BOS Newsletter — August 28th
Written by BOScoin
August 28th 2018
BOS Newsletter — August 28th, 2018
Proposed MainNet Rewards Schedule:
Membership rewards are paid at least once a month, and the minimum period coins must be frozen is 14 days. Example. You freeze coins, and decide the next day to unfreeze the coins, once you “un-freeze” the coins in the wallet, they will not be available to transfer until after the locking period which is 14 days.
Freezing rewards and Confirmation rewards are consolidated into Membership rewards. You are no longer able to receive any rewards in exchange for only freezing coins. You need to acquire membership.
To sign up for membership requires an individual to conduct KYC (which requires a passport, and a photo taken from your phone camera — this is all done through the BOScoin mobile application), freeze at least one unit (10,000 BOS is one unit), and agree with delegation.
In the old reward system, you would receive freezing rewards and confirmation rewards if you run a node. There would be some expenses to run a node, but you would receive approximately 13,300 BOS yearly per 40,000 BOS frozen. However, in the membership reward system, you would receive about 13,000 BOS yearly for membership, and have no costs.
In short, in the membership reward system, big holders have a slight reduction in their earnings, but because there are no costs associated with running a node, the net profit stays very similar. The slight reduction in large BOS holders rewards has been redistributed to those who own 10,000 BOS, which accounts for the increase in their rewards from 10% to 32% per 10,000 BOS frozen.
In the short term, members will delegate node operation, but BOSnet is planning to be an open system with public nodes. Until that time, the community temporarily needs to delegate the operation of nodes to BlockchainOS.
This is the proposed rewards schedule for mainnet, and it will be voted on by the community. More information on the vote will be published when it’s available.
This is our first public financing proposal, PF00.
BOS Platform Development updates
The next version of ISAAC, which is our consensus protocol for SEBAK will be released next month, and SEBAK is on schedule to be made public in Q4 of 2018.
BOScoin Meetup — Seoul, Rep. of Korea
Our team presented our proposed rewards system to the Korean community on Aug 22.
Upcoming Meetup (Seoul)
Four of our partners are holding a meetup in Seoul to discuss their plans to leverage the BOScoin eco-system in their businesses.
When: Sept 3rd, 2018 (11;00AM ~ 17:00PM)
Where: The Plaza Hotel, Seoul
Who: Pay Express, Forbiz, Korea Cashback, Nature Mobility
August — Ask Me Anything with CEO, Yezune Choi
We’ve published the most recent August edition of our monthly AMA on our website. The next AMA will open on 1 Sep.
BOScoin — Ask Me Anything — Development — August
BOScoin — Ask Me Anything — Management and Foundation — August
BOScoin — Ask Me Anything — Other — August
Note: Any questions which are repeat questions, not constructive in nature, don’t serve the interests of the broader community, are inappropriate and/or vulgar in nature will not be answered.