Livepool Project Update
It’s been a while since the last update, exactly one month actually. Much has happened so far , Livepool has launched a stable release for all platforms (Windows, macOS and Linux) and has been running for a month now.
A few transcoders have already tried out the software and some of them have already earned some ETH (the balances are still pending because it wouldn’t be profitable to pay it out at current times). So all in all Livepool is doing great.
Even more recently Livepool has received quite a big contribution in terms of delegated LPT, the total stake on the network is now 82.2k LPT , which positions the pool very well to win initial work on the network.
Reliability and Transcoder Feedback
In the next engineering cycle of Livepool much work will be done on the reliability front allowing the pool to not only win work but also retain it. Good transcoders will be rewarded while bad transcoders will lose out.
We also plan to expend our operations to serve multiple regions from data centers over the world. This should always give us the bandwith and IO capacity we need to scale and serve different geographic regions over the world efficiently. Livepool wants to be a reliable orchestrator that anyone can connect their GPUs to.
We’ve also invested in a 2 GPU mining rig to help us improve the software without having to necessarily rely on the feedback of transcoders connected to the pool. That feedback surely remains very helpful to improve the software so thank you to the early operators, keep it coming .
Currently there aren’t enough fees flowing through the network to make Livepool self-sustainable in terms of operational overhead, especially if it wants to increase its competitiveness on the network going forward.
Furthermore the LPT inflation rate is expected to reach 0% by december, which would significantly increase pool revenue and have a serious impact on the operational costs.
Therefore we will be updating our
rewardCut to 20%. The revenue from inflation LPT will now be enough to cover the costs. However Livepool will not be unbonding unless absolutely necessary to cover costs, instead it will front the operational costs based on the current value of the LPT rewards. Livepool hereby takes on the risk of the future price of LPT.
Furthermore the increase in LPT rewards going to Livepool will increase the competitive advantage of the pool in the months to come. Delegates and stakeholders can see the full positive effect and increased profitability of this measure once meaningful fees start flowing through the Livepeer network.
Recently we updated our
feeCut to 95%. This means that 5% of fees earned in ETH will be split among delegates. The remaining 95% will go to Livepool to pay out the transcoders actually doing the work. Livepool takes a small commission in this of currently 5%.
In order to increase our competitive edge after increasing the
feeCut will be decreased to 90% to attract more stake from delegates once ETH fees start flowing to the pool.
The Livepool landing page is currently being reworked , a designer is working on some cool illustrations to convey the concept of Livepool. The landing page will also include a handy get-started guide.
Livepool Desktop App
One of the future milestones is a Livepool desktop app which can serve as a replacement for the command line interface. This app will be very easy to use and also contain automatic fiat on-off ramps (for regions hwere that’s possible) and should allow even non-tech savy users to earn money using Livepool and getting paid straight to their bank account or paypal.
The future is bright for Livepool !