4. BOS Development Incentive program
Executive Summary
BOSCore is pleased to announce a BOS development incentive program with the goal of releasing 100 million BOS into the EOSIO ecosystem. The program involves a process of checks and balances that begins with a community referendum, by which the community chooses suitable proposals for funding support. If approved proposals can proceed to development and subsequent BOS Core Executive team review, auditing and funding. Other EOSIO ecosystem contributors can also apply for fund support, so that multi-chain, interoperability can realize aligned ecosystem incentives, enabling communities to prosper together.
1. Background
This proposal is a BOS development incentive program proposed by the founding core teams of BOS. The goal is to continue to support the development of core protocol and the expansion of the entire EOSIO ecosystem.
BOSCore will set up an environmental fund of 100 million BOS for infrastructure construction, protocol standard setting, code optimization, and ecological partner incentives, etc. Other EOSIO eco-contributors can also apply for fund support, and multi-chain can achieve greater prosperity together.
After this proposal is approved, BOSCore will deposit 100 million BOS into a designated account, which will be managed by BPs and used according to community referendum.
2. BOS Executive Team
Founded by several senior members of the EOSIO community, each member is veteran in the blockchain industry, involving wallets, mining pools, exchanges, and many other companies. The members have extensive experience in the field of Bitcoin, Ethereum and EOS. Each member is committed to blockchain technology, improving human productivity and freedom.
3. Program Goals
Attracting and incentivizing developers or teams
Letting more communities get involved
Accelerating the evolution of EOSIO technology
Prospering the EOSIO Ecosystem
4. Main Missions
The program is mainly to provide resources for the following work:
Core code development
EOSIO Ecosystem Application Tool
EOSIO's community development and motivation The program establishes the next form of community-driven collaboration for BOS. These funds will be used to advance the support and incentives required for the development of BOS and other EOSIO infrastructure projects.
5. Proposal method and fund payment
All BOS community participants can submit proposals while staking 100 BOS to submit a proposal to the referendum contract.
The proposal needs to include:
The name of the task
Features of the task
The deadline of task completion will start from the date the referendum is approved (relative to the referendum approved time)
The amount of the incentives, and receipt account (the account can be changed later)
The conditions for the approved proposal:
The votes from token holders is not less than 40% of BP votes from token holders when the proposal was initiated.
The ratio of approved votes/disapproved is greater than 1.5.
The above conditions last for 20 days.
BOS Auditor:
Stake 100,000 BOS
Have an understanding of the major public chain consensus mechanisms
You must make your BOS account name publicly available and other valid contacts, create your own homepage or social accounts. (Do not disclose personal sensitive information)
If cheating occurs, the qualification will be immediately submitted for cancellation by BPs. The staked BOS will be transferred to Foundation account and will be returned back after one year locking.
Votes are counted at the end of each quarter, the top 5 are elected, and up to 20 auditors.
The auditor has a one-year term and will need re-election after the expiration.
Conditions for being an auditor:
The votes from token holders is not less than 3% of BP votes from token holders when the proposal was initiated
The ratio of approved votes/disapproved is greater than 1.5
The above conditions last for 20 days.
6. Fund payment process points:
The community chooses suitable proposals for fund support by referendum.
The amount of a single proposal incentives cannot exceed 1 Million BOS. Generally, after the deadline expires, the proposal incentives are automatically paid.
10 days before the deadline, if the BOS Executive Team believes that the task has not been effectively executed, it has the right to temporarily freeze the payment of funds and submit the payment proposal to BP vote. BOSCore Executive Team checkpoints:
Test case coverage, whether the test passed?
Whether the coding quality is up to standard?
Whether the specified functions in the proposal are fully implemented?
Is there a security bug?
If the fund payment is frozen, the BOS independent auditor needs to publish the review within 7 days, make independent judgment in the contract, and issue a link to the relevant investigation report.
Within two weeks after the auditor’s comments, BP needs to make a decision. If more than 2/3+1 active BPs agree to continue to pay the incentives, it will continue to pay 90% of the incentives; Otherwise the payment will be rejected.
The 10% of the incentives for the proposal are equally divided between the auditors who agree with the majority of the BPs and the BPs who voted.
Any questions or enquiries you have, please feel free to contact us:
Email: support@boscore.io
Telegram group: https://t.me/boscorecommunity
Twitter: https://twitter.com/Boscore_BOS
Facebook: https://www.facebook.com/BOSCoreOfficial
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