(This article does not focus on Dan and YVES’s personal character, but only discusses the structural design of public power)
1.Dan and YVES’ thoughts on the 2% inflation rate in the eos community
The long-term decline in the price of EOS/ETH and EOS/BTC trading pairs, and the disappointing performance of EOS in this round of bull market, made everyone in the EOS community frustrated, disappointed, and helpless. And more disappointment, condemnation, and even resentment towards block 1.
Then Dan left and started an EdenOnEos, trying to create vitality for the community, but lacked financial support. Then YVES resigned from eos nation, and recently published an article stating that a 2% inflation rate would support the development of the eos foundation, and then the foundation would support EdenOnEos. BM also issued a document stating the conditions of support.
There has been a lot of discussion in the community these days. I believe Dan and YVES are also working hard to get the support of bps.
The following are some of my immature views. For everyone to think and discuss.
2.The foundation model and financial support of the pos public chain
The establishment of a foundation model is an attempt to imitate the development model of ETH, DOT and other communities. The purpose of the foundation is to support community developers, network development, innovative ideas and projects, etc.
For example, the Ethereum Foundation was established in Switzerland in July 2014. Its purpose is to promote the development of new technologies and application forms, especially in the field of new and open decentralized software architectures. Its goal is to enable decentralized open technologies to be developed, cultivated, upgraded and maintained. One of the most important but not the only central tasks is to promote the development of the Ethereum protocol and related technologies, as well as to promote and support the application of the Ethereum technology and protocol. In addition, the Ethereum Foundation also supports and advocates a decentralized Internet in various forms.
For example, there is a web3.0 foundation behind the DOT. The Web3 foundation is a Swiss foundation established by Dr. Gavin Wood, focusing on the development, deployment and maintenance of Web3.0. Its mission is to cultivate cutting-edge applications for decentralized network software protocols.
The current Ethereum is very successful and has a large market value, but the annual budget of the Ethereum Foundation is about 20 million US dollars. Polkadot is issued an additional 10% every year. According to reports, the web3.0 foundation will get about 1-3% each year.
Is the 2% of the EOS Foundation too high, about 100 million US dollars, if the currency price rises, it may be even more. We must know that the current market value of Ethereum is more than 300 billion US dollars, and eos is only 4 billion US dollars.
The EOS Foundation’s vision is probably also imitating the design of these excellent projects. But the eth and dot foundations have been working hard on transparency, and Vitalik Buterin and Gavin Wood have been working hard to design better mechanisms to support the long-term development of the fund.
If eos rushes to establish a foundation under the current difficult circumstances, I think there will be many flaws, and the setup will breed a lot of corruption. The huge amount of funds required by its creators-2% inflation rate is questionable (currently about 100 million US dollars, if the price is higher, such as 100 US dollars, it is 2 billion US dollars, why is it so embarrassing?)
3.A better foundation model
Of course, there is a better foundation model-Bitcoin Foundation or Linux Foundation. The funding requirements are small, but many meaningful and important things have been done.
The Bitcoin Foundation is a non-profit organization in the United States. It was established in September 2012 to try to restore the reputation of Bitcoin after several scandals and to promote its development and popularization. ] The organization is modeled on the Linux Foundation and is funded mainly through grants from for-profit companies that rely on Bitcoin technology. (wiki). At present, leading institutions and people in the industry such as coinbase\bitman\bitmex have been funding the Bitcoin Foundation and developers.
The Linux Foundation (English: Linux Foundation, LF for short) is a non-profit technology trade association dedicated to promoting, protecting and advancing Linux and collaborative development, and supporting “the largest shared technology resource in history.” It started as the Open Source Development Laboratory (OSDL) in 2000 and merged with the Free Standards Group (FSG) to become the current organization. The Linux Foundation sponsors the work of Linux founder Linus Torvalds and lead maintainer Greg Kroah-Hartman and is supported by leading Linux and open source companies, including Cisco, Fujitsu, HP, IBM, Intel, Microsoft[4], NEC, Oracle, Qualcomm And Samsung and other well-known technology companies, as well as developers from all over the world. In recent years, the Linux Foundation has expanded its scope of services through activities, training and certification, and open source projects. (wiki).
I think if eos wants to establish a foundation, it should learn from the Bitcoin Foundation and the Linux Foundation. This seems to be the thinking of B1, from the perspective of what they do.
4.BM and YVES motivation
I have always felt that the foundation is an eos public power organization. In the field of public power, we cannot assume that the institutions and people that exercise power are good people who are committed to doing good things. We must assume that they are the worst.
Therefore, my opinion here is not aimed at BM and YVES individuals. I am discussing the long-term impact of the foundation.
Obviously, according to the foundation’s vision, it can control a large number of community resources, and these resources continue to flow every year. According to BM’s vision, plus the eden model, the power of the foundation will be great. Big enough to affect the preferences of bps,
In terms of motivation, it is better to say that after BM left B1, he tried to create influence in the community again and master the development of eos more.
In my opinion, after BM leaves the community, he should forget that he was the founder. Find other resources/funds outside the community to support the development of the community, instead of asking the community for money again-issuing additional currency. The issuance of additional currency is the requirement of all tyrants in history to the governor of the central bank.
If the foundation is established, the originally decentralized eos community will face a centralization caused by BM. The community will once again face the iron-fisted rule of bm.