EOS is making the new voting system with over $200 million on the Line,
There’s an account on the EOS blockchain with $35 million worth of tokens in it that no one can touch – and its balance is growing constantly. This could help investors to be more connected to the team of EOS. At the end of EOS’ first 12 months as a live blockchain, this account will be worth close to $192 million, assuming the recent EOS market price of $4.79.
The community of EOS has set up all the money has been set aside to fund all sorts of initiatives that might be beneficial to them, building out new tech features, conducting security audits, sponsoring meetups, hiring lawyers and lobbyists.
But there’s one problem: there’s currently no system in place to actually allocate the funds.
In the month of June, the EOS blockchain network was incomplete when it was live with much of the functionality stipulated in the network’s “Constitution ” and white paper remaining unbuilt. A key aspect of the EOS protocol was, according to the white paper, “a defined governance process” which avoided other blockchains’ “ad hoc, informal, and often controversial governance processes that result in unpredictable outcomes.”
Highlighting what needs to be done to push EOS forward, Daniel Keyes, the co-founder, and CEO of EOS Nation, a standby block producer, he said:
“There was no referendum system built in at launch, so it’s up to us as a community to come together and build that.”
And moving on that advice, Keyes is acting as project manager for a team composed of different block producer candidates, who are working together to build the referendum system.
At the same time, a group known as the EOS Core WPS Working Group is developing the “worker proposal system” or WPS, a mechanism described in the EOS white paper that would be used to submit proposals and allow token holders to vote on whether to fund them using tokens from the eosio. saving account.
These are the highlighted words:
“We’ve got this worker proposal fund collecting a million dollars a day that we can’t do anything with, we’ve got an interim constitution that people are eager to make changes to, so we want to get something to market as soon as possible.”