The Weekly Airdrop is an EOS community focused research report. EOS Detroit will be monitoring the EOS pulse, publishing weekly updates, and informing our readers of current news within the EOS ecosystem. Subscribe to The Weekly Airdrop if you would like to receive them directly in your email.

EOS Detroit Update

Tulip Conference
In the beginning of June, our team traveled to San Francisco, California to attend Tulip Conference alongside some of the biggest names in the EOS community including David Moss, @thomasbcox, Sam Sapoznick, Steve Floyd, and Nathan James. Here is a clip of our CEO Rob “robrigo” Konsdorf speaking on a panel discussion with other block producers. Many other block producers were also in attendance including Bitspace, EOS Blocksmith, EOS NodeOne, shEOS, EOS Meso, EOS42, EOS Gravity, EOS Asia, EOS Cafe, EOS UK, eosDAC, LibertyBlock, EOS Tribe, and EOS New York.

Crypto Cafe at Detroit Startup Week
EOS Detroit was listed as an official sponsor of Detroit Startup Week alongside many iconic brands including Quicken Loans, Chase, Duo, Comcast, Google, and Lyft. Our Chief Community Officer Ingrid LaFleur live streamed Crypto Cafe for 5 days straight and had several hundred guests in attendance throughout the week sitting in for presentations about blockchain technology and EOS.

See Who We are Voting For: EOS Detroit Voting Slate.

Read the Joint Statement We Took Part in Drafting: Securing a Decentralized and Prosperous EOS.

Contribute to the Valor Fund: Restoring Faith in EOS: Valor Genesis Fund Phase One - Those that have been working on the EOS referendum contract have announced that the third iteration of the contract has been completed. Update.

Learn How the Provisional Constitution has Evolved: How the Current EOS Constitution Developed.

Interviews:
Crypto Blood interview Part 1: “CB x Rob CEO of EOS Detroit: How EOS is Not Centralized, Governance on Blockchain, DPOS & More!”

Crypto Blood Interview Part 2: “CB x Rob CEO of EOS Detroit: EOS Const 2.0, Ricardian Contracts, BP Concerns, Voter Distribution”

EOS Update

Price of EOS:
$8.85

Market Cap:
$7,929,766,973

Price of RAM:
0.59011596 EOS per KiB

Note: The numbers above are accurate as of 10:00 am EST on 07/03/2018.

New Release:
EOSIO 1.0.7

Incoming Airdrops

Airdrops are additional tokens that are distributed to EOS token holders. New projects can bootstrap a user base for their dapp while avoiding the complexity of selling tokens via the traditional ICO method. Projects then withhold founder tokens that can provide a runway for the development team. The free market then decides the fair market value of airdropped tokens for themselves.

Not every exchange will support every airdrop, so make sure to double check. We highly recommend storing your EOS in a personal wallet such as EOS-Voter, and not on exchanges. Keeping your EOS in your own wallet means you don’t have to trust the exchange to secure your property. You don’t actually own your tokens if they are on an exchange.

In other news, Binance just re-enabled EOS withdrawals and is now fully integrated with the EOS mainnet.

** Check out AirdropsForEOS for more about airdrops. **

WPS Goal Statement & the Path Forward for an MVP

@thomasbcox recently put forward a Worker Proposal System Charter on the EOS Go forum.

“To design a proposal for the EOS Worker Proposal System (WPS) and its governance, including the formal procedures, controls, and data workflows that will control the election of proposals, the responsible distribution and oversight of funds to said proposals, and the process by which the WPS can be amended to meet the needs of the evolving chain. Also to design the referenda criteria for bringing the WPS into/out of existence. The proposed WPS will empower the funding of projects that will enhance the health and competitiveness of the EOS blockchain ecosystem, yet may or may not be otherwise commercially viable and therefore struggle to attract private investment.”

“The WPS working group has defined a path forward for a rapidly deployed MVP1 (a first Minimum Viable Product) which will include a governance structure to enable early release of funds for high-priority infrastructure projects, as chosen by the Token Holders of the EOS Mainnet. Following the release of MVP1, the group, in cooperation with the community of stakeholders and volunteers, intends to engage in a more rigorous series of iterations to deploy a robust governance structure and flexible user interface, intended to support a wide range of Worker Proposals.”

– @thomasbcox, from the Worker Proposal System Charter

80% of annual EOS inflation is designated to the Worker Proposal System. New ideas that can be used to benefit and stimulate innovation in the community can be formally proposed, and sponsors that find it interesting or worthwhile can vote for the project to receive funding. If enough token holders vote to approve of the project, the requested funds will be released. Examples of worker proposals could include security testing, bug bounties, bug fixes, new features and upgrades, or public goods.

Referendum Contract Update

Those that have been working on the third iteration of the EOS referendum contract have announced that the code has been completed. The referendum contract is a smart contract that would allow staked users to vote for constitution amendments or conduct polls on EOS token holders. With a referendum contract in place, EOS token holders could also vote on worker proposals.

EOS Test Cave

The EOS Test Cave is a test harness containing a set of scripts that tests a lot of the basic functionalities of EOS every time the code is changed. Where before it would take multiple days to manually check functionalities to validate EOS software releases, with the EOS Test Cave, it can be done in a matter of approximately three minutes. Automated testing helps us deliver a higher quality experience for users of EOS by catching bugs early. Great work by everyone involved, specifically Crypto Lions, HKEOS, Blockmatrix, EOS Sw/eden, EOSeoul, eosDAC, and shEOS.

EOS Proof

EOS Argentina launched their first mainnet dapp, EOS Proof, which uses Scatter to sign and timestamp documents on the blockchain. EOS Proof can be used to verify ownership and existence of a particular document or file by uploading a proof. The hash of your document is then stored on to the EOS blockchain.

RAM

There has been a lot of discussion regarding the mechanism for reserving and freeing up RAM on EOS. RAM is the on-chain storage for the EOS network. Its mechanism utilizes a Bancor connector to enable EOS users to buy and sell RAM reservations, which can be used to store DApp data and other on-chain data for individual accounts. RAM is necessary to perform airdrops, store profile data, trades in a marketplace, and any other data that must remain part of consensus and can not be offloaded to distributed storage (such as content files).

There are a few things to consider when tweaking the RAM algorithm. Cheaper RAM means easier access for DApp developers, while also becoming a target for speculators looking to gain by buying EOS RAM without utilizing it, to sell it back later at higher prices. Interestingly enough, the current model can actually make the EOS supply deflationary, due to the 0.5% fee associated with buying and selling RAM. The EOS paid to cover the fee are burned, or removed from the supply. Due to this factor, the EOS supply is experiencing deflation of around -2% today.

Some proposed changes to the RAM supply to decrease the costs for DApp developers and curb rampant speculation include this proposal by @any_x of Greymass, which introduces an inflection point to make speculation more risky. The current speculation around RAM does not function like a free market, rather a liquidity market, due to the nature of how Bancor’s algorithm works. By creating incentives for speculators to sell, this should reduce the amount of RAM that is being sat on and not utilized for DApps.

Another proposed change, this time from @jem, is to go back to the “no capital gains” model (the RAM you buy reservations for is sold at the same price), and create an annual fee for RAM holders. In this scenario nobody would want to hold RAM that they aren’t currently using, because they essentially have to pay a “property tax” for it.

At EOS Detroit, we will be keeping the community informed of our RAM reservations and sales in the spirit of transparency. To date, we have only reserved 8 kb when our “eosiodetroit” producer account was created. We pledge not to speculate on RAM; in our eyes, artificially driving the price of RAM higher for DApp developers makes EOS less practical for DApp developers.

EOS Mainnet Launch Group Calls

EOS Detroit has started a regularly broadcasted livestream for the EMLG calls. We will continue to livestream these calls on our Youtube channel for as long as we have access to the Zoom link.

EOS Mainnet Launch Group block producer call livestream 06/28/2018.

EOS Mainnet Launch Group block producer call livestream 07/02/2018. Crypto Lions took notes from the call, which included Dan Larimer, and posted them on Reddit.

Time to Hit the Polls! Get Out and Vote!

What makes EOS great is that you, the token holders, get to choose the direction of the network by voting for which block producers are fulfilling your vision for the EOS network. We recently published our EOS Detroit Voting Slate. These are the 30 block producers that we believe are most deserving of more votes.

How to Vote

The easiest way to vote for your favorite block producers is to use EOS-Voter, which was built by Greymass. You can also check out this video for a short tutorial.

Voting Diversity Metrics

EOS Titan has been building amazing tools to measure voter diversity metrics. Great work EOS Titan, and thank you for your contributions to the community!

Securing a Decentralized and Prosperous EOS

Joint Statement:
EOS Detroit published Securing a Decentralized and Prosperous EOS, a joint statement that was translated into 4 languages and co-signed by 29 BP’s all throughout the world. This statement highlights the need for wider vote distribution and was resteemed by Dan Larimer, providing much needed exposure to such an important cause. We encourage you to join in on the discussion on Reddit.

To the EOS token holders:
Although there is a lot of great talent and qualified active block producers in the top 21 currently, we believe there should be wider vote distribution. Many block producers that have added incredible value to the EOS network are now faced with the unfortunate possibility of having to shut their doors and close up shop because the current distribution of block reward is too top heavy. These block producers were heavily involved in the governance discussions, test nets, and overall growth of the EOS community. Voters must take action now to avoid a significant loss of talent and infrastructure which has been deployed to support the network.

Block.One Will Vote
Block.One released a statement signaling that they would soon be voting with their stockpile of tokens to vote for Block Producers who they thought met 6 criteria:

Honesty, integrity, and fairness.
Transparency of identity, activities, and decision-making.
Abides by smart contracts and programming of network participants, in the absence of proven systemic bugs.
24/7 timeliness in processing transactions, upgrading the network, and emergency response.
Compliance with the Ricardian Contracts entered into when becoming a block producer.
Alignment on the EOS Constitution, the latest of which can be found here.

We the People | EOS Governance

ECAF

ECAF (EOS Core Arbitration Forum) published a first draft to Steemit on how they would release official notifications to token holders who are named in a dispute. The system also outlines the a basic process for notifying block producers and the public through Steemit. This is a welcomed step in the right direction after ECAF came under fire this week because of various hiccups with notifying block producers.

EOS Constitution

Many EOS token holders are new members of the community, or did not participate in many of Governance discussions until mainnet launch. There is often a misconception that the constitution was developed by a small group that did not seek feedback from the token holders. EOS Detroit Director of Business Operations and governance guru Adam Zientarski put together a post outlining the changes that occurred to the constitution by the parties involved.

How the EOS Community is Coming Together in Defense of Victims of Theft on the EOS Blockchain

The Problem:

Based on the data that we have collected thus far, it has been determined that 96,335 stolen EOS tokens (~$750K in value at today’s price) have been saved because of the additional safety and security that the EOSIO software provides. However, some victims still lost their funds. The Valor Genesis Fund was first recommended by Dan Larimer in a June 27 Medium post titled The “Intent of Code” is Law:

“The very first disputes brought before ECAF are in relation to a scam registration website that provided users with fake public/private key pairs. Due to technical limitations, even users who used hardware wallets on Ethereum fell prey to the scam. While the community has objective proof of the original owners of the Ethereum addresses, these individuals fell prey to the scam site because they didn’t use the official eos.io website nor follow the official instructions.

"As much I would like to see the previous key holders receive their tokens back, I feel that the precedent established by such intervention would do more damage to the entire EOS ecosystem than the money they receive. At this point I would recommend that the EOS block producers campaign on making a charitable donation to the cause of helping these people out. It would be far cheaper for the EOS community to resolve these issues by way of community donations than by setting precedent of producer intervention.”

Out of 34 compromised accounts, since the Genesis snapshot and launch of the chain, 15 events occured, 5 of which resulted in loss of tokens. We encourage you to dig into the data analysis put together by the EOS BP Compliance Data/Research Group. This information was gathered for the Valor Genesis Fund.

What We Are Doing About It:

A way to donate securely on the EOS blockchain is our goal. We are currently working with developers and invite any additional developers in the community that are up for the challenge to contact us. We hope that ECAF will be able to assist us with the process, in order to ensure that our due diligence is consistent with ECAF’s practices. As of right now we are processing independently of ECAF but open to collaborate. It has always been our goal to hand this over to a trusted third party group. Expect another update from us on where to donate and who the trusted third party will be.

Phase one of this fund is for the token holders that lost their tokens completely, which is about 11,628 EOS.

EOS Tribe in particular deserves a lot of credit for being first to take initiative and announce plans to do something about this. Other groups that have been involved in this initiative are EOS42, EOS Rio, eosDAC, EOStark, Worbli, EOS Store, Cesar Rodriguez, the organizers of EOS911, and the teams at EOSWire & the EOS BP Compliance Data/Research Group. Thank you all for your contributions to the Valor Fund. Team work makes the dream work.