Thanks @dob. Phase 1 of this project’s Development and Operations is now complete.
For people wanting to participate in the DAO, the first step would be to familiarise yourself with the DAO - how it works, what the possibilities are, and learn how you can participate. I would recommend starting on the DAO’s home page:
Anyone can participate in this DAO, whether they are a delegator or not.
For example, withdrawals from the DAO’s funds to any Ethereum address can be proposed using the DAO’s Finance application. All proposed withdrawals will be put to a vote, and if the votes are passed, the transfers will happen automatically.
Also, anyone can propose a motion to be voted on, using the DAO’s Voting application.
For example, a participant could propose:
- to bond / unbond / withdraw LPT to / from the node, or
- to change the reward cut / fee share / price per segment.
These votes are only informative however, and do not have any direct automated repercussions - i.e. any motions that are passed will still need to be manually actioned, leaving them liable to censorship.
It is the focus of Phase 2 to develop the software to allow a DAO to bond and unbond LPT automatically (if the DAO votes for it!). This would transfer the control of Staking entirely to the DAO, removing the opportunity for censorship - neat huh? There’s an update on that below!
Who gets to vote?
Any holders of the DAO’s native VIDEO token (VDO) are able to vote on motions proposed on the DAO.
At time of writing, there is only 1 VDO token, which is owned by the Node, and controlled by the Node Operator.
We are currently considering how to allocate VDO to delegators - stay tuned for further announcements! If you have any suggestions, you can propose a vote… or talk to the community on the Video DAC Telegram channel.
Phase 2 Update
We are making good progress at integrating Aragon with Livepeer, so that any Aragon DAO can approve / bond / unbond / withdraw LPT to / from a Transcoder on the network - here’s a sneak preview work in progress from last week:
You can view the codebase for this here, as it evolves.
How to support
If you would like to support this node, you can bond your LPT using Livepeer’s Protocol Explorer - either by going to the node’s page and clicking “BOND”, or selecting 0xdac… from the list of Transcoders.