EUA Agreement to Replace EOS Constitution

Block producers still retain a dominant role in management
17 April 2019   329

21 out of 30 EOS block producers have signed a User Agreement (EUA), which will replace the interim network constitution as a guideline document. At the same time, block producer will retain a dominant role in management. It is reported by the CryptoDaily.

The new agreement, in particular, will replace the EOSIO basic arbitration forum (ECAF) mechanism, which proved its inconsistency under the previous constitution, the system could not cope with a huge number of arbitration cases and most of them remained unexamined. In addition, ECAF solutions could not be implemented without the approval of the manufacturers of the blocks, which is why key issues remained in limbo.

The EUA is expected to create the basis for the functioning of the EOS network as a representative democracy, since the turnout of tokens holders in referendums does not constantly reach the established 15% threshold.

It is worth noting that the turnout in the EUA referendum was also below the threshold level - 1.7% - and therefore the block producers made the final decision to abandon the interim constitution.

Scale of powers of manufacturers of units has been discussed since the launch of the EOS network. For example, some experts are convinced that the network’s delegated share proof mechanism (DPoS) is contrary to the principles of decentralization.

In June 2018, Project Chief Technical Officer Dan Larimer proposed limiting the powers of arbitrators to address issues related to differences between the Code and intentions, as well as the processing of vulnerabilities and code breaks.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   332

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.