Proposer: Jeepool Jiuzhouziben Corce team
EOSFORCE.IO an EOSIO-based blockchain with different governance concepts, has been running stably for one year. EOSFORCE.IO’s governance has been gradually recognized by the community in practice. As the world's first large-scale network of practice in Staking Economy, EOSFORCE.IO was the first to encounter some system models and community governance related issues. This proposal will propose improvements based on current network operations and community governance for community discussion and block producer’s parliament voting.
BP: It indicates the block producer, or the super node. It’s one of the top 23 nodes based on the weighted votes ranking.
Profitable node: A registered node that can obtain the rewards of voting.
Current voting: There is no fixed period for users to participate in voting.
Fix-time voting: Users choose to vote in different voting time periods.
Weighted votes:The number of votes calculated according to different weights of the current voting and fix-time voting
Time periods presented in this proposal are the corresponding block heights on the chain. For ease of understanding, the time periods are used in this proposal.
1. Adjust the inflation rate
It is recommended to adjust the inflation rate. The additional issue amount is 20% of the total amount of the previous year's token.
2. Adjust the voting weight
Users participating in EOSFORCE mainnet voting can choose the current voting and the fix-time voting.
Fix-time voting: users can select different voting periods to vote. The time periods are the block heights corresponding to 3 months, 6 months, 12 months and 24 months respectively. The tokens are locked during the fix-time voting period and automatically unlocked when it expires.
Current voting: Users can vote without fixed period, and the voting tokens can be redeemed at any time. The redemption needs 3 days to unlock the block height.
Weight of current voting: it is 0.2.
Weight of fix-time voting: 3 months, 6 months, 12 months, 24 months correspond to different weights of 1, 2, 4 and 8 months respectively. Rewards of fix-time voting can be received at any time. The weight of the votes will be zero clearing after the votes expire.
- Rewards of fix-time voting can be received and re-invested at any time, but the principal cannot be released before the end of the fix-time period.
- Fix-time voting and current voting can switch nodes at any time, just paying the fees of the system itself.
- The redemption of current and fix-time voting still requires a 72-hour block height redemption period.
If this proposal is implemented, a transition period is required for the redemption of the vote. It is recommended it takes effect after the upgrade being implemented 3 days later.
3. Reward and punishment mechanism of nodes’ block-generating
Node ranking is adjusted to be based on weighted votes.
BP node needs to provide a deposit, and the minimum amount of deposit is 2 times of the node’s block-generating income at 2400 blocks height.
The deposit will be deducted for the block missing of the block-generating node, and twice the deposit of the reward of the block will be deducted for each less produced block. More than 2 hours, it can propose to punish and offline the block height corresponding to the missing block and shorten the penalty time of missing block as time goes by.
- The weight of votes will not be affected when the node changes.
- Propose that punishment to make node offline must meet the requirement that the voting agrees are more than disagrees by 10 votes. The penalty for missing blocks is split equally between the user who proposes the penalty and the profitable node who votes "yes" (50% for the proposers and 50% the nodes who votes yes). There is no reward for voting users when they are punished. After the penalty period, the nodes can make up the deposit to enter the normal election and get the income of voting.
- The development team needs to improve the basic tools of operation and maintenance.
4. Node rewards
The EOSFORCE mainnet nodes are divided into BP nodes and profitable nodes.
1、10% of the total amount of inflation is distributed by the block-generating nodes in proportion to the number of blocks.
2、10% of the total amount of inflation is distributed by all profitable nodes’ rewards according to the proportion of voting weighted votes.
- For 50% of the total amount of inflation, the nodes can freely adjust the dividend ratio.
Any node rewards can be received when the rewards are over 100 EOSCs.
5. Establish a decentralized budget system
- By establishing a decentralized budget system on the chain, anyone can initiate a budget proposal. 30% of the inflation issue goes into the budget system and does not impose a total amount limit. The decentralized budget system has separate account permissions, and account permissions are owned by the system. The approval authority is owned by the management committee.
- The sponsor needs to pledge 100 EOSC as deposit for the proposal to prevent bad proposals. The deposit will be returned after the proposal is passed.
- The proposer needs to specify the objectives of the proposal, the implementation details (cycle, cost, amount) and the return that the proposal will bring.
- After the proposal is approved by the management committee, there will be a 7-day publicity period. If more than one-third of the profitable nodes are opposed during the publicity period, the proposal can be rejected. If the proposal is not rejected during the publicity period, the system will automatically issue the award to the applicant's account on a monthly basis after the publicity period. During the award payment period, the management committee and the profitable nodes are greater than one-third of the veto, and the proposal award can be suspended.
- After the proposal has passed the publicity period, the proposer will get the EOSC tokens applied for in the next block award to implement the proposal content.
- Establishing the EOSFORCE Mainnet Management Committee mechanism
The EOSFORCE network management committee is designed to manage and approve proposals for a decentralized budget system, monitor the implementation of the sponsors, and promote a more equitable distribution of the decentralized budget system. Hereinafter referred to as the management committee.
The initial membership of the management committee shall be 7 seats, followed by 2 seats every six months with a maximum of no more than 100 members.
Any individual or organization may run for membership of the management committee. The governing council is made up of the top seven members from the first 100 profitable nodes, and the yes vote is 10 more than the no vote.
The management committee has the right to review and approve the decentralized budget system, but does not have the ownership. The ownership is owned by the system.
The initial three members of the management committee are elected by the development team and the other four members are elected by the community.
The term of the development team is tentatively set at 2 years, and the personnel shall be designated by the development team; The term of office of community quota is six months, each person can at most serve two terms.
For a smooth transition, it is recommended that the management committee be managed by the development team for the first 3 months. The transition begins after three months, with the withdrawal of one seat per month until three seats remain, and the community sets the selection criteria for the members of the management committee during the three-month trusteeship period.
All proposals need the approval of more than two-thirds of the management committee to become effective.
The management committee shall set up an impeachment mechanism. Anyone who initiates impeachment can initiate impeachment, and any member who passes the vote of more than 1/3 profitable node can be impeached.
Election criteria for the management committee are set by the block producers.
7. Establish a referendum system
Establish a referendum system that has the ultimate power on the chain, and more than two-thirds of the votes can veto any resolution.
The above is only a proposed scheme, and the final result is still to be determined by the EOSFORCE mainnet block producers parliamentary voting.