The Use of Utility Token Staking Rewards by Peter Zeitz & Will Warren (Devcon5)

Fri, Oct 2, 2020, 12:00 AM

Visit the https://archive.devcon.org/ to gain access to the entire library of Devcon talks with the ease of filtering, playlists, personalized suggestions, decentralized access on IPFS and more. https://archive.devcon.org/archive/watch/5/the-use-of-utility-token-staking-rewards The utility token is based on the concept of user ownership. In principle, token-based voting can empower the users of a utility token project to oversee its long-term development. In practice, however, a very large proportion of circulating utility tokens are held by speculators, rather than actual users. The talk will discuss our efforts to improve the utility token model through the introduction of a staking process that incentivizes user ownership. We will explain the process we followed to map our governance objectives into a specific staking mechanism. The talk will explain how this mechanism incentivizes ownership among a target user group, penalizes socially harmful behaviors, and collects and distributes fee revenue in a manner that satisfies basic fairness norms. Speaker(s): Peter Zeitz, Will Warren Skill level: Beginner Track: Society and Systems Keywords: staking, rewards, general Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum Learn more about devcon: https://www.devcon.org/ Learn more about ethereum: https://ethereum.org/ Devcon is the Ethereum conference for developers, researchers, thinkers, and makers. Devcon 5 was held in Osaka, Japan on Oct 8 - 11, 2019. Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/