That does put this proposal somewhat less favorable. With the amount of token asked here, we can do more public good by distributing 20% of it to solo validator and beacon chain contract depositor.
Yes, but that was in the context of airdropping a few hundred OP to people who had already set up validators themselves. Thatās a very different situation to giving away all the funds needed to run 10 validators to one entity. Itās more than 2,000x different in fact!
All weāre asking for is the community to support and help decentralize the Ethereum network. I spoke at length with @OPUser on discord and put in additional checks and balances. For most of the last 2 weeks weāve had quite good community support for the proposal and would love to have your endorsement.
Iām afraid I have yet to be convinced of the value of this and so as of now will be voting no. Obviously my opinion my not be shared by all and so I guess weāll see when it moves to Snapshot.
I have gave this some extra thought and although I donāt see it really benefiting OP in terms of usage or adoption, I do think it would fit as a public good.
The reason why is because a lot of the ETH validators today are mainly owned by large groups and having more individual ETH validators would be a benefit to ETH which benefits in return OP.
My only concern is that how long will you run these nodes for?
Also it may be best to have multiple projects run ETH validators as a public good rather then just this 1 project.
After what @MinimalGravitas shared earlier, I am also thinking about my position on this too. Both are public good, one side you are giving a single entity all the token but in return you are getting something extra and on the other hand, you are giving small amount to many entities but not getting anything extra in return.
Same, I donāt see any value since anyone can do it (as you said), even buying (and eventually burning) OP is meaningless compared to the initial impact of selling 800 000 OP for ETH. Also I donāt see any prediction for how long it will take to buy back and burn 800 000 OP tokens (considering the proposal Iām guessing itās more than 20 years).
It could be a requirement for all node validators to burn 50% of the profits if they were to be funded. My main concerns with anyone getting funds for nodes would be:
1- How long will the nodes be running?
2- What happens to the ETH after they stop running?
3- The profit from the nodes will take several years or more to even match what was originally dumped
Although its a public good I donāt think 1 person should be given funds for nodes. It should be split between multiple individuals if nodes are to be funded.
Even if its a requirement for all node to burn 50%, after reading the already existing idea to reward the solo validator, I am more aligned towards them.
We can reach much wider audience, we need to spend few % of 800K to do so and on top that, those funds will come from RPGF and not from gov funding.
also as Solarcurve has mentioned earlier:-
I think we can find higher impact causes to support.
Again to circle back with all this new information and ideas, I think instead of funding the node, rewarding the existing one is better idea and more towards public funding. Again not from Gov funding, that will come under RPGF funding.
It like the sound of airdropping OP retroactively to validators/contributors as I run one through rocketpool.
But I donāt agree you should be be voting on this proposal seeing as you say youāre biased here and prefer an airdrop instead in that other link you posted earlier.
The retroactive airdrop idea isnāt near a proposal yet, but I do agree that when it gets to voting those of us who might benefit from it should abstain. Thereās possibly an issue that a large number of the delegates will also run validators/minipools and so the number of people left to vote might be small, but maybe this could be rectified by splitting the proposal into 2 parts, solo-stakers first (so you and I could vote) and then at a later date think about other stakers, such as RocketPool node operators (at which point we could abstain).
I guess thereās also the slight risk that some people wouldnāt admit to the conflict of interest and wouldnāt mention that they have a validator running, but for the relatively small number of OP weāre talking about issuing Iām not sure this mattersā¦ would anyone risk their reputation for the equivalent of about $150? Iād hope probably not!
Retroactive airdrop will be very less in term of $ and I am talking lower triple digit number, if that is enough to motivate someone decision then I think we are doing something very wrong.
I am supporting that idea and not expecting anyone to abstain.