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The Eden Block Producer Initiative(overview)

To the Eden Community,

This is a public statement about the terms of the Eden Block Producer initiative that I’m coordinating to bring some initial revenue into the community treasury. Let this post serve as my official commitment to this project. If anything is to change in the future, I’ll be sure to update this post accordingly.

The EOS account associated with the Block producer is “edenproducer”.

The terms of the commitment to Eden are as follows:

  • 80% of any EOS earned by the Block Producer account will be transferred as a donation to the Eden community account “genesis.eden”.
    • The current leading Eden representative(Dan) has asked for the funds to be deposited to the genesis.eden account once per month in order to help reduce administrative overhead.
    • The targeted deposit date will be the 1st of every month, with a 3 business day grace period.
  • 20% of any EOS earned will be used to cover expenses to manage and operate the Block Producer node and any associated services.
    • 10% of EOS earned will go to Agenix, LLC which is solely owned and operated by Domenic Thomas.
      • These funds are meant to cover administrative costs, marketing, website, etc.
    • 10% of EOS earned will go to BlockTime, Inc. as per the terms of a service agreement between BlockTime and Agenix.
      • These funds are meant to cover costs incurred to run the block producer node and associated hardware/software infrastructure, plus 24/7 monitoring, etc.

The expected specifications for the Block producer node are as follows:

  • Initial deployment(Completed)updated post on 7.8.2021
    • A working BP and PEER on the EOS main net, fully functional, with lower end hardware and acting as a placeholder, but fully functional.
  • Paid Standby BP status achieved
    • A primary and secondary (Failover) BP and 2 PEER nodes, fully functional and ready to be an active Top21 BP.
  • Top 21 ranked BP achieved
    • A primary and secondary (Failover) BP and 2 PEER nodes, fully functional and active on high performance hardware.
      • The BlockTime team may require a grace period for the upgrades mentioned above and will only do the upgrades when stability is achieved, as uptime is most important, followed by performance.

If we are fortunate enough to end up ranked among the top 21 EOS Main Net Block Producers. We’ll not use any voting power without the full advisement and consent of the Eden community leadership.

Notes:

  • Please remember the purpose of this BP is to bring some initial revenue to the Eden treasury so those funds can be distributed by elected Eden representatives to add value to the EOS Main Net.
  • Once there are some funds collected by Agenix and BlockTime, we will begin building additional items such as an official website, etc.
  • I was already in the process of scheduling a time to invite the BlockTime owners to join Eden when this opportunity came about, so we made sure to do the official invite and video induction ceremony yesterday(7.6.2021). That way all parties directly involved in the project will be Eden members.

Also, we are wide open to advice on how to automate the process of claiming and sending the funds directly to the genesis.eden EOS account before taking any custody over the funds. However I was advised by some reputable sources with BP experience we shouldn’t be adding code to the rewards claim process, etc. as it could cause issues. So for now the process will be handled manually until a better solution is presented to us.

I’m grateful for your support and any votes you feel this initiative is worthy of. We figure everyone will essentially show their support or lack thereof by the number of votes we receive. If we don’t get enough votes to generate any revenue for Eden, we’ll wind down the project and move on. It’s certainly worth a try to get some more funding infused into the election process to see what the EdenOnEOS project is capable of.

Sincerely,

Domenic Thomas

21 Likes

Great move. We are bound for success here. This is yet another model for Eden applicability/test case. Very impressed.

5 Likes

Congrats and happy to be in Eden. The Eden BP like you describe is exactly what we need at this stage.

4 Likes

Thanks for taking the initiative to set this all up @domenicthomas ! I’m sure this hasn’t been a trivial undertaking. I hope any concerns being expressed in this thread are understood as a desire to think deeply about all the many dimensions of what this represents for the EdenOnEOS community given that it constitutes a major development in EOS and Eden network dynamics and carries with it many unknowns.

3 Likes

Great, such a strong force of action!

and @lovejoy reat idea of:
“Can Other Eden groups also start a BP and register? e.g. Chinese Eden BP or Indian Eden BP or Ukrainian Eden BP! (Assuming each organisation meets the minimum requirement to be an Eden)”

2 Likes

I fully support this. I remember seeing that B1 tweeted that they would vote 100% on an Eden block producer. If we could get that in (legit) writing, that would make this a guaranteed slam dunk.

So for now the process will be handled manually until a better solution is presented to us.

Not familiar with running a node, but if the rewards are just transferred to a normal account, can’t you just deploy a contract that listens for transfer and split up any amount that comes in? Again, unfamiliar with running a BP node.

1 Like

Eden process: helps with consensus building so that the community/organization can elect its leaders.

Eden on EOS uses the Eden process to elect leaders who will help direct funds to build projects to better the EOS community.

Eden Community: Ideal Goal is to fund itself without an outside source. If Eden manages to raise funds without an external source, then it would have to:

  • Invest in projects on EOS with the expectation of ROI to continue to have the finances for future investments.

If not, then Eden Community has to raise funds by possibly:

a. receiving donations from an external source.

b. Block producer matching.

c. B1 donation /matching Eden community funds.

This method allows all stakeholders to have skin in the game—one of Eden’s core values.

Some scenarios to consider:

Scenario 1: Eden community raises funds by memberships, NFT fees, or community members starting projects (for example, a proxy or Blockproducer infrastructure) that can donate its proceeds to the community/organization.

Scenario 2: Eden members who are independent block producers can also donate some proceeds to help fund Eden out of goodwill.

Scenario 3: EOS community BP’s can decide on matching Eden funds with inflation if they believe that the Eden community is a benefit to the EOS community

Of Note: The whole community/organization cannot run the Eden BP. Someone/group has to take the initiative to run the Eden BP/proxy with community support and engagement. After the associated cost, all proceeds are directed to the Eden community treasury. These funds will be distributed to build projects for the EOS community.

Questions that need to be discussed:

  1. Would it be ideal to have the Eden process used to elect BPs in the future?
  2. Would it be appropriate to have all 21 BPs as Eden members? Why and Why not?
  3. If most EOS token holders are Eden members? Would they be in alignment with the status quo of how BPs are elected?
  4. Are the EOS community in alignment with the status quo of how BPs are elected?
  5. What is wrong with having members of a trustless organization running a BP infrastructure and receiving additional funding to be distributed to EOS community projects?
3 Likes

Thanks Domenic. It’s a great move.

1 Like

Nice initiative Domenic ! I wonder what the costs will be to run the BP and who will pay for this cost ?