Network Economics Update - 6/11/18

The Livepeer network is currently in round 1002 which is the 41st round since the launch of the network on May 1st 2018 which was round 961. Below are the latest observations on the state of the Livepeer network economy:

Parameter Value Notes
Total LPT Supply 10,077,323 The total supply of LPT
Total LPT Generated 77,323 The amount of inflationary LPT that has been generated by calls to reward() by transcoders and distributed towards those who stake and delegate their token. This amount is in addition to to the initial supply of 10,000,000 LPT at network launch which is being slowly released over a 36 month period via the MerkleMine and vesting grants
Total LPT Staked 149,014 The amount of LPT that is currently staked
Participation Rate 1.48% The percentage of all LPT that is being staked. The target rate is 50% which should take at least 12-18 months to approach due to the slow release of LPT in the MerkleMine
Inflation 0.0263% The current per round inflation rate. Every round that the participation rate is below 50%, the inflation rate will increase by .0003%
Current Mintable Tokens 2650 The amount of LPT that can be minted this round and distributed towards those who contribute work on the network by staking and delegating tokens
  • The two biggest movers in the total stake rankings for transcoders this past week were 0xa20416801ac2eacf2372e825b4a90ef52490c2bb and 0xbe9a8b21353ea73794553c154c6c9a06823fcd11 who are now occupying the number 2 and number 3 spot in the rankings respectively. 0xa20416801ac2eacf2372e825b4a90ef52490c2bb saw its largest increase in total stake for the week from round 997 to round 998 with 18,916 LPT (including inflationary rewards) added to its total stake. 0xbe9a8b21353ea73794553c154c6c9a06823fcd11 saw its largest increase in total stake for the week from round 997 to round 998 with 20,187 LPT (includes inflationary rewards) added to its total stake.

  • 0xa20416801ac2eacf2372e825b4a90ef52490c2bb is advertising a 3.5% reward cut which is the lowest of all active transcoders. 0xfb9849b0b53f66b747bfa47396964a3fa22400a0 still has the greatest total stake, but is advertising a higher 6.5% reward cut that will also likely increase over time based on the operator’s thread. It will be interesting to see if 0xa20416801ac2eacf2372e825b4a90ef52490c2bb will overtake 0xfb9849b0b53f66b747bfa47396964a3fa22400a0 in the coming weeks by advertising a low reward cut to appeal to delegators seeking greater reward shares.

  • 0xfdcd7840908990db1915b2e9d1ae68af6086a00b is right on the cusp of breaking into the active transcoder set - it has 2483 total stake which is only 316 less than the total stake of 0x9d2b4e5c4b1fd81d06b883b0aca661b771c39ea3, the current active transcoder with the lowest total stake. Additionally, 0xfdcd7840908990db1915b2e9d1ae68af6086a00b is advertising a 40% reward cut which is lower than the 45% reward cut of 0x9d2b4e5c4b1fd81d06b883b0aca661b771c39ea3 which might be more appealing for delegators currently delegated to 0x9d2b4e5c4b1fd81d06b883b0aca661b771c39ea3 especially if 0xfdcd7840908990db1915b2e9d1ae68af6086a00b chooses to further decrease its reward cut.

In the interest of providing greater transparency for delegators around which transcoders are reliably calling reward each round, below is some information on which transcoders missed reward calls this past week:

  • Round 996
    • 0xbD91C9DF3C30F0e43B19b1dd05888CF9b647b781
    • 0xFdCd7840908990dB1915b2E9d1AE68aF6086a00B
  • Round 1000
    • 0xbD91C9DF3C30F0e43B19b1dd05888CF9b647b781
    • 0x481Efb669B423CfAffA49890205427dEa9B3d693
  • Round 1001
    • 0xbD91C9DF3C30F0e43B19b1dd05888CF9b647b781