint NFTs (DreamBIG & GBK)
  • 25 EOS Colored Coins

But this week we’re introducing even more ways to win! We’ve unveiled our DreamBIG & GBK (link coming soon!) VR Galleries in Cryptovoxels and are inviting all EOS NFT collectors to come check it out! While you’re there, look for gems that we’ve hidden in the showroom and you could earn additional entries for our raffle! Good luck to all the NFT collectors and hunters out there!

Crypto Finney FOMO!

We’ve been talking a lot about this amazing EOS & WAX NFT project and the hype & fomo has been real! Congratulations to the Crypto Finney team for quickly surging to the #1 spot on the all time volume charts for EOS NFT sales! Very well deserved accomplishment! 👏

In case you need a reminder, here are some important links filled with great information about this popular series:

WAX NFTs Keep Getting Better

WAX ON EARTH DAY

On the occasion of Earth Day onApril 22, WAX released a video on their YouTube channel addressing the supposed environmental degradation caused by NFTs. Through this video, WAX debunked the myth that creating NFTs involves a lot of energy consumption that contributes to environmental pollution. 

Apparently, the NFTs are not the culprit here but the blockchains on which these NFTs are minted. While Proof of work (PoW) consumes a lot of energy, Delegated Proof of Stake (DPoS) blockchains like WAX and EOS consume the least amount of energy and are considered environmentally friendly. This is one of the reasons why brands like Topps, Capcom, and Funko, who have a corporate commitment to respecting the environment, choose WAX as their preferred blockchains. Artists who care about the earth should also consider minting their NFTs on WAX or EOS. 

WAX ON EARTH DAY

On the occasion of Earth Day onApril 22, WAX released a video on their YouTube channel addressing the supposed environmental degradation caused by NFTs. Through this video, WAX debunked the myth that creating NFTs involves a lot of energy consumption that contributes to environmental pollution. 

Apparently, the NFTs are not the culprit here but the blockchains on which these NFTs are minted. While Proof of work (PoW) consumes a lot of energy, Delegated Proof of Stake (DPoS) blockchains like WAX and EOS consume the least amount of energy and are considered environmentally friendly. This is one of the reasons why brands like Topps, Capcom, and Funko, who have a corporate commitment to respecting the environment, choose WAX as their preferred blockchains. Artists who care about the earth should also consider minting their NFTs on WAX or EOS.  Watch the video.

ULTIMATE GUIDE FOR ARTISTS

The WAX team has published the ultimate guide to creating NFTs on WAX..

The article covers how to create a WAX Cloud Wallet account, how to create collections, how to develop a new schema (a series-like classification within the collection that serves as the layout for the NFT), how to upload the NFT media, and how to create NFTs on a large scale.  Read the full article.

RAREZ AND WEEZER

Weezer is the latest musical act to surf the NFT wave sweeping the music industry. And courtesy of Rarez, WAX is yet again the surfboard. The popular rock band is releasing 12 ultra-rare NFTs inspired by its most recent studio album on April 29. The Weezer “OK Crypto” NFT series will comprise 12 NFT toy designs, each representing a track on the album. Each will have different levels of rarity, including the ultra-rare gold NFT that can redeem the corresponding physical toy that inspired it. 

Weezer cited the environmental friendliness of WAX over the Ethereum blockchain as a reason why they chose WAX over Ethereum. Another reason was the astronomical gas fees on Ethereum, which could take the NFT series beyond the reach of a lot of fans. Read more.

MLB WAX V TOPSHOT COMPARISON

TheCheesman, a Digital artist on Twitter, posted a comparison between the WAX-based MLB Topps and the Flow-based NBA Topshot, in a bid to highlight which NFT project had the better alignment with the value of blockchain technology. Using criteria such as true decentralization, arbitrary regulations, and fairness, the comparison ended in a flawless victory for the WAX blockchain. 

Flow’s off-chain Random Number Generation compared to WAX’s on-chain RNG proved a major point, as there was really no proof of fair and random number generation on Flow. Furthermore, decentralized unboxing and IPFS image storage on WAX proved to be yet another reason to choose WAX over the Flow blockchain.

WAX also has a much larger market for its tokens, free trading between users, and easy withdrawal of funds for all, putting the comparison on blockchain fundamentals beyond doubt. 

Have something to say about it? Join the conversation here.

RECORD SALE

Just eight days after its launch, Topps MLB NFTs has recorded a new high for an NFT sale. A legendary exclusive #1 mint card of Sixto Sanchez of the Miami Marlins was sold for 75,000 WAXP, which was equivalent to $12,343 USD at the time of the sale.

That’s a lot of cash, but it’s normal in the world of NFTs for Legendary items to be sold for tens and even hundreds of thousands of dollars. The NFT trend has been on a steady rise over the past months as this new record may quickly be broken as more MBL NFTs are minted and traded. How long will it take for us to see a new record? You can share your thoughts in the comments.

CRYPTOSLAM

Speaking of Topps, you can now stay abreast of all the Topps NFT data on Cryptoslam.io. Cryptoslam is like a “CoinMarketCap for NFT products.” On Cryptoslam, NFT products are ranked by number of sales. Topps MLB currently sits at the third spot with over one million dollars in sales ($1,289,645.68 at the time of this writing).

Cryptoslam services include an NFT marketplace, collection rankings, mint data and so on. You can also get Topps numbers on the go, such as:

  • Daily Sales Volume
  • Daily Market Buyers
  • Daily Market Sellers
  • Daily Mints

You can access the Topps MLB interface on Cryptoslam.

R-PLANET LAND SALE

The second of the three known regions of the R-Planet, BoarVallis, is coming. R-Planet is an innovating NFT-staking system and game that allows WAX collectors to leverage their unused NFTs as mining instruments in R-Planet.

Following massive demand for land during the initial sale of the Swineland region, 5,000 plots of land in the BoarVallis region will be up for sale starting on April 29, 2021. Earlier owners of land are already mining their R-Planet minerals, and other players now have the chance to join up with them with the BoarVallis land sale. To ensure that the most active players are rewarded, the privilege to participate in the sale was granted to the most active players – those constantly playing the game, crafting, and inventing materials. The R-Planet team also reached a decision to make the pack limitations stricter than usual.  View the new requirements.

WAX DISCORD

The WAX Discord channel is a great new way to keep up with all the action in the WAX community.

On WAX Discord you can stay in touch with fellow NFT enthusiasts over text, video, and voice. You can get notified of latest announcements and giveaways, and you can even get support from the WAX team or just connect with them.  Join the WAX Discord community.

Womplay & Wombucks

Womplay is a gaming platform created by the Wombat team that enables users to earn crypto while playing traditional games.

Select a game and earning opportunity that fits your interest, download it through a special link, and retrieve “Wombucks” for completing missions.

Wombucks are points that could eventually be traded for EOS. 

Some of the games available on Womplay are classics, like: 

– Forge of Empire

– Elvenar

– Lords Mobile: Kingdom Wars

– Worlds of Warships

The games are available on both phone and PC, as well as both Android and iOS. You can register on Womplay with your Facebook, Google, Twitter, and Apple accounts.  Read more about Womplay.

DAPP Labs Initiative

DAPP Labs, an initiative of the DAPP Network created to fuel innovation, has already started delivering on its promise in its short time since launching recently. To this effect, DAPP Labs has announced the release of its Github organization. It includes repositories for Hyperlink, the first open-sourced code published by DAPP Labs, and EdgeOS, a new WebAssembly operating system for dApps.

The Hyperlink repository is home to the EdgeDSP and the EVM to EVM bridging framework. The EdgeDSP is a WebAssembly lightweight node that can be launched easily via a web browser. This node allows the compilation and execution of any arbitrary code, and can facilitate interoperability between blockchains. The EVM to EVM bridging framework basically allows an EVM blockchain to connect to any other EVM-based chain. This greatly facilitates interoperability with chains such as the Binance SmartChain, Matic, and Tron.

EdgeOS, or Edge 2.0, is the new and improved version of Hyperlink. Hyperlink’s kernel code was rewritten and upgraded to include a lot more features, which has consequently allowed the WASM-based EdgeOS for dApps to come into existence. EdgeOS makes sure that full dApps can be developed and launched, without having to rely on centralized infrastructure. In the official release, EdgeOS’ functionality was described such:

“With EdgeOS, any DAPP token holder can potentially spawn and provision any process on any node in the network, while maintaining compatibility with non-contract code. For example, a developer could run SQL, microservices, and many others Portable Operating System Interface (POSIX) compatible executables with EdgeOS.”

As mind-blowing as this is for the future of dApps, it’s even more impressive that EdgeOS apps are not limited to blockchain-related services. Talk about breaking barriers!

EOS Nation is a top Block Producer on the EOS public network. We earn inflation rewards based on the percentage of tokens staked towards us. Those rewards are reinvested into EOSIO community, tools, and infrastructure. Help grow the ecosystem by staking your vote to eosnationftw for BP or proxying to proxy4nation

Remember, we never accept compensation in exchange for featuring projects in the EOS Hot Sauce. That means if a project is included in the EOS Hot Sauce it’s because we believe that project brings value to the EOSIO ecosystem and we want our community to know about it!

Are you building an interesting project on EOSIO? We want to hear from you! Reach out to us on social media or email info@eosnation.io. 

Thank you for supporting EOS Nation and for reading this week’s edition of EOS Hot Sauce! Want more spicy updates? Check out some of our recent EOS Hot Sauce episodes!

Thank you for sharing the EOS Hot Sauce!

Share on facebook
Facebook
Share on twitter
Twitter
Share on telegram
Telegram
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Pour EOS Hot Sauce straight into your inbox

Subscribe to to the EOS Nation newsletter for weekly emails.

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: EOS Nation, CP 25086 BP Villeneuve, Montreal, QC, H2T 1R0, http://www.eosnation.io. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Disclaimer: The information provided above does not constitute investment advice, financial advice, trading advice, or any other type of advice whatsoever, and the information on our website should not be trusted as such. We present this information to you as general market commentary. The information does not constitute investment advice or any professional financial advice of any sort whatsoever. We do not advise or recommend that you buy, sell, or hold any cryptocurrency, digital token, ICO, or digital asset whatsoever. We advise users to conduct their own due diligence and consult with a qualified financial advisor before buying, selling, or holding any type of digital asset or cryptocurrency. We will not be held responsible for any investment decisions made based on the information provided on the website.

Daniel Keyes

Chief Operating Officer (COO)
Responsibilities include: product management, operations, community
Location: Toronto, Canada

Prior to founding the first EOS community in Toronto and co-founding EOS Nation, Daniel spent a decade in the financial technology industry working several diverse roles. His extensive experience in customer service, sales, sales coaching, agent training, digital marketing, digital process management (lean green belt), and product management (certified scrum master, certified product owner) eventually lead him to consulting for a blockchain dev shop.

Daniel earned a Bachelor of Journalism from Ryerson University in 2009 and worked as a chase producer intern at Global TV.

Daniel lives by the principles of Truth, Love, and Freedom.