EOS New York: RAM Transparency Policy on Purchases & Sales

in eos •  4 months ago

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Internal RAM Policy

We are publishing our RAM purchase and sale policy in order to maintain a level of transparency that we believe the community deserves from its Block Producers. Block Producers, through their server infrastructure, manage the supply of RAM required by the network. These supply changes can directly affect the price of RAM on the internal market. Therefore, the information we are privy to could lead to clear conflicts of interest or unfair advantages.

We will formally add a final policy to our code of conduct and our website soon. In the meantime, here is our foundational policy which we are providing to the community for comment.

Purchases & Sales

Should EOS New York choose to purchase or sell RAM we will announce our intention at least seven days prior to the point of purchase or sale. We will place this notice on the EOS blockchain for all to audit.

Exclusion for RAM Purchases intended for Account Creation

As we expand our organization we will be required to purchase new account names on EOS. In order to remain agile, we are excluding the purchases of RAM intended for account creation from our policy.

The account names we currently own mirror our corporate structure:

  1. eosnewyorkio
  2. libertyalpha
  3. techlibertas
  4. amagialphalt

Upgrading RAM

Our RAM upgrade policy is still being developed internally.

Speculation

EOS New York will not purchase or sell RAM for speculative purposes. We believe that the resources available on the EOS platform are meant to be used for their utility, not their ability to generate gains. EOS New York will use RAM for development reasons, either for our own projects or the projects of others which we support.


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EOS New York is a Top 21 Block Producer on the EOS Mainnet Blockchain

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@eosnewyork Transparency in the transaction is always required. Good initiative.

I appreciate the stepping up to even talk about this however, it draws a lot of questions in my mind:
if BP's essentially control the supply, thus controlling price as demand rises (or falls), wouldn't it be immoral for BP's to even be allowed to sell (to make profit) ram? In my mind it's self-dealing in a sense. I would go out and venture to say that it might be even immoral to allow BP's to have side projects that require the use of ram. How far do we let BP's participate in the ecosystem? Meaning, maybe they should only allowed to produce blocks. Isn't that business enough? And important to maintain it's virginity as to not soil (self-deal) aspects of the community, such as ram? I'm a token holder, and in it for the long haul. And the above, at least in mind as it stands now, is a real potential criticism that should be nipped in the butt now, before those who are not pro-EOS start to figure this out and see how its an ask for corruption.

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We're committed to the success of the EOS blockchain. We have publicly stated that we would prioritize the use of our block rewards in various ways in order to reinvest back into the EOS ecosystem. One of those ways is to advise, fund, or incubate dApps. This could include staking the tokens required to power their dApp. In that case we will purchase RAM and give ample notice of exactly how much and when.

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Good start.

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Can we get a 12 char name marketplace please? Something we can use to safely swap account names in escrow?

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well, it looks like my projections came true unfortunately. greedy BPs should be voted out for the benefit of the community going forward. that one guy from eos canda needs to simmer down too. way too loud for my, and im sure the rest of community's, liking.

stay away for ram trading if you want to stay a bp in the long run

This is very much in line with @eluzgin and David's (@eos42) position on this topic. The opportunism we are seeing could be quelled by simply communicating our intent prior to any purchases and staying away from speculation, as it is not in the best interests of the network.

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well, it looks like my projections came true unfortunately. greedy BPs should be voted out for the benefit of the community going forward. that one guy from eos canda needs to simmer down too. way too loud for my, and im sure the rest of community's, liking.

stay away for ram trading if you want to stay a bp in the long run