Telos Improvement Proposal: Telos “Original” Snapshot

TIP: 0009

(Update: the Community Rewards Program mentioned in this report is now closed.)

Title: Telos “Original” Snapshot Creation

Authors: Douglas Horn, douglas@goodblock.io

Status: Draft

Type: Protocol

Created: 2018–09–26

Abstract

The creation of an official Telos “original” snapshot in place of a published Telos “genesis” snapshot that would be captured at block 6,000,000, 29 days after network activation and capturing the current balance of all Telos accounts that have performed one action or more by that time to reward Telos early adopters.

Motivation

Several current EOS owners who were not a part of the original EOS ERC-20 snapshot have expressed legitimate concern about Telos using this snapshot for creating our initial token balances as opposed to a more recent one. We have already discussed why this is necessary [LINK TO ARTICLE]. However, there is one element of the Telos community’s comments that we could respond to. This TIP aims to call attention to what we could improve and proposes a simple way to be more inclusive with our community and responsive to their concerns in this area.

Rationale

Recently, a new point has been raised about one unintended consequence of using the EOS ERC-20 snapshot. It is that by using this snapshot, we are rewarding EOS early supporters and backers. However, if a slightly modified version of this snapshot also becomes the Telos genesis snapshot, then there is no opportunity for the Telos early supporters and participants to have their participation rewarded by future airdrops and any other type of rewards meant to include the earliest backers of the project. This is an absolutely valid concern. Why should Telos not capture a record of those who embrace the network early on? And by the same token, why should Telos capture those accounts that may never engage with the network or only to sell off their tokens immediately. And a final crucial concern is that a true genesis snapshot would not include members of the Community Rewards Program who are engaging with the world to raise the Telos profile.

Specification

To solve this problem, Telos should eschew any actual “genesis” snapshot, which would really just be a slight modification of the EOS genesis snapshot with three additional accounts and replacements of lost keys. Instead, I propose the Telos “original” snapshot to occur at block 6,000,000 on the Telos mainnet (29 days after activation at block 1,000,000) which will serve as the “official” first Telos snapshot, to be maintained on the network as proposed in TIP-3 for the use of any airdrops or other rewards programs in the future that may wish to reward or distribute to the original backers of Telos.

The Telos “original” snapshot will capture the balance of every Telos address that has opted-in and accepted the Telos Blockchain Network Operating Agreement but performing any action (voting, staking, unstaking, transfer, et cetera). This will allow Community Rewards Pool members, new TLOS token purchasers and others to be recorded and will encourage early participation in the Telos network.

Discussion

(discussion is open)

Copyright

This document is in the public domain

Read ‘Telos Improvement Proposal: Telos “Original” Snapshot’ on Github: https://github.com/Telos-Foundation/tips/blob/master/tip-0009.md