eosDAC update on active workstreams and approved proposals
eosDAC is pleased to share with the community the outcome of the August worker proposal process, in which we again prioritise block production, increase investment in the DAC Tools and continue to support robust marketing and community growth. In delivering these workstreams we have sought to generate maximum value to token holders without cost escalation; our total wage bill is in line with the prior month.
(The above represents our EOS-denominated expenditure; fiat expenditure is reported on by the service provider. It is worth noting with respect to the DAC Tools that in August eosDAC also invested in a contract with Object Computing; this expenditure is not included in the figures above.)
Block production (27% of total): expenditure on block production is a direct investment in maintaining our block production revenue, which is currently our sole revenue stream. eosDAC remains an active block producer on the EOS blockchain having almost continuously been within the top 21 active producers. The block production team (Rob, Michael and Luke) are highly respected throughout the EOS community and their role involves rare technical skill and 24/7 on-call commitment.
You can see our ranking using multiple tools such as: EOS Network Monitor.io
eosDAC are also active with respect to EOS chain governance. Members of the block production team attend the weekly Block Producer call and are sought out by other block producers, chain participants and the community at large for input into matters such as arbitration, the RAM market and block producer best-practice.
The decline in expenditure on this item versus July is largely attributable to further senior technical resource being directed to the DAC toolkit, as block production systems which were previously established now require less attention to maintain.
DAC tools (26% of total; EOS expenditure only ): eosDAC is creating, from the ground up, a set of tools to facilitate our own DAC governance, which we will then make freely available to all future DACs. These will include functionality to allow token holders to register membership of the DAC, tools to run Custodian elections, and systems that will allow Custodians to make payments requiring joint approval.
We are pleased to be partnering with Object Computing for code review and selective smart contract coding. Object Computing have validated that our in-house developers are innovating smart contract coding in-line with the highest standards in the market today.
We currently have a beta version of the token explorer available, and are in testing with the token contract and Custodian contract which are the precursors to member registration and Custodian elections. We expect to be rolling out member registration within the month of August – tokenholders please then register your tokens – and Custodian elections in Q3.
All these tools will subsequently be packaged into a user-friendly kit to allow groups to create and run their own DACs. We hope this will be a major contribution to the EOS ecosystem, since from its inception EOS was intended to be a platform on which decentralised autonomous communities could realistically grow.
For more please see:
Token explorer video
DAC toolkit githubs: Main
Tech and development channel
Community engagement (25% of total): we are committed to enhancing awareness of eosDAC so that our community will expand. We maintain many active communication channels including Discord, Telegram, Youtube, Facebook, a newsletter, and others. Details of these all these are under ‘Get Involved’ on our website, eosdac.io.
We regularly post announcements on our website and Steemit.
We conduct a fortnightly all-hands call which anyone can join; please see details in our public calendar
To answer members’ questions regarding their tokens, how to store and trade them, and to promote community members interacting with each other, we are currently staffing Telegram and/or Discord channels in English, Korean, Mandarin, Spanish, Japanese, Russian and Italian.
• English: https://t.me/eosdacio
• Korean: https://t.me/eosdac_korea
• Chinese: https://weibo.com/eosdac
• Japanese: Japanese channel of Discord
• Russian: https://vk.com/eosdac
• Spanish: https://t.me/eosdac_espanol
• Italian: https://t.me/eosDAC_Italia
On a typical day in the English channels alone, eosDAC staffed workers answer 250-350 messages (main channel) and 50 in the price channel – and when price movements occur these can increase tenfold. The Korean community channels are similarly active.
Additionally we have recently created a Zendesk helpdesk for the website as another portal on which technical and other questions can be addressed.
Other/special projects (11% of total):
Further revenue streams: we are actively seeking to add further revenue streams to the DAC to increase its profitability and value. In particular we are pursuing
• Side-chain/private block production: we are in discussions with more than one private chain, at various stages of development, regarding block production
• Projects wishing to airdrop onto EOS or EOSDAC
• Other projects seeking assistance
For a sample of these projects please see our website
A key element in opening up eosDAC to all those who are interested in being part of it is ensuring our token (which confers membership) is available on exchanges. To this end we are continuously maintaining discussions with exchanges to create more liquidity for our tokens.
The following are trading + depositing/withdrawing EOSDAC: Gate.io, Big.one, AEX, DragonEX, OTCBTC, Cryptagio, DEXEOS.
The following are trading EOSDAC and working on opening withdrawals/deposits:
Bibox: engineers are setting up EOSDAC wallets; deposits/withdrawals open by the end of next week
Hotbit and ZB: trading EOSDAC; deposits and withdrawals not open
Bitbns: early Indian exchange to list EOSDAC. Expects open deposits/withdrawals by end of August.
Cashierest: after the EOS mainnet swap both EOS and EOSDAC tokens were halted. We are working closely with Cashierest to help them enable EOSDAC token trading.
We are continuously exploring new listings: open application with Chaince; in discussions with a new EOS DEX; working closely with a tier-1 exchange seeking to launch an EOSio token trading platform.
We are supporting Chintai, a peer-to-peer CPU leasing platform that will make it more affordable for new Dapps to establish themselves. Click here to see the latest update from Chintai
Community outreach through conferences and events
Our senior managers regularly speak at events in order to share best practice on block production, DAC development, governance and other matters. In the last month alone, Rob Allen, Luke Stokes and Michael Yeates have all spoken at important events including the EOS meetup in London, Discon conference in Colorado, and the EOS Community Conference in Seoul.
Block production proxy voting
Though not strictly an eosDAC project, Luke Stokes runs a proxy voting account which currently proxy votes 1.5m votes, and which eosDAC benefits meaningfully from.
See the proxy ranking here
Management/admin (11% of total):
The DAC requires systems to function, including the worker proposal system, financial systems and operational systems. We also require strategic and legal oversight of our structure and operations to ensure we are managing our affairs prudentially.
The human resource required to design and execute these systems supports all of the other activities of the DAC. Additionally, we are designing these systems to be open-source, so that our members can contribute to eosDAC through worker proposals, governance and community participation.
The decrease in cost versus July is attributable to slightly more management time being allocated away from administration and toward special projects. This is because administrative systems which were previously established now require less attention to maintain.
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