greymass blog

Greymass Stance on the "retiresaving" Proposal

This past Thursday, we voted in favor of step one of the “ forumretire ” proposal by EOS Nation. This proposal has since been approved in a 15/21 BP vote. In this post, we’d like to offer a short background on the proposal and elaborate on our stance on this important issue.

"retiresaving" is a two-part proposal from EOS Nation that relates to an initiative to burn the EOS that has accumulated in the eosio.saving smart contract. The EOS mainnet launched with a 5% yearly inflation rate— 1% of which is paid out to BPs, and 4% of which goes to the eosio.saving contract. The idea behind this contract was to create a network treasury that could be used to fund various initiatives and developments that could bring value to the EOS ecosystem. The problem was that, while the network launched with an active savings contract, the community did not have a plan in place to allocate those savings. As such, those funds have been accumulating in a smart contract with no clear way to decide on how they are spent.


Greymass Support of the "tokenauction" Referendum Proposal

Today, we’d like to voice our support for the tokenauction referendum proposal by EOS New York. Should this issue be put to a 15/21 BP approval vote, we plan to vote in favor of the approval. As part of our commitment to active participation in EOS governance, we’ve signaled our support of the proposal on-chain (see transaction here ), and will also offer an explanation of our stance below.

This proposal is important for two primary reasons: it provides added security for token projects built on EOS, and it creates a source of revenue for the blockchain itself that can be allocated using the same decision-making process that governs other network upgrades.


Inflation, Centralization, and DPoS

In recent weeks, the EOS community has been engaged in a number of conversations around topics related to the inflation of the EOS token supply. We believe these to be important discussions, as inflation can have a direct impact on the security, distribution, and incentive structure of any given blockchain. When it comes to EOS in particular, we believe that the framing of the inflation debate has been overly simplistic. Inflation can be good, bad, or neutral, depending on where it flows and how it is used. The details of specific implementations are important to consider.

In this post, we’d like to outline concerns around EOS inflation that we believe haven’t been addressed in-depth. Our goal with this post is to demonstrate that there may be tangible benefits to EOS inflation that does not flow directly to validators (consensus participants), and tangible downsides to inflation that flows only to these participants. We hope that this contributes to the community conversation around these issues, and we look forward to hearing voter feedback and discussing these issues further.


Introducing Light History Nodes for EOS

The state of History API nodes on the EOS network is a growing concern. While we are all exploring long-term solutions, such as our recent sponsorship of the development of a new History Plugin, in the interim, problems continue to arise.

Over the past few weeks, the EOS ecosystem has ground to a halt several times due to the lack of these History API nodes. A few weeks ago, our main History API went offline for a brief period of time, which you can read more about here. Over this previous weekend, we brought our History API node down for approximately two hours while upgrading a switch in our datacenter. During this period of time, applications on the EOS network once again ground to a halt as the only other providers of History API nodes failed under the extreme pressure that they were now bearing.


Converting an EOS account to use a Ledger with eos-voter 0.6.x (Greymass Wallet)

Over the past few weeks we have released a number of updates for eos-voter (0.6.x), which enabled support for Ledger devices. We still haven't even official announced these releases (we're still fixing some bugs), but now that users are upgrading we feel it's important to provide a bit of guidance on how to use it.

A more formal announcement of the 0.6.x release is still in the works. For now, all recent releases can be viewed on our github page: