A new proposal for a Worker Proposal System on EOS

EOS Nation in collaboration with Attic Lab, redesigned how a Worker Proposal System can be implemented within the EOS mainnet. The system has already been developed and is available on Github. In order to launch it, the approval of the top 21 block producers is required. But how should this WPS work?

The smart contract of this WPS is already being tested in the Jungle testnet, under the account wpswpswpswps. Anyone with a Jungle account can already test it by submitting proposals.

How does it work:

1. Anyone can submit a proposal by paying a fixed fee of 100 EOS (non-refundable, used for WPS support).
2. For each period 25,000 EOS will be made available in the WPS
3. Each period lasts 30 days
4. All paid (both standby and active) block producers can cast a vote: +1, -1 or 0.
5. Proposals with a score higher than 20 pass
6. The funds of the Name auction account (eosio.names) and RAM transaction fee account (eosio.ramfee) (currently accumulated about 3.5 million EOS) will be used to fund the WPS.
7. All proposals that have not passed during a given period will be considered expired.
8. Proposals can't be changed after they have been published

Deployment process:

These will need the approval from 15+/21 active block producers

1. Create the eosio.wps system account
2. Deploy the smart contract
3. Set initial parameters
4. Fund eosio.wps with an initial sum of 50,000 EOS for the first 2 periods.
5. Start the first period

Sources:

• EOS Worker Proposal System (WPS)
• EOS Nation Github: EOSIO WPS

Suggested News

Block.one to Pay $27.5 Million, Settle Class Action Lawsuit

Block.one

2021-06-15

Recently, Block.one reached a settlement with the Crypto Assets Opportunity Fund, which previously filed a class action...

Chintai Partners with Chimera Wealth

Chintai

2021-06-28

Chintai recently formed a strategic partnership with Chimera Wealth, a California-registered investment advisory firm, ...