Everything EOS Weekly Report — November 12th
The Everything EOS Weekly Report publishes all of the latest news and updates from around the global EOS ecosystem with stories and updates from projects and community members that are part of the English, Chinese, & Korean EOS communities!
First Recover+ Success
Recover+ is an EOS initiative that streamlines the process of freezing funds in the event of a hack or exploit. The EOS Network Foundation (ENF) has seen a real-world test of this framework for the first time with an exploit in the Pando Rings DeFi project, with great success.
On November 5, 2022, at 20:10 UTC, an attacker used a price oracle exploit to manipulate Pando Rings’s wbtc-pbtc price, draining the lending pool with minimal collateral. The attack involved about $70 million in cryptocurrency, of which the attacker successfully stole $21,877,098.03, including 2,166,438 EOS.
After they detected the exploit, Pando Rings proposed a multisignature transaction and provided details of the exploit. Thanks to the Recover+ initiative, these steps gave Block Producers the context necessary to reach a consensus on updating the account permissions and preventing further losses.
Overall, 2,020,662.9979 was recovered directly from the attacker’s account. This recovery represents a tremendous win for the Recover+ program, which, uniquely among affected protocols, prevented further loss of assets.
Yield + Report for October
Yield+ is a liquidity incentive program inspired by the most successful DeFi incentive programs. The October 2022 Yield+ report provides insight into the progress of the Yield+ program over the month.
Yield+ entered its second phase on October 17 and increased TVL rewards from 1% to 5%. The most important metric, TVL/Market Cap, shows promising signs. Although we have again seen a reduction in TVL and Market Cap in the broader crypto market, there has been a 7% growth trend in the key TVL to Market Cap ratio.
The original Yield+ Blue Paper highlighted three core stages of a Layer 1 chain’s value proposition. In the current stage, the Yield+ reward mechanism primarily aims to drive adoption through the TVL to Market Cap ratio, which shows promising data that suggests true ecosystem growth.
P2P Discovery Request For Proposal
The Antelope Coalition, composed of members of Antelope blockchains, has outlined its Request For Proposal (RFP) for improvements to Peer-to-Peer (P2P) discovery.
P2P discovery is the first part of a multi-stage P2P rewrite that improves communication between block producers, API nodes, and other nodes. This project aims to improve sync time for nodes and reduce the complexity of BP infrastructure.
This RFP outlines a backward-compatible automatic peer discovery option, which would help a user bootstrap a node on any Antelope network by automatically retrieving a list of public nodes and connecting to them.
ENF at Token 2049 in London
The EOS Network Foundation is in London this week for its second Token2049 event.
The ENF’s Yves La Rose spoke on Thursday at Europe’s premier crypto event, which reached full attendee capacity and welcomed thousands over two days from 9-10 November.
Coinciding with London Crypto Week and situated by the heart of London’s financial district, TOKEN2049 London serves as a meeting point for entrepreneurs, crypto enthusiasts, and industry insiders.
Happy Pomelo Anniversary
Pomelo is an open-source crowdfunding platform inspired by Gitcoin to fund EOS-based projects using quadratic funding. Quadratic Funding (QF) has proven mathematically optimal for funding community public goods. It gives greater weight to the number of unique contributors, so more funds go to grants with more unique donors.
Pomelo is celebrating its first anniversary this week as grant owners prepare for applications to open on November 14. Anyone with a grant should sign up for one of the pitch sessions to share their pitch.
The Pomelo pitch sessions help grant owners connect with the EOS & Antelope community. Your grant must be approved, and you must have the link to your approved grant to apply for a pitch session.
Over the past year, Pomelo has empowered hundreds of builders across the EOS community. These developers and creators bootstrapped some of the most powerful applications in the ecosystem. Most importantly, the community collectively selected and curated these initiatives, proving that decentralization and community participation are part of a virtuous cycle of protocol development.
EOS Support Surveys
EOS Support has gathered survey responses about the usage patterns of various technical features, including block log directories. Respondents can still make their voices heard by filling out the blocks.log survey.
Community feedback plays an important role in securing the future. Through well-thought-out technical surveys, EOS Support assists the community in aligning its diverse interests.
BPs and other participants who respond to EOS Support surveys help guide the destiny of the EOS network, fostering trust and aligning participants in a common mission. EOS Support surveys help put the future back in the hands of the community.
Upland News: FIFA World Cup 2022, UIP 1, and Multiplayer Racing
Upland is a property trading game mapped to the real world. It is one of the top ten most popular dApp games and the top Dapp on EOS.
Upland has recently announced several initiatives, including an Upland Improvement Proposal (UIP), multiplayer racing, and a partnership with FIFA for the 2022 World Cup.
FIFA partnered with Upland to provide a comprehensive metaverse NFT experience for the 2022 World Cup. Users can collect official FIFA-branded NFTs and show off their collection in the Upland metaverse. You can find full details under the FIFA section on Upland’s website.
Upland has also introduced a new feature, multiplayer racing. Players compete in three-lap, six-car races against other racers and AI bots while spectators watch and cheer on the action. Upland currently features four multiplayer race tracks, with more courses coming soon.
Upland has also proposed an improvement to the Upland ecosystem called UIP-1, which was outlined in an Upland town hall. This Upland Improvement Proposal is a proposed change to the Upland Pool’s funding mechanism.
There are two pools of UPX, the Upland Pool and the Community Pool. Each pool serves a different purpose within the Upland ecosystem.
The Upland Pool is a collection of UPX tokens that Uplandme Inc sells to fund Upland’s operations and development. This funding method ensures the team’s continued ability to improve the Upland platform. The Upland team distributes UPX tokens via the Upland Store.
To date, there has been no inflow of UPX into the Upland Pool, which has given the Upland team time to study the economy and determine the right formulas to calculate the ongoing inflow of UPX.
The Community Pool creates incentives and reward systems for the Upland ecosystem. Marketplace trading fees, property minting fees, and other UPX fees are paid directly to the Community Pool to support Upland’s reward mechanisms.
The new Upland improvement proposal UIP-1 redirects some of the Community Pool into the Upland Pool to fund development without increasing the UPX supply. This inflow protects the integrity of the Upland economy without relying on token supply inflation to fund the Upland ecosystem.
The larger goal of this initiative is to give the Upland community more control of the Upland world. It aligns the Upland community’s interests by introducing sustainable long-term funding for Uplandme Inc’s R&D and operation services.
These developments in Upland provide a compelling case for the power of decentralization as the community steadily gains control over the Upland ecosystem’s trajectory and ultimate destination.
WordProof Roadmap Update
WordProof is a timestamp solution that currently offers a plug-and-play solution for WordPress and Drupal websites and features an API for custom integrations.
The WordProof team is working on plugins for Shopify, Wix and Squarespace. The WordProof plugin for Shopify will launch first in Q4 2022. Plugins for Wix and Squarespace will follow in Q1-Q2 2023.
When Wordproof launches plugins for these CMSes, users can install Wordproof in a few clicks on 78% of the websites using a CMS.
WordProof founder Sebastiaan van der Lans shared the vision of building a Trusted Web at a leading European search conference, Friends of Search. Over 600 professionals from the Search Engine industry attended, including leaders from Google and Microsoft. In a keynote presentation, Van der Lans made a compelling case for WordProof’s solution. He also shared more details in a conversation with blockchain pioneer W. Scott Stornetta.
Weekly EOS Community Events & Upcoming Conferences
As always, we host Fireside Chats in the EOS Community Discord every Wednesday at 19:00 UTC. Everyone is welcome to attend and ask questions directly to some of the best builders in EOS. We look forward to seeing you there!
This week the EOS community will have a presence at the following conferences:
- DCENTRAL Miami, Miami, USA, Nov 28-29 (Mon-Tue) (website)
- TECHEX Blockchain EXPO, London, UK, Dec 1-2 (Thu-Fri) (website)
The EOS community also hosts many online events that anyone can join every week:
- Eden ƒractal, Wednesdays 13 UTC on Zoom (Discord, Twitter)
- Helios Futurist Series, Wednesdays 14 UTC on Twitter Spaces, (Twitter, Website)
- EOS Fireside Chat, Wednesdays 19 UTC on Discord (Youtube, Short Clips)
- EOS Support Giveaway Show, Thursdays 16 UTC on Twitter Spaces (Twitter, Website)
- Hot Sauce, Fridays 16 UTC on YouTube (YouTube, Twitter)
- Helios Twitter Spaces, Fridays 17 UTC (Twitter, Website)
- Eden Town Hall, Sundays 16 UTC on Zoom (Discord, Youtube)
EOS Network
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope protocol, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
EOS Network Foundation
The EOS Network Foundation (ENF) is a not-for-profit organization that coordinates financial and non-financial support to encourage the growth and development of the EOS Network. The ENF is the hub of the EOS Network, harnessing the power of decentralization as a force for positive global change to chart a coordinated future for EOS.
