EIP-2208: Thought Rewards Proposal for funding good thoughts & also leaders of good thoughts

ryanseanadams commented 5 years ago

eip: 2208 title: Thought Rewards Proposal for funding good thoughts & also leaders of good thoughts author: Ryan Sean Adams (@ryanseanadams) discussions-to: https://github.com/ethereum/EIPs/issues/2208 status: Draft type: Standards Track category: Core created: 2019-07-23 requires: NA

Simple Summary

The efforts of thought leaders ("thot leaders") are essential to the protection and promotion of the value of ETH which is money used to pay for stuff in the Ethereum space. Currently these efforts receive zero ("0") compensation. 0 is too low of a number.

This proposal sets aside 0.03333 ETH per Ethereum block for 60 months (344,410 ETH) as a Thot Leader Block Reward ("TLBR") reserved for funding good thot leaders and good thots.

Good thot leaders obviously include @sassal0x, @econoar, @ameensol, @elonmusk, @ryansadams and others added to the boat through the impartial & public curation process of @TheWolfofEthereum. Custody of funds will be stored in an impenetrable multisig only accessible by a set of trusted individuals who can be trusted.

Abstract

The technical issue this solves is that technically there is no reward for thot leadership. This EIP adds 0.03333 ETH to the block reward for a specific distribution period of 10,333,333.3333333333 BLOCKS (about 60 months). The RECIPIENT_ADDRESS is a dusty old ledger nano which will act as a hardware-secured landing zone for later transfer to the TLBR multisig wallet for the purpose of thot leader funding. The emission schedule would start at the hard fork block number and continue for 10,333,333.3333333333 BLOCKS (about 60 months) at which point the address and amount would return to 0.

Each thot leader will deliver no less than 10 good thots per month. Thot leader tweets are public so there's 100% transparency & accountability.

Of course this is a one-time only block reward. Thot leaders will never require rewards again, that would be silly. If another set of thot leaders requests funds they should be harshly denied. Any further distribution would require a severe & protracted hard fork.

Motivation

The motivation is that today thot leaders give a lot and they get 0 compensation. Think of your favorite memes. Chances are they were made by a thot leaders. DeFi? Thot leades. Money Legos? Thot leader. ETH is money? Also thot leaders. They did all this with 0 budget, imagine what they could do with more than 0.

With TLBR funding we'll have more good thots and more good leaders. It's possible (but not guaranteed) that these thots will result in a faster & more scalable ETH 2.0.

Specification

Two constants will be introduced:

REWARD_DURATION_IN_BLOCKS, which specifies the number of blocks after ISTANBUL_BLOCK_HEIGHT when the reward collection will terminate (i.e., at block ISTANBUL_BLOCK_HEIGHT + REWARD_DURATION_IN_BLOCKS)
BENEFICIARY_ADDRESSES, a list of tuples containing the address and the amount to be transferred to this address per block. These amounts will be determined as the loan is collected from participating organizations and the addresses for repayment will be specified by them. The total of the amounts will sum to 0.0055. At the end of


REWARD_DURATION_IN_BLOCKS = 10,333,333.3333333333
TLBR_BLOCK_REWARD = 0.03333

BENEFICIARY_ADDRESSES = [
 (<address>, <amount_in_eth>),
 (<address>, <amount_in_eth>)
]

Beginning with block ISTANBUL_BLOCK_HEIGHT, the reward is added to the participating addresses within BENEFICIARY_ADDRESSES at each block until the end of the REWARD_DURATION_IN_BLOCKS.

IF (CURRENT_BLOCK - ISTANBUL_BLOCK_HEIGHT <= REWARD_DURATION_IN_BLOCKS)

FOR BENEFICIARY in BENEFICIARY_ADDRESSES:
  BENEFICIARY[0].balance += BENEFICIARY[1]

Rewards Distribution Rationale

Total Block Reward Increase = `0.03333` seems like a fair number

With a price of ETH at $211 this will raise USD $72,600,000 for thot leadership & good thots over the next 60 months! Wow!

Rationale

There's been lots of talk about block rewards for development.

Yeah, development is cool and stuff. But memes can 10x the value of a cryptocurrency a lot quicker. Thots produce memes, memes produce higher price, and higher price pays for development. So adding rewards for thots is actually the best way to pay for development.

Budget

Thot theme working groups:

ETH is money thots ($20m)
Money Legos & DeFi thots ($10m)
Open Finance thots ($5m)
Anti Maximalist FUD thots ($12m)
No, a Full Node Isn't 5 TBs thots ($25m)

Personal Notes and Disclosure

I want to address concerns of conflicts of interest directly. I have none. As a thot leader, my interest is good thots. And I have zero conflicts on that interest.

Disclaimer

I do not claim to represent the community with my views; however I do represent all good and clear-thinking people of the world. Therefore, any criticism of this proposal is likely false and unwarranted.