Introducing eosDAC : The Community Owned EOS Block Producer

in eos •  last year

The EOSIO Software being developed by Block.one will facilitate the first highly scalable smart contract blockchains, with transaction fees covered through small levels of token inflation. This will allow the development of genuinely scalable decentralised applications, and online/onblock businesses which can be owned by their communities.

Instead of ‘mining’ on the Proof-of-Work algorithm like Bitcoin and Ethereum, EOSIO blockchains will use the Delegated Proof of Stake algorithm, whereby token holders vote in 21 main block producers and 100 reserve producers.

These block producers will require major infrastructure to handle enterprise class decentralised applications and will need to be significant entities capable of scaling as required. Block producers will be paid through the limited inflation of EOS tokens in circulation.

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It is the vision of eosDAC that EOS.IO block production should be open for everyone to contribute and benefit. To realise this vision, eosDAC will be an evolving Decentralised Autonomous Community (DAC) focused on becoming a leading EOS.IO Block Producer serving the EOS communities worldwide. In doing this, eosDAC will create the tools and smart contracts it needs to function. It will share these with the EOS communities to help other DACs thrive on the EOS.IO blockchains.

eosDAC will be launched as a DAC on the EOS blockchain at the beginning of June 2018, until then eosDAC is being run by it’s launch Team. Members of the launch team have been deeply involved in the EOS community for the past 6 months and are already producing blocks on EOS community testnets. Currently eosDAC tokens exist on the Ethereum blockchain, these will transfer onto the EOS blockchain once it is operational.

eosDAC Tokens: Majority-Owned by the EOS Community

In order to create an EOS block-producer that is owned by the EOS community itself, 75% of eosDAC tokens will be airdropped to the EOS token holders themselves. 20% of the tokens have been given to the Launch Team, Advisors and Wider Community Network. Without their free contribution of time, energy and financial resources eosDAC would not have come into existence. The remaining 5% of eosDAC tokens have been given to eosDAC Ltd, which intends to use these for capital reserve.

More details are available at http://www.eosdac.io

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did not understand :) but maybe it's cool :)))

I think this is a really interesting idea, and I support trying all kinds of new approaches that might benefit the ecosystem and ensure the best block producers are there securing the network.

I also see how some may be concerned over "vote buying" in terms of selecting a BP based on how much they will benefit an individual instead of how much they will provide value to the entire network. At the same time, this could simply be seen as another layer of governance underneath a BP to help distribute and communicate what it is that BP should be focusing on most as far as value-added services and how their block rewards are used to benefit the network.

Ultimately, I think tokenizing everything makes sense. Moving away from the structured corporate owners vs. everyone else model is a good thing. I also think there's great value in voluntary leadership which can set a direction and a plan that thinks in terms of long-term benefit for everyone, not just short-term gains. If that can be maintained under this model, that could be very interesting. If it just turns into people using tokens for their own short-term, short-sighted gains instead of considering the value the BP could provide for the whole network, then I think it will run into some challenges functioning effectively.

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We agree! Very excited to see how this project turns out.

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Anybody discussing eosDAC purchases on forkdelta decentralized exchange? I bought some and sent it to my EOS - registered wallet. Curious if it’ll b a part of the airdrop. I hope to be better vested this way, but I don’t wanna screw up my airdrop. Anybody kno anything about this?

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The airdrop only looks at how many EOS tokens you have in your wallet. If you also have eosDAC tokens there, it doesn't matter.

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Hi Luke
Please contact me 188.steve@gmail.com I need instruction on how to register
my EosDac tokens before the Eos Mainnet launch. I received a 100 EosDac from the airdrop on my MEW/Trezor account and bought more and transferred them to the MEW/Trezor
My Eos coin are registered via Exodus. All set with EOS coin

Wow thats great. Community owned block producer DAC is a great idea.

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Great. Reward for holding EOS tokens.

Sounds Great!
From the website http://www.eosdac.io:

"AirDrop to EOS Token Holders
75% of eosDAC tokens (900,000,000) have been allocated for an airdrop to EOS token holders. All EOS token holders holding over 100 tokens* at the end of Day 300 of the EOS crowdsale (April 15th 2018, 01:00:00 UTC) will receive 1 eosDAC token for each EOS token that they hold, these tokens will be transferred directly into their Ethereum (ERC20 compatible) wallet. The actual airdrop will be made as soon as possible after this date and after we have run necessary tests and checks.

*Any holders of less than 100 tokens, at that snapshot on the 15th April, will be eligible (until 15th May 2018) to apply directly to eosDAC via this website to receive their eosDAC tokens directly.

Any tokens not yet claimed from the EOS crowdsale, or held in exchange wallets, will not receive or be able to claim eosDAC tokens. Any remaining tokens from the 900 million tokens allocated for the EOS airdrop will be burnt, effectively reducing the total token supply by the equivalent amount."
EOS = Epic Operating System!!!

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Anybody discussing eosDAC purchases on forkdelta decentralized exchange? I bought some and sent it to my EOS - registered wallet. Curious if it’ll b a part of the airdrop. I hope to be better vested this way, but I don’t wanna screw up my airdrop. Anybody kno anything about this?

I think it would be good to see the Launch team, are you planning on doing an interview with EOS GO?

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The team has profiles on their webpage.

nice project. Ple Back.

Much awaited airdrop plus 2 other most important. I would say it’s worth to have EOS now.

This article is poorly written. I arrived here from a google search "what is eos dac token". I want to know what eos dac is. Your article, "Introducing eosDAC", at first glance seems to cover that. But it doesn't. It's full of the same highly-scalable decentralized buzzwords that plague nascent blockchain ecosystems.

Any introductory article should begin by introducing the subject matter.

Instead, your introductory paragraph and its topic sentence's subject is EOSIO. EOSIO is assumed knowledge here, as it is not explained. I have no idea what EOSIO is.

My EOS tokens are in Metamask (using Chrome ext). Does anybody know how EOSDAC tokens will be identified versus the EOS tokens? so confusing.. but worth it! so happy about EOS ecosystem

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Per my understanding, as long as your metamask etherwallet was registered with EOS.IO - if you are not sure, you can go to https://eoscountdown.com/ to verify if your current wallet was registered or not, once EOS mainnet goes live in June (finger corssed), your eosDAC tokens and your EOS tokens will be transferred to the EOS mainnet token automatically.

To listen to the audio version of this article click on the play image.

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Awesome! Very interested to see if Binance will be supporting the EosDAC airdrop for all its EOS holders

Someone has received tokens?

This is currently the only system that uses our current laws allowing everyone to keep 100% Fruit of Labor and protects life, and liberty. We hope to incorporate our Alternate Reality World called Alternate Kingdom and the http://socialmarket.com 100% Fruit of Labor economic system into the http://eos.io blockchain through http://esodac.io

So excited about eosDAC, truly aligned with the interests of EOS holders.

Great way to get people to vote for the project.. Airdrop tokens to everyone... I would be interested in knowing who would not vote for you seeing that you have already given the community something. Interesting.