Welcome to the Transcoder Campaign for Video DAC. This Transcoder launched on Sunday 24 February 2019.
TL;DR
Livepeer’s network consists of 25 Transcoder nodes. They receive rewards in #LPT.
Currently, each node has a private key for a) setting the config, and b) spending the income.
This project will allow a node to be controlled using an Aragon DAO, to govern sustainable funding for the creation of video enabled applications using Livepeer.
Overview
Video DACis a Decentralized Autonomous Community aiming to decentralize and democratize the build and operation of web-based video products, and promote full transparency in all their activities.
In summary, it will use funds generated to:
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Create tools to govern Livepeer’s network operations using a DAO
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Build video applications using Livepeer infrastructure
How to support
If you hold LPT, you can support this node by visiting this URL and select to BOND your LPT.
If you don’t have LPT, you can purchase from Radar Relay or Poloniex.
Communications
Announcements regarding the Video DAC will be made on this page.
Discussions will happen on the videoDAC channel on Telegram.
Activities will be discussed and planned using videoDAC’s github page.
Execution Plan - Summary
In summary, this is a project in 4 phases:
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Phase 1 - Repay Startup Costs | Create DAO - COMPLETE
- Dev: Launch node and instantiate DAO
- Ops: Raise funds to repay setup costs, by operating centrally & manually (not decentrally or autonomously)
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Phase 2 - Integrate Staking | DAO-based Resource Allocation
- Dev: Develop software for DAO to bond / unbond stake from Livepeer’s network
- Ops: DAO empowered to decide how treasury is allocated
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Phase 3 - Integrate Node Configuration | DAO-based Staking and Resourcing
- Dev: Develop software for DAO to register as a node on Livepeer’s network
- Ops: DAO empowered to manage bonding / unbonding of Livepeer Tokens
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Phase 4 - Video Development / Full DAO-Based Node Governance
- Dev: Develop Video-enabled software and dApps
- Ops: DAO-governed Transcoder
Execution Plan - Detail
The following phases describe the process to develop a set of tools to allow this community to govern itself autonomously, in order to deliver funding to projects and individuals building video applications on Livepeer.
Phase 1 - Repay Startup Costs / Create DAO / Operated by Human
Development
During this phase, the main focus of development will be to create a DAO, to take on the responsibility of deciding how the funds raised by the node will be spent.
The initial rewards received by this Node, in the form LPT, will be used to
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refund the costs of setting up a node (startup loan in Ether)
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fund gas costs (in Ether) to set up a DAO using Aragon.
Operations
To begin with, this node will be fully operated by a Node Administrator (Fully Centralized).
That is to say that the following operations will be performed by a single point of failure, control and censorship:
- Operation: calling reward, in order to receive the share of the daily inflationary reward
- Configuration: setting of configuration parameters (reward cut, fee share, segment price)
- Staking: bonding / unbonding / withdrawing / transferring of LPT owned by the node.
- Resourcing: distributing of funds to repay costs and fund activities in the community.
Due to the risks associated with this centralization, the initial reward cut will be set to be lower than any other node in the active set of Transcoders, in order to provide the greatest return to delegators.
Phase 2 - Integrate Staking / DAO-based Resource Allocation
Development
During this phase, the main focus of development will be to create the tools to enable any DAO to take on the responsibility of Staking: bonding / unbonding / withdrawing / transferring of LPT owned by the DAO.
This will allow a DAO to bond their own tokens to any node in Livepeer’s network, in order to participate in the network’s governance, and to receive inflationary reward.
Operations
During this phase, the DAO will be fully responsible for:
- Resourcing: distributing of funds to repay costs and fund activities in the community.
All allocation of funds will be voted on by participants in the DAO, and will be fully transparent to all.
The Node Administrator will continue to be responsible for the Operation, Configuration and Staking.
Phase 3 - Integrate Transcoder Configuration / DAO-based Staking and Resourcing
Development
During this phase, the main focus of development will be to create the tools to enable any DAO to take on the responsibility of Configuration: setting of configuration parameters (reward cut, fee share, segment price) for a Transcoder.
This would effectively allow any Aragon DAO to register itself as a Transcoder on Livepeer’s network.
Operations
During this phase, the DAO will take on full control of Staking: bonding / unbonding / withdrawing / transferring of LPT owned by the node.
All activities to bond, unbond, and withdraw LPT owned by the node will be voted on by participants in the DAO, and will be fully transparent to all.
The DAO will continue to be responsible for Resourcing distributing of funds to repay costs and fund activities in the community.
The Node Administrator will continue to be responsible for the Operation and Configuration.
Phase 4 - Video Development / Full DAO-Based Node Governance
Development
In this phase, the focus of the development will switch towards developing video-enabled applications using Livepeer. This may include work to:
- build end-user-facing video-enabled applications;
- build tools to manage a Broadcaster node using a DAO;
- build tools to allow all the participants in the Livepeer network to autonomously govern its operation.
Operations
During this phase, the DAO will take on full control of Configuration: setting of configuration parameters (reward cut, fee share, segment price).
The DAO will register a new node on the network, and will bond to itself.
All activities to change the node’s operating parameters will be voted on by participants in the DAO, and will be fully transparent to all.
The DAO will continue to also be responsible for:
- Resourcing distributing of funds to repay costs and fund activities in the community, as well as
- Staking: bonding / unbonding / withdrawing / transferring of LPT owned by the node.
The Node Administrator will continue to be responsible for the Operation: calling reward, in order to receive the share of the daily inflationary reward.
your LPT. If you don’t have LPT, you can purchase from