Updates on the livepeer network

Hi, Livepeer peers.

This is the monthly update to the transcoder campaign for the month of March.

As, many things have changed since the migration to the arbitrum, I would like to briefly go over all the new developments in the livepeer network with regards to the orchestrators and staking.

Since the move to L2, we have seem tremendous increase in the reward calls made from orchestrators as the reward call are fairly cheap (1-2$) per call. This has had some interesting outcome as the small delegators can cheaply delegate to the orchestrators which was not possible because of the insane fees of L1 (100$).

Also, the inactive orchestrators have not moved to L2 which means exodus of the delegators from those orchestrator and delegating to the new active orchestrators. The fee cuts have been on the low at 0% which is really beneficial for the delegators as they get to keep the 100% of the inflationary rewards.

If you want help with there are really awesome videos explaining the process for all the actions in livepeer eg. Staking, orchestrator setup, orchestrator switching, bridging LPT from L1 to L2 and so on. Check out the videos on the YouTube or livepeer academy. I will link a video that explains how to choose orchestrator based on fee cut and reward cut, you can check it out for better understanding of the parameters.

Thank you for Trade Intuition for making the video, feel free to check out his channel.

As a orchestrator, JJassonn69 node has made some progress recently regards to the performance in transcoding in the network. We have updated the network infrastructure to get better latency. Currently (as of 4th march) we are in top 10 performing orchestrators in the network. We also have been able to get some stake delegated at our node, this has helped alot in going up the leaderboard for getting transcoding jobs.

I also have to inform you about the issue with the profile update on the explorer, after the L2 migration no orchestrator are able to update their profile as the service provider has stopped that feature. Devs are looking to find alternatives for that issue. This has caused some issues as, the website which is shown in the campaign page of the JJASSONN69 orchestrator is incorrect and there is no way to update. The correct website is:

https://everest-node.livepeerservice.world

After several suggestions from the delegators and peers we are planning on updating the name for the orchestrator to " EVEREST NODE". The update will be reflected after the issue of profile update is resolved.

For the delegators, there is a telegram bot built by ‘vires’(orchestrator) to track the daily reward call and fee earned on the orchestrator. You can get the updates on the daily inflationary calls and get notificatified if the orchestrator missed any calls.

If you have any questions feel free to forward them to:

staking@livepeerservice.world

Those of you wanting to earn passive income on their LPT can delegate to JJASSONN69 orchestrator which has now 0% reward cut, so you will get 100% of the inflationary reward. Follow the think to the explorer for staking your LPT.

https://explorer.livepeer.org/accounts/0x6cb1ce2516fb7d211038420a8cf9a843c7bd3b08/orchestrating

Thank you.

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Hei Livepeer peers,

It’s time again for an update. The month is April but be sure that I wont pull any April fools.

Livepeer network has been actively engaged in promoting the brand to onboard more broadcasters by providing information on the services offered by Livepeer. Livepeer presence has been seem in the NFT|LA where they debuted their first exclusive commercial created by an orchestrator. Check it out with the link below:

Livepeer grant which provides the funds for community development projects has funded some great De-Fi projects on Livepeer such as:

Imbue - Decentralized Twitch

Edi - Opensource and decentralized educational learning experience powered by Livepeer.

Many more projects are on the way as there is 200k worth of grant available for Q2 2022.

Since, the last update on the profile editing feature, livepeer team has since switched to ENS (Ethereum Name Service) successfully. Many orchestrators have already updated their details but some are waiting for the fees to go down as editing any detail costs gas fee. Now anyone can easily search any orchestrator by typing ****.eth address.

The payout amount has been reduced for each ticket while the frequency of the payout has increased, which should balance the equation
but this has created some interesting challenges among the orchestrators as there are many orchestrator who haven’t seen payouts in a while even though they have reached the tickets received, while other orchestrators are getting multiple winning tickets in a row eventhough they haven’t transcoded the similar amount.

Probabilistic micropayment seems to be a very hard concept for many to grasp and it’s functionality not working as intended has had negative impact on the orchestrators motivation.

Many orchestrators have had issue of RPC calls made by Livepeer not resolving and dropping of streams. Likes of alchemy/infura are providing the services but solely relying on a centralised entity for whole network is not ideal. Therefore many orchestrators are running their own arbitrum node.

As ‘jjassonn69’ orchestrator, which covers three continents, it has received a startup grant for 10k LPT on the 23rd of March. This extra stake has pushed us in the leaderboard to the top 50s.
However, we haven’t seem much increase in the transcoding traffic (maybe a slow month).

We have also registered an ENS: ‘everest-node.eth’ to update our profile but haven’t made the final changes as we are waiting the fees to go down.

As, our reward cut is set at 0% we are not taking any of the inflationary rewards from the grant or any of our delegators. The fee cut percentage at 90%, we are sharing the 10% of the fees earned from transcoding with our delegators.
This means, more earnings for delegators who stake with us as other biggest orchestrator have 5%-10% which isn’t 0%.

For the reliability part of the JJASSONN69 node, we have started a monitoring platform where delegators and enthusiasts can check the uptime of the servers in real time. Use the link below to check the uptime:

https://stats.uptimerobot.com/1qxv6T68P6

With the spirit of decentralisation we are currently syncing the arbitrum node to get rid of the reliance on alchemy and public rpc. Our own arbitrum node will be a important part in keeping our node functioning at 100%.

This is the wrap of the updates for the April, hope to see some interesting updates to report next month.

You can check out our website:

https://everest-node.livepeerservice.world

Send us am email if you have any questions or just want to connect with us at:

staking@livepeerservice.world

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