eosDAC reports active worker proposals, revenue and expenditure for August and September

in eos •  5 months ago

eosDAC is pleased to report its EOS expenditure in August and September, reflecting our priorities: secure and reliable block production; support for the eosDAC community and awareness of the token; and leadership around chain-level issues so as to support the EOS ecosystem in general and our community in particular.

한국어 번역본: eosDAC 8월 및 9월 작업자 제안과 수입/지출 내역

eosDAC’s mission is to be a fully-functioning on-chain DAC, a structure which supports a more secure code environment by requiring code updates to be approved by the elected governors. DACs also enjoy an organisational structure that mobilises a worker base incentivised by shared vested interests. As a DAC block producer, eosDAC have already shown that we contribute to the security and smooth functioning of the EOS chain by having at our disposal one of the most technically proficient and capable teams in the community; this team is supported by many workers who are incentivised because they are part owners of the DAC. We post our activities here: https://eosdac.io/news/

With respect to our block producer ranking, we are actively engaged in many workstreams to improve our ranking as a block producer, with the aim to boost our visibility and profile (these efforts began to bear fruit in October as will be subsequently reported).

EOS revenue and expenditure for the period 1 August 2018 – 30 September 2018

Block production (22% of total):
Expenditure on block production is a direct investment in maintaining our block production revenue, which is currently our revenue stream. The block production team (Michael, Rob and Luke) are highly respected throughout the EOS community and their role involves rare technical skill and 24/7 on-call commitment.

eosDAC also expends substantial funds for multiple servers through a service provider; this is reported separately.

DAC tools (34% of total):
Investment in the DAC tools involves paying the developers who are coding the back-end, front-end and design components of the smart contracts and interfaces that will govern the relationships and permissions of the DAC.

DAC workers are currently creating the smart contracts that eosDAC will use to run fully on chain. These contracts include:

  1. The member token contract which has facilitated a member client and member registration. Member registration is currently live and open for member registration members.eosdac.io/wallet

  2. The Custodian contract, which includes a plethora of complex functionality, including nomination of Custodians, staking of tokens, voting of Custodians, multiple levels of permissions and multisig payments. This will allow on-chain Custodian voting in short order. You can now nominate to run as a Custodian at https://members.eosdac.io; watch video tutorial

  3. The Worker Proposal contract, which is being compiled. This contract will allow worker proposals to be submitted, voted on, claimed and paid via multisig on chain.

As part of this, our team led by Michael Yeates has created the timelock contract for delayed payments.

We continue to partner with Object Computing for code review, as well as other developers who produce test suites. Object Computing have validated that our in-house developers are innovating smart contract coding in-line with the highest standards in the market today.

Community & comms (21% of total):
Our community team is responsible for staffing our Telegram and Discord channels (Telegram; Korean Telegram, Discord; and others).

These workers also answer questions through our Zendesk and other messages.

Additionally, community and comms encompasses the DAC’s translation and language-specific communities. Currently we support full translation into Korean and Mandarin and selective translation into French, Russian, Japanese and Spanish.
Our Youtube and Steemit (https://steemit.com/@eosdac) channels contain much of our news content.

Special projects (15% of total):
eosDAC is providing leadership and service to the broader EOS community by examining the chain-level issues that new Dapps face in starting-up on the EOS chain; by supporting ecosystem functionality like CPU leasing; by providing block production to worthwhile side-chains; and by directly supporting other projects.

  • The DAC Chain Initiative
    Having identified the resources that a DAC needs to start and grow, and the areas where EOS currently is not offering these, we have established the DAC Chain Initiative which will conduct exploratory exercises to address current issues on chain. The DAC Chain Initiative will examine issues such as RAM pricing, CPU supply, user-friendly account creation, and other topics. The outcome will be a set of recommendations to improve the mainnet or other chains.

  • Exchange liaison
    We continuously communicate with exchanges to support listing and full functionality.

  • Worbli
    We are one of the 21 founding block producers on Worbli, the financial services side chain featuring user AML/KYC verification.

  • Assisting other projects
    New projects in the ecosystem continuously turn to us for guidance and support. A few of those we are working with are listed here: https://eosdac.io/enabling-dacs/ Our work with these and other projects will substantially inform our investigations within The DAC Chain Initiative.

Management (7% of total):
To bring all our activities together, we run a fully functioning worker proposal system; the status of all worker proposals is always made publicly available on our website https://eosdac.io/active-worker-proposals/

Detailed expenditure (Worker Proposal)




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I love the transparency. Although we should be able to make it part of the blockchain... where everyone can audit, without causing privacy issues.

What do you guys think about it?
Will it cause corruption that is not worthwhile the exposure?


Or a least a connected side chain.

Great post and thanks for the updates!