EOSVibes Position on Dividends

in #eosvibes3 years ago

This post is to clarify EOSVibes stance on the issuance of Dividends (The sharing of Block Producer inflation rewards with unaffiliated voters, AKA "vote buying.")

In this post, we will answer the following questions:

*Please describe the block producer candidate's stance on sharing inflation rewards and/or paying dividends to EOS token holders.

*Will the organization offer payment to EOS token voters for any reason, including BP elections AND worker proposals?

*Does the organization have a written policy of no-payment for votes?

Us folks here at EOSVibes really loved these questions presented by EOSGo - it gave brilliant insight into the heart and soul of the EOS community.

It’s clear to us that ensuring the fairness of the Block Producer Candidate process and ultimately enhancing the robustness of the network, far outweighs the opportunity of a (possible) small personal gain. It speaks volumes about this community that it consistently shows that it is working towards the benefit of everyone, not just a select few with deep pockets.

So what’s our opinion on dividends (or “vote buying”)?

We believe, that to guarantee the voting process is robust, fair and in the interest of the community, BP inflation dividends cannot play a part. If they were to become ‘a thing’, then we believe it would have negative knock-on implications in relation to how effectively the community could rate and take action on BP’s.

It creates a conflicts of interest in a system where the BP’s are voted in by the community. For one Block Producer Candidate to give out rewards, and another to not, the system would become completely imbalanced. The effectiveness of the voting process which the original premise was that; only the best BP’s will keep their place as voted by the community - would be heavily dampened.

Let’s say for example, a BP was providing a poor service but was paying some community members for their votes. This has the potential to skew peoples’ thought process and these EOS token holders (who are being paid for their votes), may not vote on the best BP’s for the EOS network, but instead go for the best reward provider for them. Ultimately, we feel this would be pretty detrimental to BP voting process and the overall health and growth of the EOS ecosystem.

The negative impact and cost of sharing rewards is therefore much greater than the benefit. For this reason, we have chosen not to engage in direct reward sharing with the community. Rewarding EOS token holders through block rewards has many negative systemic impacts, and will not increase the usage of the network. Instead we wish to grow the EOS network organically and create true tangible value for the EOS community.

The EOS community members who make the strong willed decision to reject short term possibilities for the greater long term good of the wider community and the network, deserve to be rewarded in the future. But this must be done fairly to ensure there are no undue influences on the voting process which could reduce its effectiveness.

Rewarding EOS holders by adding real value to the network through Dapp development such as what we're doing by creating HireVibes is a more natural and transparent way of giving back to the community. Building these enterprises on the platform directly increases its usage and provides the perfect opportunity for creating organic value for all EOS holders in an open and honest way.

If EOSVibes is fortunate enough to be voted in as an EOS block producer, then we may, on occasion, use some of our block rewards to market and promote our initiatives. We may ask individuals or marketing teams to help us with these efforts, but in doing so, never will we ever make it a condition that they, or anyone else has to vote for us.

We may also require individuals or team(s) to carry out Worker Proposals for us (such as translation services etc). There may on occasion, be instances whereby a person or team who holds EOS tokens is paid for goods supplied or services rendered. However, any Worker Proposal that an individual or team carries out for us will come with ‘no strings attached’ (other than to complete the task assigned) and without any requirement for them to vote for us as a BP.

To Conclude:

The EOSVibes team promises to never pay for votes, either directly or indirectly.

Check it out in our Honour and Reputation section of the EOSVibes constitution