ENF Q3 2023 Quarterly Report
Every quarter the EOS Network Foundation (ENF) provides the EOS community with an overview of its activities, grants, and financial expenditures in a detailed report.
The ENF provides support, funding and the coordination of resources necessary to make EOS a thriving ecosystem. We’re harnessing the power of decentralization to chart a coordinated future for the EOS Network as a force for positive global change.
Check out the latest report for an in-depth look all the major milestones from across the EOS ecosystem, including:
- Notable Growth Metrics
- Latest Updates from the EOS EVM
- Notable Partners
- Developer Relations Efforts
- Event Presence
- Technical Developments
- Antelope Coalition
- Ecosystem Roadmap
- And More
A Message From the CEO
As we navigate the unknown terrain of a market that is, by nature, dynamic and unpredictable, the path we choose to travel can often seem unclear. Our willingness to endure uncertainty with courage, and our capacity to harness adversity as a catalyst for growth, is what gives us the strength and clarity we need to continue. The potential to further enhance our network’s antifragility, is what drives my work at the EOS Network Foundation (ENF). Together, we are continuing our efforts to foster a more decentralized and collaborative ecosystem.
In my travels throughout Asia, at meetings with government and industry leaders in the region, it has become clear that Asia is not just witnessing but leading a pivotal shift from adaptive compliance to proactive facilitation of web3 friendly regulation. Amidst this proactive regulatory leadership from Hong Kong, Japan, Singapore, and South Korea, EOS is planting seeds of collaboration and growth. During this last quarter, I secured my Hong Kong residence visa, underscoring a personal and organizational commitment to cultivating deep-rooted connections in a region where governments are not just observers but active facilitators in the blockchain landscape.
The recent whitelist approval by the Japan Virtual and Crypto Asset Exchange Association (JVCEA) and Japan’s Financial Services Agency (FSA), heralding EOS’s entry into the Japanese market, signifies more than an achievement; it epitomizes the global trust and confidence in EOS’s reliability, security, and innovation. In tandem, our engagements with Hong Kong’s InvestHK, Cyberport, and strategic developments with other regional industry leaders, are not simply collaborations but waypoints on the path towards weaving the EOS Network into Asia’s economic and technological framework.
These waypoints in Asia are also mirrored by significant internal EOS ecosystem developments. In February, we witnessed the roll-out of a system contract that transformed the EOS Network’s internal funding distribution. This innovation makes it possible to programmatically allocate network issuance, leading to a direct funding mechanism for contributors and creating the possibility for more robust and autonomous ecosystem development.
In Q3 we saw the emergence of EOS Labs, led by the visionary Huaqiang Wen. Driven by a mission to synergize web3 companies with resources, insights, and infrastructure, EOS Labs is poised to be a vital new organ of the EOS Network serving to invigorate the ecosystem. Towards this end, the ENF has committed 25% of its budget to see the potential of EOS Labs realized. In time, should the EOS Network block producers deem it beneficial to the network, they will now have the ability to begin funding EOS Labs directly through the aforementioned system contract. In this way, the ENF is helping to facilitate a process of new, specialized entities coming into being, lessening dependence on any one organization, and further increasing the antifragility of our network.
Our technological foundation also continues to evolve through the relentless pursuit of excellence by EOS engineers as they advance the free and open source Antelope Leap software underpinning our network, as well as all other Antelope based blockchains that make use of it. The forthcoming release of Leap 5 brings even greater flexibility, speed, and efficiency to an already world class Layer 1 blockchain. Alongside this crucial work, our development of the EOS EVM, and an industry leading trustless bridge, speak to our unwavering commitment to reliably and securely increase interoperability with the wider blockchain ecosystem of which we are a part.
“To an outsider, the chaos might appear overwhelming.”
—Ori Brafman, The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations
In Brafman and Beckstrom’s seminal work, “The Starfish and the Spider”, they liken decentralized networks to a starfish that can regenerate its own limbs. Starfish organizations can adapt and survive despite outside pressures, and because they don’t rely on a single leader or central command, each part can operate independently while remaining integral to the whole. Spider organizations, by contrast, rely on a single central entity, without which they cannot continue to survive. Each new initiative within the EOS Network, such as EOS Labs, signifies the emergence of an adaptable and autonomous segment of our whole. Each partner, each node within the broader EOS ecosystem represents the potential for additional segments to emerge. Our network’s evolution is not linear, it is a living, organic process, informed by a multitude of network participants. Each participant contributes to our progressive antifragility, as they develop more informed responses to the beautiful chaos through which we move.
Each evolution, each setback, each alliance, is an important step on the journey. The road that we walk may be fraught with uncertainty, but we can see the true potential of the EOS Network more clearly than ever. We’re not just passive witnesses to an unfolding narrative, but active participants in a dynamic process of network evolution. With each step, we will continue to discover a network that reflects our collective strength and vision.
Onward,
Yves La Rose
