Transcoder Campaign: Video DAC

#21

The node successfully called reward for Round 1281, receiving 238.72 LPT in rewards.

69153 LPT is currently staked towards the node, including 11.36 LPT of the node’s own stake.

The node has sold 1.2 LPT, enabling it to successfully complete the first part of Phase 1 (refund the costs of setting up a node) and is now 100% debt-free.

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#22

The node successfully called reward for Round 1282, receiving 243.92 LPT in rewards.

70811 LPT is currently staked towards the node, including 13.33 LPT of the node’s own stake.

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#23

The DAO for this node is now active.

To view the votes, token holders, and finances for this DAO, go to:

https://mainnet.aragon.org/#/video.aragonid.eth/

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#24

The node successfully called reward for Round 1283, receiving 244.67 LPT in rewards.

71046 LPT is currently staked towards the node, including 1.94 LPT of the node’s own stake. 13.33 LPT is currently being unbonded, to be sent to the Aragon DAO for this node.

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#25

The node successfully called reward for Round 1284, receiving 244.76 LPT in rewards.

71,442 LPT is currently staked towards the node, including 3.89 LPT of the node’s own stake. 13.33 LPT is currently being unbonded, to be sent to the Aragon DAO for this node.

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#26

The node successfully called reward for Round 1285, receiving 246.49 LPT in rewards.

71,690 LPT is currently staked towards the node, including 5.86 LPT of the node’s own stake.

13.33 LPT is currently being unbonded, to be sent to the Aragon DAO for this node to be responsible for using these funds for resourcing.

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#27

The DAO for this node is now active.

!!! Wow. Any more information on how delegators can participate in the DAO? What’s the first step they should take?

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#28

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:

https://mainnet.aragon.org/#/video.aragonid.eth/

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:slight_smile: 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.

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#29

The node successfully called reward for Round 1286, receiving 247.34 LPT in rewards.

72123 LPT is currently staked towards the node, including 7.84 LPT of the node’s own stake.

13.33 LPT is currently being unbonded, to be sent to the Aragon DAO for this node to be responsible for using these funds for resourcing.

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#30

The node successfully called reward for Round 1287, receiving 247.76 LPT in rewards.

72371 LPT is currently staked towards the node, including 9.83 LPT of the node’s own stake.

13.33 LPT is currently being unbonded, to be sent to the Aragon DAO for this node to be responsible for using these funds for resourcing.

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#31

The node successfully called reward for Round 1288, receiving 249.83 LPT in rewards.

75511 LPT is currently staked towards the node, including 11.84 LPT of the node’s own stake.

13.33 LPT is currently being unbonded, to be sent to the Aragon DAO for this node to be responsible for using these funds for resourcing.

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#32

The node successfully called reward for Round 1289, receiving 259.30 LPT in rewards.

75809 LPT is currently staked towards the node, including 13.94 LPT of the node’s own stake.

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#33

The first deposit of LPT has been made to the DAO from the Transcoder.

The total funds held by the DAO is now $106.36 (at current exchange rates).

Don’t forget, anyone in the world can propose a withdrawal from this DAO to any Ethereum address, using the Finance app for the DAO, by clicking “New transfer” and selecting “Withdrawal”.

Funds will automatically be sent if the vote is passed.

Here’s an example of a “Withdrawal” being proposed using the Aragon App.

And anyone in the world can also ask a question to be voted on by the DAO, using the DAO’s Voting app. These votes are informative, and don’t have any direct repercussion on the organization.

1 Like

#34

This is awesome! Looking forward to phase 2 :slight_smile:

1 Like

#35

The node successfully called reward for Round 1290, receiving 259.89 LPT in rewards.

75932 LPT is currently staked towards the node, including 16.05 LPT of the node’s own stake.

Further funds from this node as controlled by the Aragon DAO video.aragonid.eth.

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#36

The node successfully called reward for Round 1291, receiving 261.31 LPT in rewards.

76200 LPT is currently staked towards the node, including 18.17 LPT of the node’s own stake.

Further funds from this node as controlled by the Aragon DAO video.aragonid.eth. To propose how these funds are allocated, go to the DAO’s Finance App, and the DAO will vote on all proposals.

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#37

The node successfully called reward for Round 1292, receiving 262.12 LPT in rewards.

76845 LPT is currently staked towards the node, including 20.32 LPT of the node’s own stake.

To view full breakdown, go to the Node’s “Delegating” page in Livepeer’s Protocol Explorer.

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#38

The node successfully called reward for Round 1293, receiving 264.49 LPT in rewards.

77168 LPT is currently staked towards the node, including 22.48 LPT of the node’s own stake.

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#39

The funds generated by this Transcoder node are being transferred to a DAO created using Aragon’s software.

If you are interested in learning more about how to use the Aragon DAO that is governing the funds generated by this Transcoder, the best place to start would be with the Aragon User Guide.

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#40

The first development project funded by this initiative aims to deliver a mechanism for any Aragon DAO to delegate it’s Livepeer Tokens (LPT) to a Transcoder in Livepeer’s network.

This will enable a DAO to receive the rewards due to it for participating in governing Livepeer’s network.

Specifically, it will enable a DAO to perform the following actions:

  • approve - approve Livepeer’s “Bonding Manager” contract to accept the DAO’s LPT
  • bond - delegate the DAO’s LPT to a specific node in Livepeer’s network
  • claimEarnings - claim the earnings due to the DAO for delegating to the Transcoder
  • unbond - commences the process of unbonding LPT from the network for withdrawal
  • withdraw - finally withdraw the LPT from the network for spending.

This development project is due for completion in Q2 2019. For more details, you can join the Telegram channel.

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