EOS Worker Proposal System Will Fund Ecosystem Development

EOS may turn to a DAO-like model to fund ecosystem development, but CEO Brendan Blumer has expressed concerns.

Two block producers have revealed the details of EOS’s Worker Proposal System, which will allocate funding to developers and creators that wish to build on the EOS blockchain.

EOS Nation and Attic Labs revealed the specs for WPS in a Mar. 9 YouTube video, which was released alongside a new website that demonstrates a testnet version of WPS.

EOS Worker Proposal System Will Fund Ecosystem Development

EOS WPS In a Nutshell

WPS allows any EOS coinholder to propose and vote on funding proposals. Once a 30-day voting period concludes, funds will be paid out based on rules coded in a smart contract.

Funding for winning proposals will be drawn from EOSIO accounts that originally gathered revenue from account name auctions and RAM fees. Right now, 50,000 EOS ($100,000) has been set aside for WPS, but the balance may be topped up with another 25,000 EOS in the future.

To prevent spam, users who wish to request funds for their own projects or another project will need to pay a 100 EOS fee. Proposals will also need to pass certain voting and budget thresholds.

WPS will act as a supplement to current funding sources, such as VC backing and in-app revenue. Read More...

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