First Eden on EOS Election Receives Funding from EOS Foundation
The volatile world of crypto continues, showing us how easy it can be for a crypto project to make new all-time highs, and just as quickly reverse any recent monetary gains one may have had. Love it or hate it, I would say times like these show us the importance of having our investments allocated to crypto projects that can produce results no matter the season. And in this area, the EOS main-net blockchain is most certainly showing that it is more than capable of keeping up with changing times. In this video we will be going over a recent article I read by Daniel Larimer called, "First Blockchain Election using Eden on EOS receives grant from EOS Foundation" and I will be giving you my opinion on why I believe this is bullish for the EOS main-net. The link to the source article will be in the description below. OK, now let's get started.
To summarize and paraphrase, the article first begins with, the Clarion-OS team is proud to announce the first-ever on-chain Eden on EOS election today! The team has been hard at work behind the scenes for the past several months, building and testing an intuitive, EOS smart-contract-driven interface for facilitating fractal elections and transferring cash to delegates chosen as a result. Now we're putting the finishing touches on it.
Furthermore, the freshly financed EOS Foundation has pledged to contribute 200,000 EOS (about $1.2 million) to the Eden community's treasury, plus an additional 200 EOS (approximately $1200) per Eden member who joins before the election. The elected delegates will distribute this total pool of funding.
The EOS Foundation and its advisory board chose Eden as a funding candidate to serve as an early showcase for how network funds can be distributed to empower a wide range of value creators within the EOS community, in keeping with our mission of enabling developers, businesses, and individuals to build on and create value for EOS.
The EOS Foundation has also approved a $100,000 EOS grant to Clarion-OS to compensate the Clarion-OS team for their effort spent planning, constructing, and implementing Eden on EOS. Clarion-OS will continue to fund the development of tools for the EOS community in advance in the future, and the community can choose to reimburse us after reviewing our work via Eden or the EOS Foundation.
To participate, you must first be an Eden member. If you haven't yet received an invitation, please make introduce yourself in the EOS-Community forum and use Telegram to contact members.
To vote in the election, you must be a member who has opted in. To do so, go to the Election page, sign in with your EOS account, and announce your intention to vote in the election. The deadline to register is 24 hours before the election.
What's on the line? The Eden treasury will now have over 238,000 EOS, thanks to the EOS Foundation's latest pledge. Dues from new members and any donations received between now and the second election will only add to this total. According to the delegate money disbursement plan, the elected delegates will get 5% of the entire treasury each month.
Funding will be provided monthly to all levels of delegates according to an algorithm that will give the leader a monthly budget of roughly 4000 EOS. The next tier below (about 8 delegates) would receive around 500 EOS per delegate, and the layer below that (approximately 40 delegates) would receive approximately 100 EOS each delegate. The overall number of Eden members and the number of groups that agree on a representative will determine the actual financing per delegate. One in every five Eden members (20%) who vote in the election will be awarded a budget to help the community achieve great things!
Beyond that, and perhaps more importantly, this is a significant step forward for decentralized governance on the EOS public blockchain, as well as for Fractal Governance in general. We anticipate Eden playing a far larger role in the future governance of the decentralized platform if on-chain elections are successful. EOS is forging the way for fractal representative democracy in the future! And you have the chance to take part in it.
Well, there you have it. As the saying goes, talk is cheap, and I would say that the EOS Foundation and the Eden-on-EOS community are certainly not only talking the talk, but they're also walking the walk! And putting up significant funds to fund the EOS main-net community, I am reminded of a quote from a famous movie I once watched called Jerry Maguire, and yes... I am thinking about the famous iconic line heralded by Cuba Gooding Jr. Yes, I am speaking of that famous line… "Show me the Money!"
Finally, the organized EOS main-net community is monetizing the activities and behaviors that will take EOS main-net to the next level. I could not agree more with the actions of the EOS foundation on their recent grant, as well as reimbursing the Clarion OS team for development work. As the article stated and I quote,
"Clarion-OS will continue to fund the development of tools for the EOS community in advance in the future, and the community can choose to reimburse us after reviewing our work via Eden or the EOS Foundation."
I believe this will be a very beneficial relationship between the EOS main-net community, and Daniel Larimer's Clarion OS team.
It is comforting to know that we can rely on them in the future for future development initiatives. I love it when a plan comes together, and the excitement is beginning to bubble over. And no matter what fear, uncertainty, and doubt exist, it's becoming increasingly difficult for our naysayers to continue, these same old tired lines that they have been accusing us of, time and time again, despite how many times we have proven them incorrect and false. The EOS main net is no longer waiting for people to wake up to the truth of the reality of fact. The EOS main net community, is just simply moving forward, and as this snowball begins to roll downhill, and pick up speed, we will eventually become an unstoppable juggernaut that will out-build and out-incentivize all who get in our way.
To all EOS holders, it's time to build.