Brendan Blumer, CEO and co-founder of Block.one – the company behind EOSIO (EOS) – went on Twitter on March 15 to express his concerns about the proposed EOS Worker Proposal System (WPS).
Developers from the laboratories of EOS Nation and Attic published details of the WPS in a YouTube video on March 9th.
WPS developers are looking for support from Eos block manufacturers
Currently in the test network, the WPS enables EOS token holders to propose or vote on financing proposals. After a 30-day voting period, the funds will be distributed to winning proposals via intelligent contracts.
The WPS developers are currently seeking support from Eos’s 21 block manufacturers.
Block.One CEO: Many DeFi projects have a “bad forecast”.
Despite thanking those working on the proposed system, Blumer tweeted that he was concerned about the potential impact of WPS on the EOS network.
He warns that EOS’s block maker approval to use token holder funds on projects “with no clear or measurable return on value” carries many risks, including “open”[ing] the door to corruption and external control. “Blumer says:
“In addition, the WPS system may alienate EOS from some others in the blockchain community and media, and therefore its future may depend largely on the success of the WPS system itself. I am concerned about the risk profile and the chance of winning this bet. “
Although he expressed his support for “specific projects” in the field of decentralized finance (DeFi), Blumer believes that “without sustainability, assertiveness and measurable returns” many DeFi projects have a poor forecast.
WPS suggested in the original Eos white paper
The WPS was first described in the original EOS whitepaper published in 2017. However, it took two years to take root as a proposal as the community waited for EOS inflation to drop to 1%.
50,000 WOS have already been earmarked for WPS – currently valued at around $ 95,000. This can be increased to EOS 75,000 (USD 142,000) in the future.
Eos users who wish to claim funds for a project must pay a fee of EOS 100 and adhere to voting and budgetary standards to avoid spam.
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