Statement of Ownership and Code of Conduct
eosDAC is proud to be widely held in good esteem by the EOS blockchain; for instance we were one of only seven block producers rated ‘Excellent’ for disclosure by ControllingHand, we were ranked A+ for block producer compliance when EOS Wire was collating its compliance rankings and we enjoy full positive standing on Ben Sigman’s list.
In the interests of continuously updating our communications, we are today publishing updated information about eosDAC – although nothing has changed with respect to how we are organised, our ownership or purposes.
Statement of ownership
eosDAC is a collective of individuals working together for common purposes – to produce blocks on EOS, to support new dApps, to enable future decentralised autonomous communities (DACs) and any other priorities the community chooses. eosDAC is not a company and the members are not shareholders, instead eosDAC tokens confer membership and control of the DAC through voted Custodians and other mechanisms. The best place to read about how we are organised is in our Constitution.
Our Constitution is a ground-breaking effort to codify how a new organisation like a DAC can govern itself. It outlines the mechanisms for tokenholders to register their membership and vote for Custodians; empowers Custodians to make decisions and payments; and creates the framework by which members are severally liable for the operations of the DAC. It also empowers eosDAC to request identifying information of its tokenholders, in order for example to comply with national regulatory requirements. We really recommend you read it, to understand how we work!
Code of Conduct
Our values are at the core of eosDAC’s reason for being. As the only block producer constituted as a DAC, we exist in order to be and to pave the way for a new model of organisational design in which all members are treated equitably and fairly. Since DACs are governed by members, the democratic mechanism ensures integrity of operations since Custodians will be voted in and out based on their contribution to the community.
Our Code of Conduct is even drafted right into our Constitution.
Our principles are:
1. Excellence of Service Provision
The objective of eosDAC is to ensure that it is able to continuously produce blocks required by EOS.IO software driven blockchains. eosDAC shall always strive to ensure that it is able to produce or procure the continuous production of blocks required by EOSIO software driven blockchains.
2. Openness and Transparency
All decisions made by the eosDAC governance structures and all operations of eosDAC will be open and transparent.
3. Support of EOS Communities Worldwide
We want EOS.IO blockchains to flourish so we will engage with EOS communities with a view to initiating and supporting projects that benefit all EOS.IO blockchain communities. This will include tools for other DACs.
eosDAC will treat all members fairly and reward contributions appropriately. No one member should have less information about a decision than others.
eosDAC will not seek any significant stake in, or undue influence over, other block producers. It will also take appropriate measures to protect its own independence.
6. Electoral Fraud
eosDAC will never provide payment for votes from EOS token holders.
Position on Dividends
eosDAC uses block producer rewards as follows:
To support growth of the EOS blockchain infrastructure. eosDAC will invests in continuously upgrading and improving its operational infrastructure to ensure it achieves maximum speed, reliability and redundancy.
To proactively support the wider EOS community of Decentralised Application (dApp) developers and endusers through investing in its own dApp development and through providing community grants.
Once sufficient funds have been allocated to operational costs, infrastructure growth, community development and contingency funds, eosDAC intends to distribute surplus EOS tokens as decided by eosDAC token holders via Custodians. This may take many formats including dividends.
It is absolutely clear that dividends distributed to the DAC members would not be dependent whatsoever on their mainnet votes. DAC members would be rewarded regardless of their votes since, simply by being registered members of the DAC. It should also be noted that although there may be considerable overlap between the DAC members and EOS token holders, the two distributions are distinct by design.
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