EOS Hot Sauce, volume 9

EOS Nation
May 29 · 12 min read

This Hot Sauce is going to be the last one before B1June. In the next Hot Sauce, we’ll know more about where EOS is going and what is fact and what was speculation. Development keeps accelerating and we have a packed edition today and it’s filled with relevant links for you! Let’s get to it!

Block.One’s Buyback and Unstaking

In the last week, there has been a lot of news from Block.one (B1). One of those announcements was the buyback of shares, namely from Galaxy Digital, an early investor in B1. While some media spun this news in a questionable way, the actual underlying facts are quite positive. Galaxy Digital’s Mike Novogratz himself came out to set the record straight, confirming they are still a B1 shareholder as well as a larger holder of EOS tokens.

It has been disclosed that early investors in B1 were able to purchase shares at a 40 Million USD valuation and in 2 short years this valuation increased to an impressive 2.3 Billion USD, making B1 one of the fastest growing companies in the world. By offering a buyback, B1 is making room for new strategic investors without inflating their balance sheet.

Source: Telegram EOS chat on the 22nd of May 2019

Part of these announcements also revealed details about the B1 treasury.

It is now clear that B1 is one of the few companies that didn’t lose money during the brutal bear market. Furthermore, it was revealed that they are holding a significant amount of Bitcoin (140,000 BTC) as well as 2,2 Billion in liquid fiat assets, which are mainly in US Bonds.

Block.One’s known holdings in EOS, BTC and USD

The fact that they are one of the biggest holders of Bitcoin has sparked many to speculate wildly that B1 plans to use EOSIO to scale Bitcoin. Unfortunately, Brendan Blumer responded with a tweet aimed at calming down some of the June 1st expectations.

The other major event this week was B1’s unstaking of 9.8M EOS on May 24th. This was the maximum they could unstake from their 100M EOS stack which vests at the rate of 10% per year. This also sparked a lot of discussion in the community with many people speculating about what they could do with their newly unstaked tokens.

One thing is clear, they are not planning to sell any EOS at this point, which Daniel Larimer confirmed on Telegram shortly after the unstake.

How we imagine Dan felt updating the community

Then, B1 bought some ram. Lots of it. On May 27th, B1 used 3.3M EOS to purchase RAM, which reserves almost 32 GB of RAM for them on the EOS Mainnet.

The purchase generated 16500 EOS of RAM trading fees which went into the REX Pool and significantly increased the current interest rates for EOS staked into REX.

Meanwhile, B1 keeps pushing new software releases under the label EOSIO Labswhich aim to make development on EOSIO easier via SDKs and other tools. Last week, the EOSIO Explorer was released which lets developers interact with the blockchain via a graphical drag-and-drop interface and other helpful features.

B1 also released the Application Manifest and the Assert Contract which defines new standards for authenticators to improve the security of accounts when interacting with application smart contracts.

Last minute edit: We just noticed 8 new repos on the EOSIO GitHub! Two of those are authenticators for iOS apps and for a Chrome Extension. That’s right, B1 just released their open source iOS wallet app and chrome extension!

Incentives for voters

EOS Nation recently published an article which introduced the idea of Proxy-as-a-Service for discussion and consideration. The article stimulated much needed healthy discussion and we appreciate everyone who shared their thoughts on this with us.

For those of you interested in knowing more, our CEO Yves La Rose went on last week’s EOS Radio show to discuss in further detail and we encourage you to check it out.

In this article, we also formally introduced our proxy, the interNATIONal proxy. Knowing which BPs are truly contributing isn’t always easy to decide. We are confident that we have the technical expertise and experience to be able to pick the best of the best. We encourage everyone to vote for the Block Producers they believe bring value to the EOS ecosystem. Uncertain as to whom to vote for? Proxy your votes to proxy4nation and we’ll do the heavy lifting for you.

Inflation update

In the previous Hot Sauce we introduced different proposals that aim to adjust the current 4% inflation rate going to eosio.saving. These proposals have been a topic of discussion in the EOS Townhall and EOS Alliance calls.

In this context, we would like to mention that EOS Argentina recently proposed a solution for soft coding the inflation parameter in the system contract. The Pull Request for the changes has already been merged by the Block One team to the official EOSIO repository. We applaud the work done by EOS Argentina and will support this proposal once we finish thoroughly testing it.

BOS Ecosystem Program: On-Chain Worker Proposal and Escrow System

With 100 million BOS tokens from the BOS token generation earmarked for distribution to projects seeking funding, an on-chain worker proposal and escrow system is required to bring transparency, accountability and stakeholder oversight to the distribution process.

EOS Nation is proud to have completed development for such a system and deployed it to the BOS Mainnet. Leveraging work and lessons learned from developing the EOS referendum system and borrowing from new innovations developed by eosDAC, we’ve deployed a system that enables token holders to request funds for proposed work, vote to approve funding, and elect auditors to validate work and release funds to developers as milestones are met.

You can find a detailed breakdown of our efforts and costs here.

We have put up a proposal that requests funding for the work that was done on this system. We encourage BOS token holders to review and vote on the proposal via the newly designed interface.

Note: EOS token holders that had EOS in their account on the 1st of January were given a BOS Genesis account automatically. This will show up in Scatter when interacting with the BOS network, simply by switching from the EOS Mainnet to the BOS Network in block explorers like EOSX.io and Bloks.io.

eosDAC

EOS Nation would like to take a moment to show our gratitude for the great work that has been done by eosDAC. They built the DAC framework that we used to help us build the BOS WPS. EOS Nation deeply believe in the revolutionary power of Decentralized Autonomous Communities (DACs) and we know that the BOS WPS is going to be one of countless examples of various communities harnessing the power of the DAC framework. If you are not quite sure what a DAC really is, we encourage you to watch the recent episode of Brock Pierce’s Video series “Meet the Blockers” where Luke Stokes gives a great intro to DACs.

An essential mechanism of DACs are MSIGs (short for multi-signature) where multiple parties are required to sign a transaction before its approved and executed on the network. For example, to enact changes on the EOS Mainnet requires a MSIG proposal to be approved by 15 out of the top 21 Block Producers. Anyone can create MSIGs and they can be used in a variety of ways in order to increase the security of your EOS accounts.

Looking to start practicing and creating your own MSIGs? Check out this MSIG tutorial published by eosDAC.

Everipedia 2.0

An encyclopedia that secures the knowledge of the world with all the benefits of decentralization, like Everipedia, is an unbelievably powerful tool to reduce the amount of misinformation on the internet.

Everipedia 2.0 enters the final stage of private beta testing. Besides a complete overhaul of the UI, the team introduced also a couple of new functionalities of the IQ token. While the platform already migrated on to the EOS Mainnet, the new interface will be launched soon as well.

With the new update, Everipedia uses staking and voting to make sure information is correct. Furthermore, Everipedia plans to offer a new opportunity for passive income, for users that are not actively taking part in the writing process.

In the fashion of EOS’ innovative DPOS system, IQ can now be delegated to people we deem to be knowledgeable and honest in order to increase their voice on the Everipedia platform and to get a share of the rewards they earned for contributing to the knowledge network.

The Co-Founder and President of Everipedia, Sam Kazemian recently published an article where he explains how the future utility of the IQ token can evolve. He elaborates:

“In fact, everyone in the space pretty much knows this setup is called a DAO (or DAC might be more appropriate). I like to think of Everipedia as the first knowledge base DAO. With that said though, I think there’s one more step that needs to be taken to truly make “shareholder voting” in these types of DAOs really reach their potential — delegated shareholder voting.”

Additional new features on Everipedia 2.0 are:

- Advanced Real-Time Chat & Activity Feed on all Articles

- Editor Profiles

- Intuitive Version History

- Advanced Citations

- Advanced Media

- Page Templates

- Curated Lists

- Enhanced Mobile Interface

The IQ token will not only be used on Everipedia, but also on other platforms released by the team such as PredIQt, the first prediction market on EOS.

Greymass rebrands the EOS Voter to Anchor

The EOS-Voter was one of the first interfaces for many EOS token holders to access their accounts on the EOS Mainnet shortly after launch. The product constantly kept evolving and was downloaded more than 130,000 times. Currently, it supports 7 different blockchains and is also the go-to interface to collect the BEOS rainfall.

It’s obviously much more than a voting tool now, so the team recently did a full re-branding while also releasing a couple of new features. Anchor 0.9.0 is a beta version allowing Greymass to start collecting feedback, discovering bugs, and allowing developers to start integrating with a the new signing protocol Greymass is working to establish.

Here are a couple of its features:

  • Redesigned User Interface with a new wallet backend
  • New “Account Overview” screen for a quick glance at all accounts
  • New transaction signing protocol for app/dApp integration
  • Simplified setup process to configure multiple blockchains

We especially enjoyed browsing the new “tools interface”, which nicely showcases all the development Greymass has been doing over time.

In case you already use the EOS Voter but want to give the Anchor Beta a try, rest assured:

It will not overwrite or interact with your EOS-voter installation.

You can download and install it from here

And leave feedback here.

Scatter, another wallet that has been available since launch, is also preparing a major upgrade and recently announced plans to support BTC!

Check out Crypto Tim recent video showcasing Scatter 11 and many of its new features including the integrated NFT Marketplace as well as the Reputation and ID Layer known as RIDL.

Battle Trivia

Currently in Beta, Battle Trivia is a free, live, on-chain quiz show which will soon bring learning about new projects to a new level of fun. Besides the educational entertainment, knowledgeable participants can compete enough to win various tokens and also earn the in-game TRIV token, which allows you to bypass wrong answers to stay in the game.

Battle Trivia is a collaborative project between RocketBC, EOS Lynx and Ben Sigman (Sheos, Sense.chat).

Read more in the official announcement.

While Lynx, shEOS and Sense.Chat are already well known in the community, RocketBC surfaced just recently.

However, the team behind it is actually constituted by well-known members of the community, such as Jae Chung from HK EOS and Orchid from EOSys.

Rocket BC, a fast moving product studio, is planning some additional releases soon.

One of those products will be LocalEOS, which allows OTC style peer to peer trading and another one will be GIVLY, a blockchain-powered social funding platform, supported by EOSIO powered smart contracts.

Crypto Feez, Gain Gang, EOS Nightly, and the EOS Handbook

Quite a unique EOS phenomena is Crypto Feez and the Gain Gang, bringing us fresh news and EOS tracks on the regular.

After Crypto Feez was invited to the EOS World Expo as one of the entertainment highlights of the event, his EOS Nightly stream starting gaining more traction. At the time of this post, Cryto Feez has 613 subs and we want to see him reach 1000! Subscribe to his channel and support one of the most creative content creators in the EOS community!

The EOS Handbook is yet another great project by the Gain Gang, which is a work-in-progress and a one-stop shop to learn and research more about EOS and how to use it.

EOS Listen

Speaking about the sounds of EOS, take a look at this cool website! EOS Listen is an audio-visual experience that represents transactions on the EOS Mainnet. While the source code comes from Bitlisten, Zach Alam did a great job connecting it to EOS. We think that EOS transactions will keep on increasing in volume and numbers in the near future and we are going to like the sound of that!

EOSGO reaches 10,000 followers

One of the fastest news aggregators with a history reaching back to before the mainnet launch, EOS GO is one of our favorite resources to keep up to speed with the developments on EOS. Just recently they surpassed 10K followers on Twitter. Congratulations from EOS Nation! Keep on being awesome.

Dude, where’s my RAM?

RAM is used up in several places i.e. for storing game scores or in-game assets. If the RAM bar in your account is on a high percentage it’s sometimes hard to find out where all that RAM is used. EOS Canada recently released a very useful tool which lets you find out exactly how much RAM is used and where. Find it here.

Pizza Airdrop

The PIZZA-USDE project is going to airdrop PIZZA Tokens on June 8th, 2019. PIZZA Token is the governance token in the PIZZA-USDE Stablecoin System.

PIZZA-USDE is an EOS based two-token stable coin system. The system allows users to issue stable coin (USDE) by collateralizing crypto assets.

Airdrop Details:

Snapshot Time: 14:59:59 Jun 1st, 2019 (UTC)

Airdrop Time: Jun 8th, 2019

Airdrop Ratio: 100 EOS: 1 PIZZA

Total Airdrop Amount: 10 Million

PIZZA Token Total Supply: 1 Billion

MyKey launches KEY token

The KEY token contract has been successfully deployed on the EOS mainnet by MyKey Labs.

KEY was originally issued in 2017 and is the native token for the blockchain content community platform Bihu (similar to Steemit), one of the most prominent EOS knowledge platforms in China.

Long term, the KEY token aims to become a multi-chain asset with multiple usages, while MyKey will become a self-sovereign identity system.

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Gain Gangs’ Crypto Feez presents the EOS Anthem: “June 1st”

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Disclaimer: The information provided above does not constitute investment advice, financial advice, trading advice, or any other type of advice whatsoever, and the information on our website should not be trusted as such. We present this information to you as general market commentary. The information does not constitute investment advice or any professional financial advice of any sort whatsoever. We do not advise or recommend that you buy, sell, or hold any cryptocurrency, digital token, ICO, or digital asset whatsoever. We advise users to conduct their own due diligence and consult with a qualified financial advisor before buying, selling, or holding any type of digital asset or cryptocurrency. We will not be held responsible for any investment decisions made based on the information provided on the website.

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Top 21 Block Producer on the EOS Mainnet blockchain. eosnation.io