One thing I'd like to highlight this week is a recent announcement from Worbli that they would be end
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February 7 · Issue #34 · View online
The Week in EOS.
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One thing I’d like to highlight this week is a recent announcement from Worbli that they would be ending their “sharedrop” early, effective immediately. This comes a little over a week after their last sharedrop update, which said that the event would continue through June 2019. I don’t mean to single out Worbli here, as there may be some legitimate reasons for their actions. But it gets to some interesting points around token distributions for new EOSIO chains.
Worbli is an EOSIO-based permissioned, KYC’d blockchain that is attempting to be the “financial district for EOS,” using its regulation-friendly status to act as a bridge between various EOSIO chains and the legacy financial system. It’s an interesting value proposition. But Worbli is not, and was never intended to be, a public blockchain. It’s more like a business with a distributed set of servers and a publicly viewable and audit-able database. So we shouldn’t be surprised at unilateral, top-down decisions like this one. What should surprise us, however, is the way this decision was enacted and announced. The update went out the same day that the sharedrop was ended, giving users no time to react. Users who are still in the KYC process have been given until Thursday to claim their accounts, but several who we’ve spoken with have indicated that they won’t be able to finish the process by then. There are several reasons why Worbli may have wanted to end their distribution early. As they mention in their blog post, the EOSIO token model, which allocates network resources on a pro-rata basis, leaves token holders uncertain of their allocation if future distribution isn’t known. If Worbli was looking to onboard partners, this could have been a hang-up. But to end the sharedrop immediately is just bad PR. To give users even a couple weeks of warning time would have been far better received. The goal of airdropping tokens to the EOS mainnet is twofold: to earn the support and goodwill of the community and to benefit from the already existing and widespread token distribution of the mainnet. Ending the sharedrop so abruptly seems to go against both of these goals, especially since the undistributed tokens will now be burned and WBI token ownership will be more concentrated. We wish Worbli the best, and hope that this decision was made in order to allow the company to move forward with new and exciting partnerships. But we highly encourage any projects looking to build independent EOSIO chains to consider this example when designing their distribution model. For proof-of-stake blockchains, token distribution can be the difference between a secure public chain and one that is effectively controlled by a cabal of insiders. The EOS mainnet distribution is the result of a year-long, public token distribution and a number of market cycles that have occurred since launch. Its distribution may not be perfect, but it’s the best we’ve currently got. New projects should strongly consider the benefits of supporting this community and the negative consequences of significantly altering their distributions. Myles Snider, CEO
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Rethinking EOS Referendum Game Theory: Why 15% Token Participation is Irrelevant
EOS New York makes a strong case against an arbitrary threshold for referendum-based governance decisions. We’ve noted before that we consider referendum to be merely one tool in the EOS governance stack whose main utility is helping BPs gauge community sentiment. We hope and expect that participation will grow over time, but limiting decisions to a 15% threshold prevents us from using this tool in the meantime.
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How to Find Freedom in a Unfree World – Daniel Larimer
Dan Larimer released his latest article, waxing philosophical on the nature of freedom and its limits in a modern world. The article touches only a little bit on blockchains and cryptocurrency, but it’s always interesting to get a sense of Dan’s view of the world.
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Our experience with REX – Attic Lab
Attic Lab spent some time testing out the functionality of the REX contract, and they were happy to report back that everything worked as intended. It’s worth reading the article to get a better sense of how REX will operate in practice.
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Preventing The DAO
Michael Yeates from eosDAC talks about how EOSIO software features like permissions, update-able contracts, and time delays can be used to prevent catastrophic bugs like the one that eventually led to Ethereum’s DAO hard fork.
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EOS Digital Goods Standard
Rob from Cypherglass brought together representatives from all of the major teams working on the dGoods standard to discuss the project.
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The issue with EOS governance - Interview with EOS New York's Kevin Rose
We’re big fans of the entire EOS New York team and their thoughtful approach to governance, which Kevin discusses in this video.
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REX Release Candidate - Block.one
Today, B1 dropped the latest version of the REX code, with some bug fixes, improvements, and new features.
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dfuse Rolls Out Live Search on Blockchain
We saw two big updates from dfuse this week. The first is a new feature that allows you to search and query blocks that haven’t yet been deemed final. This allows dApps to get a better sense of the state of the chain at all times, even in the most recent (and potentially reversible) blocks. The second update was a number of new indexes added at the request of developers using the dfuse API. We’re constantly impressed by how consistently this team ships and the quality of their products.
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Imagine vRAM – LiquidApps
The LiquidApps team gives a number of examples of how vRAM could be used by EOS dApps to lower their costs and improve their offerings.
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Claim and Stake Hirevibes HVT
First and foremost, shoutout to Hirevibes for having some of the best design and UX we’ve seen in the EOS space (or in the crypto space, in general). Holders of HVT tokens can now claim them and get started staking to earn rewards.
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PixWeekly PixEOS Update
pixEOS officially went live in beta this week, and the team is now giving a weekly overview of the pixEOS ecosystem. We’re looking forward to trying out the paint dApp this week!
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Eradicating Friction – Carbon USD
Sam from Carbon talks about his team’s work with EOS Lynx to eliminate every possible friction from the user experience of their CarbonUSD product. Carbon USD is the first and only fiat-backed stablecoin on EOS right now.
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Tutorial: Launching Your Own DAC on the Jungle Test Network with eosDAC
The eosDAC team has been building out a set of tools and contracts not just to power their own DAC, but also to allow any user to easily spin up a DAC of their own.
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Important: WORBLI Sharedrop Update – WORBLI
Read the entire announcement from Worbli regarding their updated sharedrop terms.
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Austin, TX
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