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

[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