There has been a lot of discussion about governance, vote rewarding and value proxy on EOSIO lately. Some parties argue that Asian domination of the top BP spots, their alleged collusion and geographic centralization of block production in that region of the world can lead to weakening of the EOS blockchain.
Others believe that vote rewarding is a natural outcome generated by a demand for passive income and, therefore, is simply driven by the invisible hand of capitalism.
Colin Talks Crypto recently suggested in one of his videos that until a better governance solution is found, Western BPs should join the trend and offer vote rewarding. As a result, he launched a new proxy offering to vote for the BPs that are willing to pay 80% of their incremental BP reward back to the voters. However, these BPs need to pass same value generation scrutiny that Colin applied to all of his votes in the past.
The idea of Value Proxies was born some time ago and is defined as voting for the BPs that are believed to create value for the blockchain AND those who participate in the profit share from their BP reward pool.
Marketcap.one bought a domain name http://valueproxy.one and made an announcement about launching their Value Proxy with a slogan “EOS token holders no longer have to choose between dividends and BP’s who add value”. Its proxy name is “valueproxy11”. However, at time of writing of this article, they have not voted for any BPs, did not announce their voting plans/strategy, nor disclosed what APR they are aiming to provide to the voters.
AlohaEOS, Blockastart ad EOSphere recently launched a proxy called Value Proxy doing exactly that.
EOS Nation Launches New Proxy
And now more and more Western BPs jump on the bandwagon. EOS Nation launched its own new proxy aimed at paying out rewards to its voters. The return is floating, but as of the time of writing of this article it stands at 3.08%. Payout is split between EOS and DAPP token. You can learn more about it by listening to an amazing podcast video conducted by Ashe Oro from EOS Radio:
There are two ways to claim your rewards right now. The first one is manual. You can do so by visiting the website and claiming your tokens yourself every 24 hrs. But the EOS Nation team realized that is not very convenient and user friendly. So they partnered with EOSbots to create a bot that will automate this task for you. You need to visit https://eosbots.io/ and click on the top banner – proxy4nation.
Yves La Rose, CEO of EOS Nation made the following comments about the new Proxy:
Here are facts about the current pool
1 – We have lifted 4 BPs from unpaid positions to paid position
2 – We have added 6M votes to BPs we believe bring the most value to the ecosystem at this point in time. You can disagree, that is okay.
3 – We have added 2M votes to 30 BPs who most of you “know well” – 9 of which are below the paid threshold.
4 – The pool is costing us 600-700 EOS per day, plus 6000-7000 DAPP tokens to run
5 – Our income is 366 EOS per day
6 – We do not sell spots to be on the proxies
I thank those who agree with the vision and are showing us support. Our intention is not to compete with the mining pool offering the highest APR. We are offering a competitive APR and balancing the proxy choices, asking for nothing in return.
We did this at our own expense and we hope it continues resonating with token holders.
Now that there exist several Value Proxies that compete directly with other proxies that simply pay rewards without potentially selecting the best candidates out of BPs, you can make a wise choice that both, pays you dividend and does good for the EOSIO ecosystem.
Disclaimer. EOSwriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.