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.

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EOS Nation’s EOS Hot Sauce is also available in video and audio formats shortly after the article is published.

EOS Foundation to Fund the Ongoing Growth of the Ecosystem

A new EOS Foundation led by Yves La Rose and supported by Dan Larimer is being established with a mandate to fund the ongoing growth of the ecosystem. 

Yves shared this vision with the community in a Medium post on August 6th. Having recently resigned as EOS Nation’s CEO, the vision emerged over the past two months through conversations with EOS stakeholders including Dan Larimer, who published his support for the plan hours later.

“There is one individual who has consistently been leading the consensus building process on EOS, Yves La Rose, formerly of EOS Nation. […]

I believe that a temporary leader of the EOS community empowered by inflation and checked by transparency can help us navigate the complex decisions that need to be made to ensure the success of EOS.” – Dan Larimer

Yves will be asking block producers to increase the inflation on the network with an additional 2% in order to fund the EOS Foundation.

“At the onset, the EOS Foundation will request the legacy name and ram fees be placed under its stewardship, and on a periodical basis it will request transfers from the inflation savings account for ongoing operations.” – Yves La Rose

The response from the community was swift and overwhelmingly positive. For a recap of the excitement, watch the latest Everything EOS YouTube episode entitled “An EOS Foundation is Coming to Fuel the Growth of the EOS Ecosystem”. In this video, Zack Gall makes a passionate and persuasive case for why EOS needs such a foundation and how it could help revitalize the EOS community and ecosystem.

Accompanying Zach on this episode was Chris Barnes, one of the elected leaders of the Eden on EOS community, who asked some very pertinent questions about the details surrounding the EOS Foundation, how it would operate, and how Eden will play a role in all of it.

Chris has also published a written blog post that compiles his questions surrounding the EOS Foundation, as well as questions that have cropped up in various community discussions on the topic. 

Cryptowriter’s Sean Ballent also published a very raw blog post titled A New Dawn that offers a glimpse into the path that the Cryptowriter organisation has taken and the difficulties they’ve encountered due to the lack of available funding in the ecosystem.

Since the announcement last week,  Yves has been focused on talking to various key stakeholders, answering any questions they might have, and working towards reaching consensus.He has promised more formal public communications as more details are confirmed.

He offered some insights into how the EOS Foundation will be set up in a recent post on Telegram in the Everything EOS channel. The permission structure of the Foundation account will require a 36 hour delay for any action to be executed, allowing block producers to review all transactions and giving block producers the ability to intervene if they believe the transaction should be stopped.

Yves has also confirmed that an advisory council is in the process of getting set up and will advise on grant recipients, project sponsorships, and overall direction of the Foundation.

Overall, we think this is a great opportunity to adequately fund the EOS ecosystem, retain our developers, and attract new ones to build on the EOS Mainnet. GO EOS!

Farming Juicy Pomelo NFTs

It’s time to start harvesting Juicy Pomelo NFTs from those Pomelo Trees!

If you’re a fan of the Hot Sauce, you’ve probably noticed our Pomelo NFT promotion designed to educate and entertain supporters about the magic of quadratic funding. Over the last few weeks, Pomelo supporters have purchased our Pomelo ingredients (now sold out!) and blended them together to form a Pomelo Tree NFT. All proceeds from these sales will be donated as matching funds in the first funding round of Pomelo later this year. Since we sold out, that means we’ll be donating 1000 EOS!

But this is the week when the fun really starts. Starting at 16:00 UTC on Saturday August 14th, users holding Pomelo Trees in their EOS account will start to accumulate some Juicy Pomelo NFT yield! Collect 4 Pomelos and blend them along with your tree into a Golden Pomelo that can be displayed as a trophy in your Pomelo profile!

The Juicy Pomelo NFT mining period will last 4 weeks and users who hold 1 Pomelo Tree for the duration of the start of the mining period are guaranteed to yield at least 4 Juicy Pomelos by the end of the mining period. Holding more Pomelo Trees in your account will allow you to claim more Juicy Pomelo yield.

But you’ll need to prove your uniqueness before you can harvest your Pomelo NFTs. That’s where our new onboarding solution comes in. Designed to help onboard new users with as little friction as possible, it’s so easy even your grandma can use it! Login with social media or create an account using a username and password. Boom – you’re in!

Starting this week, we’re inviting users to help us test out some basic features: sign in, connect your EOS account to it, and claim your Juicy Pomelo NFTs.

Before the first round of Pomelo funding later this year, we’ll be implementing more anti-sybil resistance features to support the quadratic funding aspect of the Pomelo platform. Rather than requiring KYC, users can increase their trust score by linking multiple social media accounts. The higher your trust score, the more your Pomelo contributions are matched. 

Eventually, this single sign-on account will be used across many of our different products and is already being used by our dfuse customers. 

The Golden Pomelo blending recipe will go live in 2 weeks and will require 4 Juicy Pomelos and 1 Pomelo Tree as the blending recipe. The Golden Pomelo can then be converted into a non-transferable Golden Pomelo Badge NFT which will be displayed in your Pomelo profile later this year. Get ready and claim your Juicy Pomelos now!

Chintai's Private Beta Program is Live

Chintai’s private beta program went live on July 31, and its institutional partners have been able to get a taste of the platform’s services.

The platform acts as a digital assets wormhole, serving as a host of third party services like digital assets issuance, custody, and secondary trading. That enables Chintai partners to do cool stuff like tokenize traditional assets in a ready-made environment. This is made possible using blockchain technology, eliminating a bulk of administrative expenses that come with managing traditional financial assets. The Chintai platform is a high-performance, fully customizable, white label, all-in-one solution for financial institutions that want to test their digital asset products.

The Beta Program has so far been widely praised by participating investment banks and asset managers.

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!

Merijn Kavelaars

The .gems team is proud to introduce Merijn Kavelaars as their next featured artist dropping on EOS soon. Merijn is an internationally celebrated artist from the Netherlands, known for his unique artistic language, action-loaded murals and colourful paintings. He won the Stolichnaya art contest and his physical works are in private collections all over the

Read More »

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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.