eosDAC

The Community-Owned EOS Block Producer

and DAC Enabler

Watch this simple one-minute video explainer to find out more about eosDAC

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EOS.io Software

The EOSIO Software being developed by Block.one facilitates the first highly scalable smart contract blockchains, with transaction fees covered through small levels of token inflation. This allows the development of genuinely scalable decentralised applications, and online/onblock businesses which are owned by their communities.

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EOS Block-Production

Instead of ‘mining’ on the Proof-of-Work algorithm like Bitcoin and Ethereum, EOSIO blockchains use the Delegated Proof of Stake algorithm, whereby token holders vote in 21 main block producers and 100 reserve producers. These block producers require major infrastructure to handle enterprise class decentralised applications and need to be significant entities capable of scaling as required. Block producers are paid through the limited inflation of EOS tokens in circulation.

Introducing the Decentralised Autonomous Community (DAC)

A Decentralised Autonomous Community (DAC) is governed by its constitution, which is encoded in smart contracts on the blockchain. This revolutionary way of bringing a community together as a cooperative is made possible by the EOS software. The DAC is controlled by its token holders and the board members they vote to run its operations.

The Community-owned EOS Block Producer

It is the vision of eosDAC that EOS.IO block production should be open for everyone to contribute and benefit. To realise this vision, eosDAC is an evolving Decentralised Autonomous Community (DAC) focused on EOS.IO Block Production serving the EOS communities worldwide. In doing this, eosDAC will create the tools and smart contracts it needs to function. It will share these with the EOS communities to help other DACs thrive on the EOS.IO blockchains.

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eosDAC is creating a DAC on the EOS blockchain at the beginning of June 2018, until then eosDAC is being run by its Launch Team. Members of the Launch Team have been deeply involved in the EOS community for the past 6 months and are already producing blocks on EOS community testnets. Currently eosDAC tokens exist on the Ethereum blockchain, these will transfer onto the EOS blockchain once it is operational.

Legal & Financial Interface

eosDAC has an exclusive arrangement with eosDAC Ltd to carry out all necessary interfacing with worldwide legal and financial regulations that must be met in order for the DAC to operate. eosDAC Ltd will maintain transparency on all its costs and will offer services to eosDAC at cost-price. This contract can be renegotiated or terminated at anytime in the future by eosDAC, should its token holders vote to do so.

eosDAC Tokens:

Majority-Owned by the EOS Community

eosDAC tokens were airdropped at a rate of 1:1 to the EOS token holders as of the 15th April 2018. The rest of the tokens were given to the Launch Team, Advisors, Community Supporters and eosDAC Ltd. Without whose contribution of time, energy, and financial resources eosDAC would not have come into existence.

eosDAC Network Architecture

The key object has been to achieve a wide geographic and jurisdictional coverage with block-production infrastructuredeployed in the United Kingdom, Romania, Gibraltar and South Korea. The Launch Team will cotinue to use its considerable experience of high-level data centre operation and Tier 1 internetworking design & implentation to ensure shortest latency, maximum efficiency and solid redundancy within our network architecture.

eosDAC Roadmap

2017

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June - December

Project Research and Conception 100%

2018

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January

Testing on the EOS Community Testnets 100%
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February

Launch team established 100%
Testing on the EOS Community Testnets 100%
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March

Website Creation 100%
Testing on the EOS Community Testnets 100%
Community 100%
SNS + Telegram 100%
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April

EOS Token Snapshot 100%
Testing on the EOS Community Testnets 100%
Beyond Block Production Vision Published 100%
Airdrop 100%
Exchange Listings 100%
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May

Airdrop Completion 100%
Creation of DAC Constitution 85%
Redesign of Website + Animated Explainer 75%
Testing on the EOS Community Testnets 80%
Set up of Production Infrastructure 90%
DAC toolkit Roadmap and initial functionality 60%
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June

Mainnet Launch
BP Election
eosDAC Launched on EOS chain
eosDAC Custodians Voted in by Members

eosDAC Core Principles

Excellence of Service Provision

The primary objective of eosDAC is to ensure that it is able to continuously produce blocks required by EOS.IO software driven blockchains.

Openness and Transparency

All decisions made by the eosDAC governance structures and all operations of eosDAC will be open and transparent.

Support of EOS Communities Worldwide

We want EOS.IO blockchains to flourish so we will engage with EOS communities with a view to initiating and supporting projects that benefit all EOS.IO blockchain communities. This will include tools for other DACs.

Fairness

eosDAC will treat all members fairly and reward contributions appropriately. No one member should have less information about a decision than others.

Independence

eosDAC will not seek any significant stake in, or undue influence over, other block producers. It will also take appropriate measures to protect its own independence.

Electoral Fraud

eosDAC will never provide payment for votes from EOS token holders.

eosDAC Launch Team

After the DAC is launched on the EOS blockchain in June 2018, eosDAC will be a Decentralised Autonomous Community, run by its token holders. eosDAC token holders may or may not choose to vote for this team, or a combination of this team and new members, to continue eosDAC’s operations.

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Rob Allen

Rob has a background as a software developer and has run game servers. More recently he has been managing software implementations for international finance companies and government institutions. Rob is convinced that the true power of the EOS.IO software is that it will facilitate DACs which will have significant far-reaching positive social impact.

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Michael Yeates

Michael is an expert on various technologies and was the founder and Managing Director of a successful eCommerce platform. Members of the EOS community are likely to recognise Michael’s name as he is highly active within the EOS community. Michael key focus is working to create the foundation for the next generation of distributed systems.
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Luke Stokes

Since the middle of 2017, Luke has been a block-producing witness on the STEEM blockchain. He bought his first bitcoin in January of 2013 and has been passionate about cryptocurrency and decentralization ever since. In 2007, he co-founded and built the ecommerce shopping cart platform FoxyCart.com which he sold to his business partner in 2018 to focus full-time on the blockchain space.

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Will Stephens

Serial entrepreneur from childhood, Will started his career as Sales Director for one of UK’s leading Internet Backbone Networks, before going on to be founder, director, consultant and founding shareholder of many start-ups in the realms of web-hosting, linux open source software and healthcare, including a leading plant-based pharmaceutical company currently valued at over $3BN on NASDAQ.

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Ravi Bahadursingh

Ravi has over 20 years of legal experience, particularly in the areas of corporate, commercial and financial law. Ravi has an LLM in International Economic Law and has considerable experience with in-depth cross border litigation. He was involved professionally with the legal issues facing some of the earliest financial cryptography efforts (DigiGold, E-gold) and is currently working with the Government of Anguilla to introduce ICO regulation, and therefore is ideally placed to advise eosDAC on its ‘off-chain’ interface with the current legal, financial and regulatory systems.

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Daniel Harris

Daniel sold his first company, Cerbernet, an ISP, in 2000 for 4M GBP. Since then he has been leading the nonprofit open source music/media research alliance, Kendraio – aiming to drive interoperability between and within every link in the content value chain. Having raised over 1M EUR in research grants, Kendraio is funded into 2020. Daniel currently project manages Kendraio App development and is also researching blockchains for the music/media industry.
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SungHwan Won

• SungHwan has over 21 years of IT, Security and Business Excellence(LEAN) experience. He was a globally experienced and highly accomplished ISIT & Project Executive with a success in key leadership roles for one of the world’s top multinational CPG companies. Breadth of experience across both small-scale operations and larger developed businesses bringing a unique combination of entrepreneurial and corporate skills.
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Soyoung Kim

Soyoung is passionate about using arts & humanities to pursue the building of bridges across cultures. Having localised some of the world’s best-selling video games,she has also helped various online and offline communities to grow by motivating and bringing people together and is working to do the same within the Korean EOS community.

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Cris Pak

Cris works in graphic design and is a representative for promoting eosDAC within the Korean community. Cris is a highly valued member of the Korean EOS community and is passionate about EOS technology, its ecosystem and philosophy.

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Sunny Kim

Sunny is a pioneering spirit in technology and culture, who has successfully worked on worldwide release of some of the major titles for the Video Games industry. An innovative figure whose background is multicultural as well as diverse, Sunny is dedicated in giving life to the vision of how technology can benefit humanity. Sunny has previously helped in the designing, launch and establishment of online communities. Sunny is leading eosDAC’s interaction with the Korean EOS community and its social media channels.

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Andrew Furmanczyk

Andrew built a YouTube channel, website, and online community with over 350K subscribers that has reached over 45M learners. He has a broad knowledge base with skills in, education, media production, photography, business development, public speaking, finance, project management, entrepreneurship, and has been a crypto-enthusiast since 2014. He’s spoken on education at the San Francisco Music Technology Summit, appeared in Forbes, and Exhibited at CES.

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Abe Stupple-Harris

Abe has a degree in music and business from the University of Westminster and specialises in intermediation in creative industries. Abe is also a music producer and project manager at Kendraio, an open source software developer dedicated to improving copyright infrastructure. He is excited to help bring eosDAC to the attention of the EOS community at large through all the key english-speaking social media channels.

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Sebastian Stephens

Sebastian built what was at the time Europe’s largest private Data network through 18 countries, which was sold to Cable & Wireless in 1999. In 2000 he moved to the Caribbean, where he spent 8 years building the Southern Caribbean Fibre Network. Today his main focus is SubSea Networks, an undersea cable provider specialising in cost effective & innovative network construction.

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Alexander Soskin

Alex has twenty years experience in the film and TV industry, work ranging from Oscar nominated movies to Emmy award winning tv series. He has extensive knowledge of AVID media composer, Final Cut Pro and Adobe Premier along with most online picture and sound post production. A native Londoner, Alex moved to Los Angeles twelve years ago, where he lives with his wife and two daughters.

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Gordon Hill

Gordon is a self-taught marketing, development and project manager who works day to day developing payment, ecommerce and marketing solutions. He recently pioneered a custom built system to allow Bitcoin and AltCoin payments through niche markets increasing their overall use by 300%. He runs a team of permanent and temporary staff comprising of content writers, researchers, graphic designers, developers and social media engineers. Since joining his current company in 2011 revenue has gone from 2M to 10M a year.

BIO PIC 2018

Mike Q Hainsworth

Mike Q has been working within Internet and communications since 1996. He had a brief spell working in the finance sector rating Russian banks in Moscow during the early 2000s. He has held management and director roles within start ups and large corporates. Currently Mike Q is the MD of Incommsec Ltd an infrastructure and cyber security solutions provider, he is also a property investor and GDPR Practitioner.

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Nasreen Bahadursingh

Nasreen is a law graduate from University College London, University of London and a Barrister at Lincoln’s Inn. She has worked in the field of Corporate Management for a number of years specifically dealing with international business companies. She has followed the drafting and enactment of the Anguilla Utility Token Offerings Act with active interest and is passionate about the applications of the blockchain enterprises. Nasreen is the Managing Director of eosDAC Ltd.