Transcoder Campaign: Decentralized Community Node


#1

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.

Node: 0x4f4758f7167b18e1f5b3c1a7575e3eb584894dbc

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

Overview
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

Results
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:

For anyone who would like to get involved please sign up at livepeercommunity.org, feel free to ask a question below!


Grants, and What's Next for Livepeer Research
#2

I have staked my MerkleMined Livepeer Token to the Decentralized Community Node.

Good luck, and let me know how I can help!


#3

Looks like we’re about 2 weeks into the network and this community node being in the top 3 transcoders on the network in terms of stake. Any updates on how things are going so far?


#4

:tada: Bi-Monthly Transcoder Update :vulcan_salute:

Performance

  • The community node currently has 6517 LPT Staked towards it
  • The community node has called reward for 16 / 16 rounds
  • Distributing 3,527 LPT to delegators over the past 16 rounds, which has been around ~260 per day on average
    Thank you for your support!

Governance

  • Livepeer Community Node hosted the first governance call, where we had one external participant join. We discussed how to use the token profits accrued to build community, and three approaches were approved for May. 1) Give LPT to those who attend community calls or 2) in person awareness events. 3) Lastly, for those who participated in hack day, which will be monthly moving forward. You can join the June Governance call by adding the calendar event to your calendar.

  • We’ve got a handful of folks who have done these things and received LPT, which we are tracking here

Community

  • 40 people have signed up to receive community updates, and will be receiving a limited edition Livepeer sweatshirt

  • We had 4 new contributors to the LP project, working on issues you can see on gitcoin bounty

  • We hosted a handful of online and in person events, including Livepeer.js, Community Node Governance Call, Women in Blockchain, and a Family and friends meetup

  • We launched a new campaign for Hack Day - link to blog , learn more about what was hacked


#5

See below for the latest!


Earn More LPT, Referral Pilot