Help give thousands of dollars to Scatter to help fund future development just by casting a vote!
by Douglas Horn
The Telos worker proposal system is open for voting. One of the first funding proposals, if approved, will transfer 50,000 TLOS to a Telos account controlled by Scatter. Scatter users who want to see more funds go to the company so they can continue development of their tools should use their Telos accounts to vote for this proposal.
The Telos worker proposal system (WPS) is the first of its kind in blockchain. Any Telos account holder can create worker proposals and vote for them. Everyone who had an EOS genesis account also has a corresponding account already created for them on the Telos blockchain with the same account name and original keys, making them able to vote for this proposal.
The Telos Worker Proposal System
Telos WPS is managed entirely on the Telos blockchain and any proposal that is approved by the voters is credited directly to the recipient’s account without any need for off-chain action. Telos WPS proposals leverage two Telos-specific innovations: Telos IPFS decentralized storage for storing a description of the proposal that cannot be altered, and Telos Trail voting which is an auxiliary voting system that allows voting for governance features such as WPS, ratification and election of arbitrators.
The Scatter proposal, “Reward Scatter for Supporting Telos” is WP #3 in the Telos system. It opened for voting Friday, March 1st at 1:20 UTC and will close Saturday, March 30th at 0:46 UTC. At that time, if the proposal has a simple majority of yes votes, and has passed the necessary threshold of 5% of voteable tokens being cast, then upon closing the ballot, a transaction for 50,000.0000 TLOS will be transferred to the account ‘scatter.tlos’ on the Telos blockchain. You can read the proposal here: https://ipfs.telos.miami/ipfs/QmUyXMxc3czoDdyR8aoS4BXSjWTrHxyR1GBQayiGXS1HDT/
Telos worker proposals are funded by 1.5% annual inflation that accrues to the system account ‘eosio.saving’ every 30 minutes. The account currently holds 1,034,100 TLOS and grows by about 430,000 TLOS every 30 days. At the recent TLOS token price of $0.12/TLOS, the proposal would be valued at $6,000.
There is no need to “claim” Telos genesis accounts, they have already been created and funded. (Stay away from websites that say otherwise — there are some phishing sites around.) You only need to enter your private keys into the multi-chain wallet of your choice to use your Telos account. Anyone who already has their EOS genesis account loaded into Scatter with the original keys can simply add the Telos mainnet under “System | Networks” and Scatter will find the Telos account automatically.
The Telos Users Guide contains a chapter on WPS with a voting tutorial: https://medium.com/goodblock-io/telos-users-guide-51fde3161908
Currently, the easiest way to vote for Telos worker proposals is using Sqrl wallet which has a built-in governance portal. (available for download from https://telosfoundation.io/downloads)
For anyone who wants to vote for the Scatter worker proposal using Scatter, itself, there will soon be online portals for proposing and voting on Telos WPs. These are likely to be available before the end of the voting cycle. However, you can vote today using Scatter at the EOSX blockchain explorer using the smart contract interface.
Telos WPS voting using smart contracts
Trail voting requires three transactions: regvoter, which registers the account as a voter, mirrorcast, which updates your VOTE token balance to match your current TLOS balance, and castvote, which casts your vote. Sqrl wallet and the upcoming online portals create all three transactions for you, but in voting from the smart contract interface, you will have to do each transaction manually. Fortunately, this is very easy to do.
To vote for the Scatter proposal using the Smart Contract interface:
- On EOSX, select the Telos Mainnet and the account ‘eosio.trail’, then “Send Contract Actions à” or simply go to https://telos.eosx.io/tools/contract?sub=interfaces&contractAccount=eosio.trail
- The first time you vote from an account, you must register it with the Trail voting system. To register from EOSX, select the action name “regvoter” and enter the following data: Under “voter” input the name of the Telos account you are using. Under “token_symbol” input “4,VOTE” (VOTE token with 4 digits of decimal precision). Click the button “Push Transaction” and sign using Scatter.
3. Once per day you can update your VOTE balance to match your TLOS balance. To do so, select the action name “mirrorcast” and enter the following data: Under “voter” input the name of the Telos account you are using. Under “token_symbol” input “4,TLOS”. Click the button “Push Transaction” and sign using Scatter. (Yes, this is very nearly the same as the first action.)
4. To cast your vote for Scatter in this worker proposal ballot, select the action name “castvote” and enter the following data: Under “voter” input the name of your Telos account. Under “ballot_id” input ‘6’ (the id of this particular proposal). Under “direction” input ‘0’ for NO, ‘1’ for YES, and ‘2’ for ABSTAIN. Click the button “Push Transaction” and sign using Scatter.
This worker proposal is a way to provide funding for Scatter from community funds. Telos worker proposals provide a way to direct funding to the projects, tools, and teams that Telos voters most want to reward. In my view, Scatter is richly deserving and a great infrastructure investment for Telos voters. Over time, users can create more funding proposals to provide ongoing support or special funds for particular initiatives, for whatever important infrastructure the Telos community values. Hopefully, one day more EOSIO chains will find ways to drive funds into building and supporting those who support the EOSIO community.
About the author:
About the author: Douglas Horn is the Telos architect and whitepaper author, and the founder of GoodBlock, a block producer and app developer for the Telos Blockchain Network.
More about GoodBlock can be found at: www.goodblock.io
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Vote for GoodBlock on the Telos Blockchain Network @goodblocktls