EOSIO Development and Dan's Gov Proposal
Part of Block.one’s mission is to lay a foundation for the mass adoption of blockchain technology and this week they contributed yet another piece to this puzzle. The EOSIO Quickstart Web IDE reduces barriers to entry for new developers so they can get started in minutes and start sharing and collaborating on EOSIO projects. EOSIO 2 introduces alpha support for EOSIO Quickstart Web IDE, a one-click web-based IDE that runs in a browser and is designed to radically simplify the developer experience.
After a four month break, Dan Larimer got active on his medium account last week and posted 2 new articles. His first article introduced the idea of long term staking pools. These different staking pools would have equal weight in terms of voting power and inflation redistribution but would require different staking periods, as indicated in his article:
Therefore, I propose the creation of 6 staking pools: 3 month, 6 month, 12 month, 2 year, 5 year, and 10 year. In a network with a token supply of 1B, each pool will receive 5M tokens per year on a minute by minute basis (assuming network is operating at 100% reliability). Users can buy into the pool to receive their pro-rata share of that pools income. A user’s vote-weight is based upon the sum of their percentage ownership of each pool. This represents a 3% annual inflation paid to the different staking pools.
To make the pool a bit more liquid, users can withdraw a certain % of their stake every week such as 0.2% per week in the 10 year pool and 7% per week in the 3 month pool. Dan’s second article, posted a few days later, addressed the situation where smart-contracts could be used to overcome artificial restrictions. It’s not the easiest article to understand but it explains how a “liquid staking solution” would be optimal in a system with liquidity pools as described in his first article.
Smart contracts should embrace freedom and avoid adding artificial limits, which can be trivially bypassed. It is possible to charge some fees, but only to the extent that the fee is more convenient than the workaround. Making staked positions liquid retains the incentive for long-term thinking of voters while increasing voter participation. Real-time market feedback on the long-term consequences of present day governance decisions is likely more powerful than making voters wait until the future arrives to realize their gains or losses. This leverages the wisdom of the crowds in punishing voters who mistakenly believe their actions will improve long term value by causing losses today rather than in the future after it is too late to correct.
In summary, Dan Larimer’s proposal aims to increase the amount of decentralization and security in the network by rewarding token-holders based on the duration of their staking commitment to the network.
We are also happy to report that the 1.8 feature “ONLY_BILL_FIRST_AUTHORIZER” has been approved by 15/21 Block Producers and activated on the EOS public network! Thank you to EOS LaoMao for proposing this MSIG along with all the other MSIGs related to the 1.8 Upgrade.
Wondering what this feature means for EOS? It allows dApps (or anyone!) to pay for CPU/NET for other users on the network. Aaron Cox from Greymass posted a solid Twitter thread full of creative ideas on how this feature could be utilized by users, dApps and exchanges! The team over at Karma went right to work, implemented the feature, and were ecstatic to announce that their dApp now pays for the CPU of their users!
EOS Community Conference Recap
The 2nd Annual EOS Community Conference has come and gone and the event was a great success!
Thanks to the EOSRio team for pulling off one of the more pro blockchain conferences we’ve ever been a part of. Top class! Great content but most of all, done with so much heart and excitement to show off this great city. Truly grateful to all of you! Also thanks to all the sponsors, EOS Nation / EOS Argentina / BOSCORE / NodeOne / eosDAC / EOS Cannon and supporting teams for recognizing the importance of in-person events. Can’t wait for the next time we get together! #reignitethemagic – Edgar, from EOS Costa Rica (also sponsors of the ECC!)
The week started off strong with EOS Nation’s COO Daniel Keyes presenting to the Rio Blockchain Conference audience and explaining why EOSIO is the ultimate dApp platform.
At the EOS Community Conference the following day, EOS Nation’s CEO Yves La Rose opened the conference by delivering a rousing speech about Reigniting the Magic in EOS. We then learned about some of the vibrant EOSIO projects live in South America as well, a lively panel as well as presentations about the BOS network. EOS Rio’s Igor discussed some of the technicalities involved in the BOS 3 Second LIB and Yves La Rose, Chairperson of the BOS Executive Team, went over several aspects of the BOS Ecosystem Program. You can catch all the talks on EOS Rio’s YouTube channel that contains a link to the day’s full livestream!
For the final 2 days of the EOS Community Conference, the community was invited to participate in an ‘unconference’ style of discussion. These discussions were not livestreamed but were recorded by EOS Rio and should be released in the near future. Stay tuned to future editions of the EOS Hot Sauce to hear our thoughts on many of the governance topics that have been debated in the last week.
Here is the full list of talks and panels that were livestreamed and are available online to be watched at any time:
- Opening Speech by Canellas
- Reigniting the Magic by Yves La Rose (EOS Nation)
- The State of Blockchain in LATAM by Alberto Guerrero (EOS Rio)
- Mutual Loan by Sebastian Valdecantos (EOS Argentina)
- Approaches to Stablecoins Panel with Matias Romeo (, Myles Snider (Greymass), Alex Melikhov (Equilibrium) and Jun Dam
- BOS 3 Second LIB by Igor Lins e Silva (EOS Rio)
- Zero Knowledge Proof by Sergio Yuhjtman (EOS Argentina)
- Ghostbustersx & Liberland by Michael Yeates (eosDAC)
- Travel Reimbursement Fund by Rob Konsdorf (EOS Detroit)
- Sense Chat by Autumn Penaloza (Sheos)
- EOS in a Box by Ami Heines
- EOS Rapid by Carter
- MYKEY by Bean (EOS Cannon)
- Special Announcement by Vahid Toosi (EOS Sw/eden)
- BOS Ecosystem Program by Yves La Rose (EOS Nation)
- EOS Foundation DAO by Luke Stokes (eosDAC)
- Governance Panel with Yves La Rose (EOS Nation), Canellas (EOS Rio), Van Kai (EOS Cannon), Luke Stokes (eosDAC)
Proxy4Nation and other EOS Tutorials
The whole team at EOS Nation is proud of all the innovation that we’ve been able to deploy through our Proxy4Nation smart-contracts. What started out as a simple proxy that required our stakers to manually claim rewards on a daily basis, quickly evolved into much more. Here are the features currently offered by Proxy4Nation:
- Signup for our proxy at proxy.eosnation.io
- Automatically receive your share of inflation redistribution in either EOS, DAPP or USDT tokens every 24 hours
- Customize your allocation of inflation redistribution (ie: 50% EOS, 50% USDT, 0% DAPP or any other combination)
- Choose to receive your EOS tokens staked or unstaked
- Receive bonus CPU staked to your account (not included in APR calculation)
- Receive receipts for each claim for easy tracking
Users interested in staking to Proxy4Nation and taking advantage of some of the options we offer can consult the step by step tutorial we published this week.
Speaking of tutorials, we’d like to highlight an initiative that EOS Nation Ambassador and dedicated community member Thierry Stoudmann has recently started. The EOS Tutorials Telegram channel is a place where community members can find a wide variety of EOSIO tutorials or share some that they have created themselves or found useful. Thierry compiles the tutorials and makes them available in an alphabetically sorted list for the benefit of the entire community. Thierry is also responsible for the french translation of EOS Hot Sauce! Thank you Thierry for all your contributions to the EOS community!
WAX is breaking down the barriers that have so far hindered a $50 billion industry from reaching it’s full potential. WAX will not only make it easier to trade digital goods but also much cheaper and faster. Are you ready to enter a new era of e-commerce? Visit go.wax.io/WAX
WAX has been doing the rounds, recently co-hosting meetups with a wide variety of organizations in cities across the world. This week was no different for the WAX team as they made sure EOSIO was properly represented at last week’s Los Angeles Blockchain Week. Both Malcolm CasSelle & William Quigley gave talks at the event on October 18th.
But WAX doesn’t just have a great live presence, they are also very active and producing great content for their community on a consistent basis. This makes it easy for us to include WAX every week in the EOS Hot Sauce, and we’re not just saying that because WAX Nation is a Top 21 Guild! This week, WAX published a quick overview about the WAX tokens and explained what you can do with them and why they’re valuable.
Wondering how WAX compares to EOS? Join WAX CEO William Quigley in the 2nd episode of WAX ON as he discusses some of the challenges faced on EOS and how WAX used some of those lessons learned to improve the user and developer experience.
We encourage our readers to head on over to the WAX Token Announcements page for all the latest WAX updates.
Ecosystem Updates: Scatter, Wombat and Everipedia
Scatter 12: Nebula Presentation
NSJames took to YouTube this week with an 18 minute presentation that dove deep into many of the new features and structures present in Scatter 12: Nebula. Scatter Embed, Scatter Extensions, RIDL, and Scatter Bridge are among the topics discussed in this presentation that will appeal to both dApp developers and Scatter users.
Wombat Wallet adds ability to purchase EOS
Wombat is excited to announce the ability for their users to purchase up to $250 of EOS per day, without KYC, directly through their wallet! Integrating Carbon’s FIAT on-ramp allows Wombat users from many countries to easily purchase EOS. Users from the US and China are currently excluded due to regulations in those countries.
Everipedia goes Mobile
In the most recent Everipedia Product Update, the team shared some of the new features and functionalities that were launched in the last month. Announcing their focus on a mobile-first experience, Everipedia now allows users to edit articles and vote directly from the mobile app. Improvements to the chat features, as well as adding emojis, will make the platform more engaging while the editor walkthrough helps new editors through the process of creating an article from scratch.
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.
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