At 21:00 on November 3, 2021 (UTC time 13:00), the EOS Network Foundation's first community online meeting is underway in the form of Zoom.

This online meeting adopts a targeted invitation method. A total of 120+ people from the blockchain industry track leaders, head project founders, and community opinion leaders participated in this meeting to listen to the development plan of the EOS Foundation and outline the EOS Ecological panorama and development blueprint.

In this meeting, EOS Network Foundation Communications Director Zack Gall explained the decentralized characteristics of the EOS design mechanism, the work results of the EOS Network Foundation since its establishment more than two months ago, and introduced the EOS Network Foundation Pomelo, the official channel that will apply for funding.

Zack said:

The EOS ecosystem has lacked hope and optimism in the past two years. With the internal efforts executed by the EOS Network Foundation, and the various funding programs we have launched to support the development of the EOS ecosystem (including direct investment, sponsored working groups, Eden initiatives and grants from Pomelo, etc.), we believe that the EOS ecosystem has countless Things are promising and worth looking forward to. Let us present a wonderful ecological comeback story to the world.

This article is the full text of Yves' speech in the first community online meeting of the EOS Network Foundation, and the content has been compiled.

01 Opening remarks

Good evening, everyone, and thank you very much for joining this meetup.

first level title

02 EOS as a DAO: Elect its own leader

EOS will always be a DAO, or a decentralized autonomous organization. Let me explain what I mean:

As a payment token, EOS token holders are required to use network resources in proportion. When tokens are pledged to REX, the system is also distributed in proportion to the profits generated by the network, and the governance rights to the network itself are granted in proportion. The EOS network itself is a decentralized operating system managed by a DAO of applications built on a distributed ledger.

If you break down the different governance layers of EOS, you can start with the EOS token itself. There are currently approximately 1 billion EOS tokens in circulation, made up of tens of thousands of fully decentralized independent holders. Each token has governance rights, and token holders can vote directly or indirectly through mining pools to block producers to decide who will ensure the security of the EOS network.

first level title

03 ENF function introduction

Let's move on to the part of the EOS Network Foundation.

Under the previous model, EOS lacked some key factors that prevented it from realizing its full potential, including: leadership, coordination, and the ability to effectively pool and allocate resources to promote the development of the network itself and maintain the rights and interests of ecological participants.

Compared with before, the EOS Network Foundation can achieve a higher level of consensus decision-making. ENF was born by the joint decision of 21 block producing nodes in the EOS network, and these 21 block producing nodes are the top guardians of EOS DAO security. The 21 block producing nodes authorize the EOS Network Foundation to obtain an annual budget of US$100 million from the EOS network itself, and lead EOS into a new stage of prosperity and growth under a unified vision and management.

In the history of decentralized governance, the EOS Network Foundation is the first leadership to receive top-down support. We are the consensus of the EOS network, and our role is equivalent to the CEO of the EOS network.

first level title

04 Unite and work together

For EOS to succeed, it is impossible for the EOS Network Foundation to take on all the problems or try to solve all the problems by itself. We are here to empower network stakeholders to join us, enabling us to scale out so that we can work together to effectively and efficiently move the network forward.

Fortunately, we have worked in the EOS ecosystem for many years, understand its many needs, and have identified many top talents who can assist us in our work. In the EOS ecosystem, there are many people who basically have three years of work experience. We are aware of the efforts of many of them and have partnered with them to form sponsored working groups to encourage solutions to many of the grand challenges currently facing the EOS network. Such as wallet, user onboarding, API, history solution, documentation, education, auditing, etc. As Yves mentioned before, each of the four working groups will submit blue papers in the next 8-12 weeks as a future roadmap for EOS.

first level title

05 Funding work carried out by ENF

In our first two months of work, we have set aside $3.4 million to honor projects that insist on building on the foundations of the EOS ecosystem, many of which have low morale for the future of EOS and face a lack of resources , they lacked the support of the entire network for a long time. As the EOS Network Foundation works to rebuild confidence in the network, EOS cannot afford to lose talent, so it is important that these projects be prioritized. Based on my conversations with these teams, they are very excited about the new direction of EOS and the new opportunities that are being created.

We also provided Eden with more than $1 million in funding, which inspired more than 150 people to reach consensus in the election process to determine how these budget funds will be used. As a result of this election, an EOS customer support team has been empowered, a globally representative grassroots marketing team has been funded, and the funds will be used to improve the way users enter the EOS ecosystem, among other small effort.

first level title

06 About Pomelo

Pomelo is a crowdfunding platform that uses quadratic voting, pioneered by Vitalik Buterin and adopted by the Ethereum project Gitcoin. It has been shown to be the mathematically optimal way to fund public infrastructure goods in democratic communities, where the number of contributors is more important than the actual amount funded.

Pomelo is equivalent to the Gitcoin of the EOS ecosystem, which is used to fund the construction of public infrastructure products within the EOS ecosystem. No other network is doing anything like this except Ethereum. I believe this will be a very powerful tool to inspire and drive the growth of EOS by funding and empowering the hundreds if not thousands of people building within the EOS ecosystem.

Through the allocation of funds from the EOS Network Foundation, anyone can join Eden and Pomelo and have the opportunity to work within the EOS ecosystem to move it forward. As long as other EOS token holders believe that the work they do is valuable, these people can get paid for their time and energy, including marketing, open source code, community building, education, hosting, etc. Events, hackathons, and other value-added work on EOS, etc.

These related mechanisms make EOS DAO operate more like an enterprise, with many different individuals, entities, and businesses working in parallel to realize the unified vision for EOS formulated by the EOS Network Foundation. We are unwavering in our commitment to fulfilling our mission of enabling developers, businesses, and individuals to build relevant applications on the EOS ecosystem.

first level title

07 Conclusion

I mentioned earlier how the EOS ecosystem has lacked hope and optimism over the past two years. With the internal efforts being executed by the EOS Network Foundation, as well as our direct investments, sponsored working groups, Eden initiatives, and grants through Pomelo, we believe there are countless things to look forward to in the EOS ecosystem.

I want to create an environment in the EOS ecosystem where so many things happen and grow so fast that other networks can't keep up with the EOS Foundation. In this environment, there is always something to look forward to in the future that can bring us all together as champions of the community.

If you want to join us in making this happen, or want to hear about everything discussed today, then I strongly encourage you to join our new EOS Community Discord channel, where we can come together as a whole ecosystem.

Finally, thank you very much again for participating in today's event, please follow us to join this movement, let us present a wonderful ecological comeback story to the world.