Hi! I’m Raffi Sapire, I lead operations and community at Livepeer. This post outlines the livepeer long term vision, the reason we are building the community node, and the ways you can get involved.
Why a Community Node is Critical in Livepeer’s Long Term Vision
Livepeer is in the snowmelt phase, an 18-24 month journey where we will design the protocols that leverage decentralization for video services and p2p distribution and transcoding. During this stage, we’ll be testing our economic assumptions, making it easier for users to participate in the network, and building community. Beyond this phase though, there’s an eye towards a 7-10 year journey building a fully decentralized web3 video stack (watch this community call from last month to learn more). Building a strong developer community to build the tools that improve the protocol and infrastructure will be imperative to achieving this longer term vision and getting us to the next phase. In a world where Livepeer distributes the majority of tokens at genesis, and the remainder were committed to investors and the team, how will those first ~20 dev hacks that improve usability, making it easier for delegators, transcoders or broadcasters to participate be built? A community transcoder node early on ensures we are able to support this early growth, and importantly, its transparent governance is one of the first instances of Livepeer moving towards decentralized governance
The community node will start at 0% Fee Share and 50% Reward Cut. We will campaign with full transparency as to what the inflationary token rewards will be used for with regards to building community, and provide weekly updates to the community with fun photos and content. The LPT earned through performing work will be used to facilitate contributions that improve the scalability and usability of the network through initiatives including:
- Bounty Programs to improve the stability and security of the network
- Grants that empower independent teams, developers, or academics to collaborate on research tracks as well as Livepeer core team’s development efforts
- Hackathons around dev and user tools that make it easier for delegators, transcoders and broadcasters to participate
- Community growth through meetups, school ambassador programs, and other efforts that grow community
95% of all earned LPT will be used for the above. The remaining 5% will be reserved for personnel resources needed to operate the node. The transcoder will become active in May 2018
Who we are
Currently, members of the livepeer team are managing the governance and work done by the community node. I’m Raffi Sapire, I lead up operations and community at Livepeer, with 8 years of experience building communities, investing in and supporting entrepreneurs in the US, as well as India, Africa and Pakistan. I am committed to supporting and facilitating technical contributions to the Livepeer Network in an increasingly decentralized, transparent, collaborative way. Eric Tang, the co-founder and CTO of Livepeer, will be running the transcoder node, ensuring that the transcoder is consistently performing work and claiming fees.
Why you should stake
Anyone can contribute to the community node. Funding development and improvements to the protocol will increase the value of the Livepeer Token long term. We’re all in! Join us in putting your tokens where your mouth is. Myself, Eric and Doug are all committing to stake 20% of our token towards this node for the first 90 days of the network launch. We are prepared to invest in infrastructure, time, and other resources should the community chose to continue the stake towards the community transcoder
With only Eric and Doug bonding the 20%, It will result in between 2000-7000 LPT being earned by this node for community use. With additional stakeholders investing, we will have more room to experiment and fund development with tokens.
Decentralization of Governance
I’m especially excited because the community node is a step towards decentralizing governance. How can projects and grants be distributed, meetups and hackathons be organized, and spinoff initiatives be led in a decentralized way? Join me in experimenting with different platforms like aragon and prism, different tactics like community calls, reddit threads, even survey monkey, and different groups ranging from developers to enthusiasts to see what ultimately drives value to the network and token
From the beginning, we’re committed to collaborate and experiment with ways of distributed decision making. To start, we’ll be posting weekly updates on how much work the node performed, how much funding the community node has raised and/or spent .
In the first 30 days, I will:
- Create a newsletter that includes photos and updates on technical development and community programming. Sign up
- Plan a hackathon with @jozanza in New York
- Host 4 community calls open to anyone who wants to learn more. Add to your calendar here: https://calendar.google.com/calendar/embed?src=livepeer.org_bf2ckq8bk973faffua7bkbojj4%40group.calendar.google.com&ctz=America%2FNew_York
- Post a call for grant applications for independent teams, developers or students to contribute to the network along these research tracks
- Host 2 governance calls for anyone who wants to be involved with planning the above. Add to your calendar here: https://calendar.google.com/calendar/embed?src=livepeer.org_bf2ckq8bk973faffua7bkbojj4%40group.calendar.google.com&ctz=America%2FNew_York
For anyone who would like to get involved please sign up at livepeercommunity.org, feel free to ask a question below!