[EOS Inside] Introducing the EOSREX.IO Smart Proxy
Hello, this is EOSYS’ supporter dOne (@donekim). We are approaching the days to actually use REX on the mainnet, as over 15 BPs approved the second proposal for REX’s EOS mainnet distribution.
At the same time, the EOSREX.IO Smart Proxy, which is different from the existing proxy and whose votes for more than 30 BP candidates are renewed in real time, has launched. Today, I will be introducing smart proxies.
Original Link: Introducing the EOSREX.IO Smart Proxy
#1. What is a EOSREX.IO Proxy?
The EOSREX.IO proxy facilitates the voting for all block producers who play a key role in maintaining a robust, healthy, and growing EOS ecosystem while easily meeting the basic requirements for EOS token holders to participate in REX Lending.
[Reference 1] What is a proxy?
Any EOS Token holder who owns an account on the EOS Mainnet will be able to vote for Block Producer candidates by staking their tokens. Proxy is a proxy voting method for token holders who are unable to constantly update their voting status or vote decay by continually checking ecosystem contributions and activities of BP candidates. The proxy account will enforce a proxy vote by delegating the voting weights equal to the number of EOS tokens that the token holders are staking into their account
[Reference 2] Basic requirements to participate in REX Lending?
REX is based on functioning as an incentive to participate in on-chain governance. Therefore, in order for token holders to participate in REX Lending with the EOS tokens in their accounts, or those that are staked, they must meet the basic requirements of “directly voting for 21 or more BPs”, or “participating indirectly through proxy voting”.
#2. What is a smart proxy?
On the EOS Mainnet, token holders can vote for up to 30 BP candidates. Therefore, current generic proxy accounts also support voting for up to 30 BP candidates.
However, the EOSREX.IO proxy supports the voting of all BP candidates in the list using the smart contract. Based on real-time ranking data, including the factors described below, it is possible to support votings for more than 30 BP candidates by dynamically updating BP candidate vote lists every 24 hours.
Currently, the list of BP candidates that support voting in the EOSREX.IO proxy lists a total of 49 BP teams, and each BP candidate has an “importance quotient”, depending on how they contribute to the creation of a healthier EOS ecosystem. This importance quotient is consisted of 0s to 10s, with the highest importance index being 10.
The “importance quotient” assigned to each BP candidate is based on the relative contribution of the BP to the stronger, healthier and growing EOS ecosystem. In more detail, efficiency of the node operation, contribution to the ecosystem such as tool development, regional and other factors are considered, based on useful tools and data provided by various communities and AlohaEOS.
#3. The proxy voting list of EOSREX.IO
The proxy voting list of EOSREX.IO consists of 49 BP candidates as follows. The “importance quotient” assigned to each BP is as follows
eosauthority, 10
eosnewyorkio, 10
eoscanadacom, 10
eosdacserver, 10
teamgreymass, 10
eos42freedom, 10
eosswedenorg, 10
eosriobrazil, 10
cypherglasss, 10
eoscafeblock, 10
eosnationftw, 10
eosasia11111, 10
argentinaeos, 10
eosiomeetone, 10
eosyskoreabp, 10
eoscannonchn, 10
cryptolions1, 10
aus1genereos, 10
eosliquideos, 10
eosisgravity, 10
eoseouldotio, 9
eosphereiobp, 9
eosdublinwow, 9
eostitanprod, 9
alohaeosprod, 9
atticlabeosb, 9
hkeoshkeosbp, 9
blockmatrix1, 9
sheos21sheos, 9
starteosiobp, 9
eostribeprod, 8
tokenika4eos, 8
libertyblock, 8
eosamsterdam, 8
blocksmithio, 8
oraclegogogo, 8
eosiodetroit, 8
eosnairobike, 8
eosvenezuela, 8
costaricaeos, 8
auroraeoscom, 8
eosmatrixeos, 8
eosnodeonebp, 7
eosfishrocks, 7
eosvibesbloc, 7
eossv12eossv, 7
eosmetaliobp, 7
bitspacenode, 7
sanfranc1sco, 7The list can be changed and updated at any time in real time, and the real-time list of BP candidates supported by EOSREX.IO can be found directly on the link below.
[Note] To check the list, click the link above and click Contract → Contract Tables → prods.
#4. BP voting updated in real time
For dynamically acting smart proxies, 30 BP voting lists are updated in real time via the smart contract every 24 hours. For this dynamically recurring voting system, contract importance, real-time ranking data, and ranking threshold that are assigned to each BP are taken into consideration in the smart contract.
Most of the existing entities currently running a proxy account are also responsibly updating their voting status. We must pay attention to prevent the occurence of voting decay, reward the BPs for their contribution to the ecosystem through votes, and initiate immediate updates by giving penalties to BPs that are corrupt, or disoriented.
Nevertheless, as this system is created and operated by humans, there are occasional mistakes and delays in updates.
The EOSREX.IO proxy will soon release “smart proxies” as an open source. Soon, other proxies will be able to take advantage of this smart proxy feature, making fair and active voting support available for all BPs that contribute to the ecosystem through their activities, without a voting number limit of 30 :)
