Background
Block producer candidates GenerEOS, EOS Rio, shEOS and Node One have teamed up with the aim of democratising and streamlining the exchange voting process. We have implemented a FREE open source end-to-end voting framework that any exchange can utilise with minimal integration efforts, and offer their users the ability to participate in the EOS block producer voting process.
EOS is a delegated proof of stake (DPOS) blockchain with 21 block producers (BPs) actively running, securing and governing the network. On top of those active producers there are hundreds of block producer candidates competing to become an active producer. EOS token holders can vote for up to 30 of their favourite BPs per EOS they own and have staked. The 21 block producers with the highest number of votes at any given time are automatically set as the current active block producers.
With hundreds of block producer candidates to choose from, it can be overwhelming for some community members to decide which BPs to vote for. They must diligently research each team, or delegate their voting power to a proxy with a voting philosophy that aligns with their values.
Either one of the voting options above requires the user to have active control of their EOS account to vote on-chain. Since a lot of EOS token holders keep their EOS tokens on custodial crypto exchanges, they cannot use their tokens to vote and are therefore excluded from an important component of the EOS governance process. Some exchanges have integrated voting tools, some just vote for the BPs they like or that they are affiliated with, while other exchanges avoid the crossfire by not voting at all.
FREE Open-source Framework
The framework consists of several software components that an exchange IT department can install on their own server infrastructure and configure with minimal effort to provide a consistent, customisable and user-friendly voting portal.
Benefits
- Easy to install and integrate into an existing exchange portal
- Easy to configure and customise
- Easy to use by exchange users
- Supports management / voting with a combination of hot and cold wallet accounts
- Secure management of voting keys / supports and promotes best-practice security standards
- Real-time notifications — integration with social networks such as slack / yammer (v2)
Voting User Interface
The framework provides boilerplate code to integrate a user interface for the listing and selection of block producers / proxies as well as the current breakdown of user votes for the exchange. To ease the portal integration process with the exchange, we provide a UI template in a popular front-end framework React.
The user interface will include user authentication sample code to be implemented and branded according the exchanges user portal. The voting front-end will communicate with the backend on a separate instance with authentication running between these two components. This is to ensure it is completely separate from the exchanges critical backend infrastructure. In version one users will only be able to vote on proxy accounts for simplicity. Users can browse through a list of proxy accounts and view each account’s philosophy and relevant links
Exchange Admin
The framework includes a simple user interface for administration purposes. This module can be used to:
- Query the backend and present the list of proxies with their total votes (default sort order by number of votes as voted by the exchange users)
- Present basic statistics: e.g. how many exchange users have participated in the voting process, how much total EOS combined do those users have in the exchange.
- Present and manage the list of exchange accounts with voting recommendations formulated by the backend system based on the amount of EOS staked in each of the accounts and votes received for the various proxies.
- Generate transactions to vote for all managed exchange accounts based on the voting recommendations worked out.
Featured Proxy Accounts
In order to ensure fair and geographically diverse voting for block producers, the framework development team will offer 5 pre-selected or featured proxy positions at the top of the proxy list. The selection of these featured proxies is at the discretion of the development team in conjunction with the exchange partner. We are currently taking interest from proxies that would like to be a pre-selected or featured candidates. If you would like to be considered, please email your interest to eosvotegroup@genereos.io explaining your vote philosophy and how it meets our criteria.
Key Proxy Selection Values:
- Geographical Diversity;
- Technical Competence;
- Community Participation;
- Strong presence in Governance; and
- Development of Tools.
Framework development team may also launch its own proxy to be included
EOS Needs This!
In the current state of the EOS Mainnet it is vital that exchanges implement this framework so that the tens of thousands of EOS token holders on exchanges can contribute to the governance of the chain. This in turn will create the digital democracy and overall health of the chain that we all desire.
How can you help?
We are currently in talks with some of the major exchanges and are polishing the open-source code to reflect easier adoption. We need as much community support as possible to get this out there. Please rally exchanges to adopt this free open source framework and ask them to reach out to us. If you have any contacts at exchanges please forward them on — eosvotegroup@genereos.io
Open-source Framework — Github
Join the discussion on — Telegram!
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GenerEOS | shEOS | EOSRIO |EOS Node One
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