Transcoder Campaign: Video DAC


#1

Welcome to the Transcoder Campaign for Video DAC. This Transcoder launched on Sunday 24 February 2019.

Overview

Video DAC is 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:

  • Create tools to govern Livepeer’s network operations using a DAO

  • 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:

  • 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)
  • 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
  • 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
  • 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

  • refund the costs of setting up a node (startup loan in Ether)

  • 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.


#2

Video DAC Node is Active on Livepeer network.

627.170051172893543674 LPT is currently staked towards the node, including 0.018386773025342211 LPT of the node’s own stake.

The node successfully called reward for Round 1262, receiving 2.192257018022993946 LPT in rewards.

No fees have been collected by this node.


#3

The node successfully called reward for Round 1263, receiving 2.213172179525485332 LPT in rewards.

634.395539303082079533 LPT is currently staked towards the node, including 0.036000901438979422 LPT of the node’s own stake.

No fees have been collected by this node.


#4

The node successfully called reward for Round 1264, receiving 2.234205338787513046 LPT in rewards.

636.629744641869592579 LPT is currently staked towards the node, including 0.053842273108629651 LPT of the node’s own stake.

No fees have been collected by this node.


#5

The node successfully called reward for Round 1265, receiving 2.242654450927513258 LPT in rewards.

639.872399092797105837 LPT is currently staked towards the node, including 0.07181341200137989 LPT of the node’s own stake.

No fees have been collected by this node.


#6

The node successfully called reward for Round 1266, receiving 2.27622250399402073 LPT in rewards.

3802.885868400176408346 LPT is currently staked towards the node, including 0.090114513556661119 LPT of the node’s own stake.

No fees have been collected by this node.


#7

The node successfully called reward for Round 1267, receiving 2.284893920477159103 LPT in rewards.

652.138174877128301682 LPT is currently staked towards the node, including 0.10854624427198221 LPT of the node’s own stake.

No fees have been collected by this node.


#8

The node successfully called reward for Round 1268, receiving 2.331617943062483281 LPT in rewards.

4253.272256042480633863 LPT is currently staked towards the node, including 0.127413014459149863 LPT of the node’s own stake.

No fees have been collected by this node.


#9

The node successfully called reward for Round 1269, receiving 14.993121032072522143 LPT in rewards.

4259.476954157475650991 LPT is currently staked towards the node, including 0.246754549242759879 LPT of the node’s own stake.

No fees have been collected by this node.


#10

The node successfully called reward for Round 1270, receiving 14.860937361036762001 LPT in rewards.

4274.337891518512412992 LPT is currently staked towards the node, including 0.365442138653063934 LPT of the node’s own stake.

No fees have been collected by this node.


#11

The node successfully called reward for Round 1271, receiving 44.896332138466246672 LPT in rewards.

12905.33455433225048263 LPT is currently staked towards the node, including 0.722729036819684307 LPT of the node’s own stake.

No fees have been collected by this node.


#12

Thanks to all who have bonded to this node.

The node successfully called reward for Round 1272, receiving 59.983179919574658508 LPT in rewards.

17311.658279517135747671 LPT is currently staked towards the node, including 1.200837421534333453 LPT of the node’s own stake.

No fees have been collected by this node.


#13

The node successfully called reward for Round 1273, receiving 60.074348359461507025 LPT in rewards.

17371.732627876597254696 LPT is currently staked towards the node, including 1.6813392631804742 LPT of the node’s own stake.

No fees have been collected by this node.

1.2 LPT of the Node’s own stake has been unbonded, which will be sold for Ether to pay back the initial loan of 0.049538 Ether, taken to fund the initial phase of this project. This will be withdrawn in 7 days, after the unbonding period has completed.


#14

The node successfully called reward for Round 1274, receiving 60.253227696702435499 LPT in rewards. No fees have been collected by this node.

17430.785855573299690195 LPT is currently staked towards the node, including 0.960761295144553337 LPT of the node’s own stake. 1.2 LPT of the node’s stake is currently being unbonded, to repay initial setup costs.

If you hold LPT, you can support this node by visiting this URL and select to image your LPT. If you don’t have LPT, you can purchase from Radar Relay or Poloniex.


#15

The node successfully called reward for Round 1275, receiving 243.1 LPT in rewards. No fees have been collected by this node.

70154 LPT is currently staked towards the node, including 2.9 LPT of the node’s own stake. 1.2 LPT of the node’s stake is currently being unbonded, to repay initial setup costs.

If you hold LPT, you can support this node by visiting this URL and select to image your LPT. If you don’t have LPT, you can purchase from Radar Relay or Poloniex.


#16

The node successfully called reward for Round 1276, receiving 234.75 LPT in rewards.

67940.17 LPT is currently staked towards the node, including 1.86 LPT of the node’s own stake. 4.09 LPT of the node’s stake is currently being unbonded, to be sold for Ether, to repay initial setup costs, and to pay gas costs for creating a DAO on Aragon.

If you hold LPT, you can support this node by visiting this URL and select to image your LPT. If you don’t have LPT, you can purchase from Radar Relay or Poloniex.


#17

The node successfully called reward for Round 1277, receiving 235.60 LPT in rewards.

68177.84 LPT is currently staked towards the node, including 3.74 LPT of the node’s own stake.

4.09 LPT of the node’s stake is currently being unbonded, to be sold for Ether, to repay initial setup costs, and to pay gas costs for creating a DAO on Aragon.


#18

The node successfully called reward for Round 1278, receiving 236.26 LPT in rewards.

68414.10 LPT is currently staked towards the node, including 5.62 LPT of the node’s own stake.

4.09 LPT of the node’s stake is currently being unbonded.


#19

The node successfully called reward for Round 1279, receiving 237.10 LPT in rewards.

68655.45 LPT is currently staked towards the node, including 7.52 LPT of the node’s own stake.

4.09 LPT of the node’s stake is currently being unbonded.


#20

The node successfully called reward for Round 1280, receiving 237.85 LPT in rewards.

68914.439039188768146163 LPT is currently staked towards the node, including 9.43 LPT of the node’s own stake.