EOSCommunity.org Forums

Network revenue generation events

EOS
#1

I think this is a topic we should dive in and explore as a community. With funding being one of the hot topics (for WPS, Staking Pools, development, etc), it’s important that we explore opportunities that the network has to actually fund itself through economic activity.

Much of the focus today is on either external entities as funding sources or utilizing inflation. So to think outside of that box, let’s think about how it could generate extra funding itself, through systems we can implement.

We have a few of these already, such as:

  • RAM buy/sell: A fee attached to sales of RAM.
  • Premium Name: A continuous auction of short names.
  • REX rental: Users pay the system to rent CPU/NET
  • PowerUp: Users pay the system to rent CPU/NET

Each of these is an individual revenue generator and they exist today. The users of the network are paying tokens into these system for various forms of utility/vanity because it has value to them. Currently these funds are channeled to the accounts who have their tokens swapped into REX.

If we could come up with additional systems to implement, new revenue could be generated and distributed to token holders (like we do currently) as well as REX holders.

So, what else can the network do to generate revenue?

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#2

I’ll toss the first one out: premium tokens.

It’s an idea I’d like to see explored more and I believe has a bit done on it already. The idea is we either upgrade the eosio.token contract (the one that powers EOS) or deploy a new system contract that allows an easy path to create tokens.

The name of the tokens themselves could be auctioned (like premium names) or sold in some other way. Users who wanted to create their own token wouldn’t need to deploy a contract, they would pay a fee to this system contract and their token would just exist.

I’m sure there are some pros/cons to this approach, but to get the ball rolling on other ways the network itself could generate extra funding sources, I figured I’d pitch it.

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#3

You read my mind. I’ve wanted this since eos was launched.

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#4

Interesting option… it’s early days yet, but I might have few ideas in 3-6 mos.

Added this topic to the Discussion Items forum for our weekly audio chats.

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#5

Hi guys, I got a question. If someone own an EOS account without CPU/NET resources, how could this user borrows resources from POWERUP. So, how about using a public welfare account to pay the consumption in the rental process (B1 holds a lot of EOS, maybe it’s their duty), of course the contract accounts should be banned to prevent the resources in public welfare account being used by speculators. This method could be helpful to attract more users and more users means more funding.

What have been mentioned above just representing my personal immature ideas.

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#6

And spitting the current revenues that go into REX?
Lets say 10% goes to a WPS account instead into REX?

1 Like
#7

It’s an option, but what’s being discussed here is just adding new systems that generate revenue. IMHO it’d be a lot easier to create a new revenue stream and put into WPS than taking away from REX.

3 Likes
#8

Depending on the ‘ethos’ of the group, a mining team could be put together. Takes funds brought in and builds algos to earn returns before the capital is needed to be paid out or deployed.

A foundation treasury team. One easy ‘trade’ would be to take X% of eos donations/revenues and put it into BTC. Helps diversify.

I know this is a speculative endeavor, but with the right team in place I think positive returns could be made, which if compounded over time could be a form of revenue generation greater than any one idea presented ie, premium tokens.

1 Like
#9

This is a good idea, token creation is probably 90% of blockchain’s smart contract and having an easy way to do it will make EOS attractive (simple tx with a memo), it can also generate revenue for independent development.

The Premium Name bid could also be used, I wouldn’t touch REX or PowerUp model as they have been widely advertised as a way end users can obtain passive revenue.

2 Likes
#10

I think we need a treasury function for sure and to start an endowment from day 1 in order to grow our own revenue over time.

1 Like
#11

I’d like us to consider building some businesses that can tick a lot of our boxes simultaneously. In my opinion, a crowdfunding platform contributes to a lot of our goals:

  • Provides access to early stage funding for app/business development
  • Would attract attention from the entire ecosystem
  • Generates ongoing revenue for the Foundation
  • Uses the eosio software in a meaningful way(great example use case)
  • If successful it would provide considerable demand for eos main net resources over time.
  • It would create jobs for community members

This is easier to do than one might think. Especially in the current regulatory climate in the US and Europe at least. We could have the Reg CF license in 2 months. The Foundation could easily spin off an entity to manage this project in order to manage risk/reduce liability.

Bitfinex just open sourced their DEX software. We could run a non-custodial DEX and collect the fees as an ongoing funding resource. I also think a tool so that individuals can conduct safe peer-to-peer/OTC trades would be fairly easy to create and could generate a flat fee to use(percentage is more problematic and would require more compliance infrastructure).

This is a little more out there, but I’d be willing to offer myself as a consultant on behalf of the Foundation and donate a solid portion of the earned fees to the Foundation. I bet several of us would be willing to do that. It would create some nice exposure for the community and eosio as well. A Foundation consulting team and/or technical support team could potentially do quite well with a little marketing.

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#12

I like this very much. In addition to a normal DEX, one could well collect fees from NFT trades.

1 Like
#13

Agree this idea is ‘out there,’ but I’ve always been a fan of this idea. Securities regs won’t be easy though. Specifically on the kyc/aml front. That doesn’t seem to mesh well with blockchain so far.

#14

The residuals on NFTs and fees on NFT trades is an interesting idea. I wonder if the system itself could operate a standardized NFT contract, where a small portion of each NFT mint, trade, etc acts as a revenue generator (like namebids, rex, etc) for the network.

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#15

This crosses a regulatory line that we don’t want.

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#16

so you did that? or just hope to do that?

#17

I stated this before I realized we’re not looking to incorporate an official entity right away.

#18

Before you want to earn money from users through the EOS system network, you should first consider why some one should use the EOS system.

#19

I may have made a mistake. I found that the consumption in the process of renting is actually deducted from the renter’s resources after the lease is completed. So, please forgive me for my carelessness, practice makes true knowledge.

1 Like
#20

Lot’s of things to do right now, and soon there will be plenty more.

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