Weekly DAC Recap #4

in eosio •  4 months ago 

Custodian News

This week’s Custodian Board (Custodians are re-elected every 7 days! If you want to engage in running eosDAC and make decisions for it, stake a minimum of 35000 EOSDAC and register yourself as a candidate on https://members.eosdac.io/)

This weeks highlights


And in three days since deploying the EOS Lost Key Recovery system, we've already had 409 accounts containing more than 1 Million EOS successfully claim a key swap. (That is, in today’s EOS value, over 6,000,000 lost USD return to their rightful owners!) When this project was initiated, the number of reported lost accounts was 273 accounts, with balances total 897,361.74514 EOS so those initially reached out to the lost key group has been helped out. We are very grateful of our fellow BPs who made all this possible! Don’t forget to support BPs who worked hard on this solution:
eosdacserver (eosDAC)
eosauthority (EOS Authority)
libertyblock (LibertyBlock)
eosnationftw (EOS Nation)

Watch Colin’s a step-by-step walkthrough on how to recover lost EOS Genesis Account:

Alternatively, you can claim your account using Token Pocket wallet with this simple guide

  • BPs on BOS Network have launched the 3 second LIB Testnet which could extend the blockchain application scenario to enable faster payments - a feature that could be ported to EOS! The result was even better than expected because the testnet could actually achieve LIB in 1 second. There is also a 100-1000 BOS bounty program going on if you’re interested! eosDAC (bosdacserver) is a proud BOS BP and will continue assist the chain to implement more infrastructure to speed up DAPP development.

If you would like to delegate your votes to a proxy instead, here’s the list of proxies which support eosDAC:

Brock Pierce Proxy
Freedom Proxy
Colin Talks Crypto
Luke’s Proxy
Token Pocket Proxy

If you lease your tokens on Chintai, you’ll be supporting eosDAC via their proxy
If you you choose the default proxy to use REX, both Token Pocket proxy and EOSREX proxy include eosDAC!

Approved Msigs of the Week

We have 2 msig proposals approved and executed this week:

  • April And May Development Team Payment
    This is to cover the development team payment in fiat for the month of April and May through eosDAC fiat reserves instead of the DAC foundation reserves. Total amount requested £24,750. The breakdown can be found on this sheet.

And 13 proposals waiting to be approved! Most of them are our “regular” worker proposals occurring monthly with exceptions such as

You can check all of the submitted worker proposals on https://members.eosdac.io/custodian/review-msigs with what they are for in the respective description. Not every single proposal will be approved by the custodians, we’ll be covering which ones are executed and what not next week!

EOS Report…

EOSIO™ Software Release: Native SDKs for Swift and Java

Another big announcement from Block.One came out on Friday 17th: Alpha Release of Native EOSIO SDKs for Swift and Java.

With native mobile applications becoming a crucial component of consumer-facing products, we have released two new tools for EOSIO - native SDKs for Swift and Java, which aim to provide better support for native mobile applications built on #EOSIO.

For our fellow non-tech savvies, Java is one of most popular programming languages with about 9 million developers all over the web and Swift is the rapidly growing language used to develop iOS applications - so this release is like inviting all those developers to join the EOS community and start building brilliant dApps on EOSIO!

Block.One has also prepared iOS and Android example applications to help developers to get started using these new SDK.

Both tools are open source so everyone is welcome to test them out and create issues/pull requests - read in detail

EOS Inflation: What will be the future?

‘Inflation’ has been the hottest topic for the last couple weeks, sparked by the community token “burn” of 34 Million EOS tokens on 8th May. We’ve retired the 4% of inflated EOS tokens which had been accumulated for one year in eosio.saving account, but the 5% of token inflation model still remains today - so now the focus moves on to whether we want to keep the current inflation rate - 1% for BP rewards and 4% for the savings for supporting the community and projects in the future. As covered by last week's DAC Recap, MEET.ONE have submitted a multisig proposal to remove the entire 4% inflation and just to keep 1% of yearly issuance for rewarding BPs. While this idea is supported by much of the community, some BPs insist that the code itself should be merged into B1’s eosio.system contracts in Github repository prior to approval. Following this, other BP teams have proposed their own version of the ideal inflation model, for example:

Tokenika: 5% > 1.1% with 1% rewarded to BPs 0.1% to WPS (which can be later readjusted ±0.025 by consensus and burn the unused)

EOS New York: Newly issued tokens should be awarded at a dynamic rate to all token-holders who vote. The dynamic rate here would be where the higher the voting weight is on-chain the lower the amount of tokens issued to voters is. Because voters should be as equally rewarded for their action of voting (which helps securing the network) as the BPs get their block production rewards.

And lastly, EOS Nation’s ‘remove all inflation’ in time and let the block producers find other sources of revenue as per their post:

I believe that as a community we should embrace a world where the Block Producers give back 100% of their rewards, effectively removing all inflation from the ecosystem and countering the centralization of powers that is currently occuring. In my opinion, it is best if we as a community welcome this concept and prepare for what is already upon us.

What is your view on the current inflation system? We’ve linked the original articles for you to explore each concept and voice your opinion. Keep an eye out for what’s to come, we are seeing a turning point in the EOS history!


As a rule of thumb, if you receive a spam message via memo on chain, especially of which reads ‘claim your tokens…’, ignore it because it’s most likely a scam. Don’t fall for it! Our community have reported the following scam messages being sent to the holders. Be aware.

  • EOS NW alerted that there is a transaction being broadcast which looks like an invitation to June 1 Block.One event, but it is a scam.

  • Creamer News reported that there’s rex related scams going around

  • Also https://hvtclaim.co is another fake website. Do not engage with it. Please ensure when you stake or claim HVT to use only our official website : https://www.hirevibes.io

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