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| eip | title | author | discussions-to | status | type | category | created | requires |
|---|---|---|---|---|---|---|---|---|
| 2025 | Block Rewards Proposal for Independent Ethereum Research | James Hancock (@madeoftin) | https://github.com/MadeofTin/EIPs/issues | Draft | Standards Track | Core | 2019-04-20 | 1890 |
Add a Developer Block Reward to Ethereum, Supporting Independent Research and Development of the current Core Infrastructure (also known as Eth1.X). The budget for these funds set and managed by a Multisig of senior core developers and trusted community members. Reports will be published every two months on the use of the funds defending the requested budget for accountability to the community.
Abstract
This EIP adds a 0.005 ETH reward per block to a multisig up to a certain budget (1000ETH). After reaching the budget, the block rewards would freeze until the budget is used. The block rewards can start again after funds are withdrawn. The community can also reject the quota at any time through a coinvote in the case they do not approve of the use of funds.
Motivation
Public infrastructure is a common good. Common goods are difficult to fund through private enterprise. There exist some funding mechanisms in the community for this work; however, more diverse funding mechanisms increase diversity and decentralization of the ecosystem. Each system (Moloch, the EF, Consensys grants, Metacartel, etc...) has their priorities and mandates from the community. The proposed fund focuses on one thing, and one thing only, Independent Core Research and Development of Ethereum Mainnet. This is important as the community needs the current infrastructor to be maintained simultaneously to the development and deployment of ETH2.
Specification
An address for the multisig is selected and a quota for a budget is set at 1000 eth. If the amount of eth in the multisig is below 1000Eth, the block rewards will engage until that balance reaches the threshold. When the balance reaches 1000 ETH the block rewards are set to 0. Every 2 months there is an accountability coinvote held with adaptive quorum biasing whereby the minimum quorum necessary changes based on voter turnout. If the voting threshold is reached the Target_Quota is set to 0.
Rationale
Governance
Governance of the funds would be through a multi-sig of senior core developers and trusted community members representing:
- EIP Editors
- Geth
- Parity
- ConsenSys/PegaSys
- The Ethereum Foundation
- Community
All allocations of this fund would flow through this body.
Accountability
Every two months, the developers receiving funding write a report on the progress and use of these funds. At the time this report is released, there is also a coin vote held by the community whereby the budget of the Block Rewards can be set to 0. As long as the developers do right by the community and deliver, the community can allow the rewards to continue. If the community deems the funds misspent or no longer necessary, they can flip the Dead Mans Switch and turn off the Block Rewards
Personal Notes and Disclosures
I will accept no funding collected by the mechanism proposed in this EIP.
COI Previously I was PM for Tennagraph, a signaling solution for Ethereum. An Aragon grant funded this project and was distributed through Giveth and an AragonDAO. I have not received any funding from the project beyond this grant. All of this is verifiable on-chain. I am stepping down from any paid role on the project. I am also stepping down as a moderator for stances as there is a COI moderating stances for EIPs I am working with directly.
Disclaimer I do not claim to represent the community with my views; any members who wish to join supporting me with this proposal are free to do so. This is as fair of a proposal as I can personally conceive.
Backwards Compatibility
TBD
Test Cases
TBD
Implementation
TBD
FAQ
Why not allow current client implementors fund this work? (EF, Consensys, Parity, etc...)
Historically there has been a precedent that the Ethereum Foundation is solely responsible for funding the development of Ethereum. This process has evolved as the development has become more distributed. Aya Miyaguchi observed in a recent Coindesk article, “it really is not only Ethereum Foundation people who are building [Ethereum]”. Yes, we could rely on the Ethereum Foundation to fund Eth1.X. But why should we? This is a call for the network to come together and fund its own development. Ethereum the network is not owned by anyone organization or group of people. We are lucky to have the EF, and I consider this EIP in support of their coordination efforts.
Copyright
Copyright and related rights waived via CC0.