Transcoder Campaign: 0xA204 Transcoder - 🇭🇰Asia Hong Kong

[ansonlau]

Hi! I am Anson from Hong Kong, blockchain developer & cryptocurrency enthusiast . I got into crypto space in 2016. I have been following livepeer more than half year, really love the idea of livepeer. I want to support and contribute for this project in different ways.

2/7/2018 - Latest Updates

18/6/2018 - RewardCut Usage Distribution

What are my intentions?

• Love to know underlying the whole system how it works, so one of the best ways is to participate into part of the system components.

• To make the livepeer transcoder network become more robust and decentralized, having different locations transcoder is needed.

*I am willing to support livepeer in the long term.

Start staking on my node NOW

0xa20416801ac2eacf2372e825b4a90ef52490c2bb

Rewards/Fees distribution & usage

-Partial rewards will be used to upgrade the hardware to provide better performance
-Marketing (encourage people using Livepeer to broadcast)
-Others (i.e. burn RPT, translation, etc…)
*Welcome any suggestions

*I will keep changing the rewards / fee share / price per segment in a reasonable if RPT become more valuable over time

Why delegate to my node?

Only 3.5% of daily LPT reward goes to me
40% of earned ETH goes to you
The price per segment are 130 Gwei
99.99% daily reward call (try my best)

What hardware will I run?

Initially, I start with cloud hosting. After monitoring the network in a certain time and demand, I plan to have a dedicated computer to perform transcoding. Also, I will upgrade the hardware over time if there is needed

If you are part of the community who want to make livepeer success, please support me. I will make sure everything as transparent as I can.

I can’t do it without you guys support.

NOT SURE HOW TO BOND ?

Feel free to contact me via Telegram / PM

[ericxtang]

Hi @ansonlau looks like your transcoder is back in the top 10. Please make sure to update your Livepeer node to the latest version, and I suggest following this tip to make it more stable. Cheers~

[ansonlau]

@ericxtang updated already, thank you.

[ansonlau]

It’s time to give an update…

100% Reward() called.

For the past few weeks, I have been preparing to run a dedicated computer instead of using cloud VPS.

Hardware Specification:

Staking - RewardCut

I have not expected the growth of staking so incredible for the past two weeks!
I would like to thank you anyone who chose to stake to this transcoder.

On the other hand, in order to build a stable staking & strong Livepeer community, after further consideration, I decided to increase the rewardCut from 3.5% to 5% in round 1015.

BUT still only 3.5% goes to me

Part 1:

Remaining will be used for rewarding three parties below:

1. 50% - To incentivize large token holders (Top-N delegators, N could be 3, 5, 10, etc…) continue to stake to this transcoder
   *it should take staking time(e.g. 30 rounds) into consideration in the future

2. 20% - To incentivize other delegators via random draw
   *exclude 1. token holders

3. 30% - To build Livepeer community (Very important in the long term)

Tentative plan to adjust the RewardCut is shown as below:

Take RewardCut 6.5% as an example :

When the transcoder’s staking reached or above 200,000 LPT & continuously keep 7 rounds, rewardCut will be set to 6.5% in the next round, and vice versa

6.5% RewardCut - 3.5% (Me) = 3% (Remaining)
When the rewardCut is reached 6.5%, the transcoder will reserve 3% to reward delegators & Livepeer community.

Part 2:

To further incentivise delegators stake to this transcoder, I decided to contribute my reward cut on a monthly basis.

Reward Distribution (Start with 25% -> Up to 50% of monthly reward):

• 5% of my monthly LPT will be distributed to Top-N delegators
• 15% of my monthly LPT will be distributed to other delegators
• 5% of my monthly LPT will be distributed to the Livepeer community

Requirements:

• Total stake above 100,000 LPT
• Staking LPT have to consistently keep above 100,000 in the following 20/30 rounds

If the total stake is below 100,000 LPT during the past 30 rounds, 10% of monthly reward will still be equally reserved to the delegators (Random draw currently).

Notice:
I may make a wrong decision/assumption and might not have deeply enough thought on different scenarios, but let’s test and iteratively improve it.

Token distribution will be arranged on a monthly basis.

if the transcoder is continuously doing really great job & have a lot of supporters in the long run, the maximum rewardCut will be set to 10%.
(*Max. rewardCut can be reviewed periodically)

This is my rough idea. (Can be changed in the future)

Conclusion:

I hope this would not change too much for all the people who staking to this transcoder. If we would like to make the token become more valuable over time, we have to make the whole Livepeer ecosystem better.

Let’s see how these changes are going to play out. I would like to try out various strategies in the earlier stage of the protocol.

If you like the idea & would like to experiment/support, please stake to this transcoder.
Please also support other transcoders that has same vision as well.

Questions / Suggestions ?

Please reach out to me via Discord (@ansonlau3) / PM.

FAQ

[deboot]

Hi Anson, great work you’re doing running the node with most tokens bonded! Keep calling reward!

I wanted to share this with you:

https://forum.livepeer.org/t/transcoder-campaign-livepeer-emerging-markets-0x8909/295

[ansonlau]

Since the protocol currently does not support partial withdraw, LivePeer token will be distributed after the network is upgraded.

I have created a google sheet to record those of the rewardCut distribution at this moment.

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

If you are one of the delegators, remember to take a look.

[deboot]

Congratulations @ansonlau for reaching 100,000 LPT in Total Stake for your node!

Keep up the great work!

[ansonlau]

thank you! …

[ansonlau]

round 1023 - 1042 token distribution.

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

[deboot]

Hi there Anson - I just checked out the details of your node, and it is showing that reward was not claimed since round 1050… and we are currently in round 1052.

Is there some problem with the node?

Would you recommend bonding to another node in order that my delegated tokens continue to earn a share of the inflationary reward?

[ansonlau]

Hi Chris,

yes, I missed to call round 1050, I expected the livepeer_cli should automatically call the reward function, but I did not know why it did not work at that time. For now, I will make sure to monitor the livepeer process is working properly.

For the second question, I would recommend delegators should delegate different percentage of LPT to various transcoders after network is upgraded (diversify -> reduce risk) and give an opportunity to them as well.

[ansonlau]

round 1043 - 1062 token distribution.

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

[ansonlau]

round 1063 - 1082 token distribution!

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

Delegator - LPT Distribution Plan
Livepeer currently support partial unbound!!!

I plan to transfer those LPT to a smart contract, then delegators can directly claim their rewards through submitting a transaction to the smart contract.
So once the smart contract is ready, I will write a step-by-step tutorial.

*If delegators are not claiming their rewards within 60-70 days after the smart contract is deployed, those remaining will be transferred to the LivePeer community reserved pool.

LivePeer Community Reserved Pool has approximately 600 LPT for rewarding livepeer community, right now I am thinking of different ways to distribute it. Welcome any suggestions

[ansonlau]

round 1083 - 1102 token distribution!

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

Based on the Supermax information, the transcoder has more than 100 delegators

[ansonlau]

round 1103 - 1122 token distribution

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

Delegators

Please take a look this thread to understand how to get your rewards if you have delegated your LPT to this transcoder.

[ansonlau]

round 1123 - 1142 distribution

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

The transcoder’s delegated LPT above 200,000 for a while, my original plan is to increase the rewardCut from 5% to 6.5%, but I have decided to keep 5% rewardCut with the following parameters changes to maintain its competitive and without affecting too much for the existing delegators.

Transcoder’s RewardCut
Old : 5% - 3.5% (Transcoder) = 1.5 % (Remaining)
New : 5% - 4% (Transcoder) = 1% (Remaining)

Mine reward
Old : 25%
New : 20%

Price
Old : 130 GWEI
New: 170 GWEI

Those updates will be effective on the next round .

[NicolaSantoni]

Hi @ansonlau I see you are in HK too. Would love to talk to you about staking and derivates. I am based in HK too. Added you on Discord. Not sure if that was you. What’s your TG?

[ansonlau]

round 1143 - 1162 distribution

Asia Hong Kong - Transcoder (Livepeer Token Distribution)

[dob]

Hey Anson. I’ve been continuously hearing about some of the growing interest in Livepeer WeChat group. But I don’t have a lot of visibility into what’s typically being discussed, how people are discovering and participating in Livepeer, or the main topics of interest. Thanks for continuing to moderate and grow the community. Any updates you can share?

[ansonlau]

hey dob,

just saw this msg, sure!!

Many people are interested in running a transcoders (e.g. some crypto funds in China) & the latest info of streamflow, but the main problem currently is LPT illiquid, people in China are difficult to buy LPT especially those exchanges do not allow them to register.