A Block Producer eosDublin, currently ranked 65th by EOS Park, joined a growing number of voices raising a concern about the current BP reward distribution and the pertaining vote buying. Just recently published a post about the vote buying situation in EOSIO and what consequences this practice may bring to the network. We would like to publish opinions and arguments from both sides of the aisle. So if you have an opinion, feel free to reach out to us!
Below is originally published by eosDublin team
“Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has.”
There is a massive amount of voting happening on EOS and there has been since the network launched. That voting isn’t for BPs , or referendums it has been the buying and selling of EOS tokens based on the confidence the token holders have in the project.
If you go back over my posts since last October, you will see we have been calling out that there are structural issues in the governance and block producer selection and pay distribution.
There is no logical reason why an active BP earns over 600% the amount of the lowest paid backup.
Having a cliff from 21 to 22 and from 100 EOS per day to 0 is destructive.
Having more pay for number 1 than number 21 has from day 1 resulted in some teams wanting to be the Winner.
A community is what is important and will bring resilience over time. Backing each other up, supporting the projects and those who show up to do the work every single day.
So what could be a 5 step plan to Fix EOS ?
- Limit V-Pay to 1.25%.
- Enable BP standby rotation which would have every standby serve a number of days in active position each month.
- Limit the amount of BPs a Proxy can select to 10.
- Remove the 100 EOS standby cliff.
- Set up 5 regional WPS programs using the stagnant eosio.ramfee account.
Anyone else got any better ideas??
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