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What is the EOS PowerUp Model (PowerUp)?
Under the EOS PowerUp model, all NET and CPU resources have to be rented out from the system contract. Initially, the EOS PowerUp model is optional and will replace (over time) the existing staking system and REX rental. The EOS PowerUp model channels fees to the REX pool to enable token holders to profit off their tokens.
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How do I get ready for the PowerUp?
EOS PowerUp Model code review is ongoing now. If you are a token holder that holds EOS on a wallet, no further action is necessary at this stage if you already have REX. If you don't have REX please go to the REX interface and get REX.
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What are the risks of EOS PowerUp Model?
EOS PowerUp Model is a system contract and will be deployed on the account eosio.reserv, used to configure the rental system. There is no third party which means you don't trust anyone. As a holder, you rent resources using the EOS PowerUp model. After the loan expires the rented resources return to the eosio.reserv account.
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Benefit of EOS PowerUp Model?
The main goal of the PowerUp is to ensure that resources are being used efficiently without speculation, without downtimes and no more unused shares of resources.
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What's going to happen to REX returns?
As all transactions will be paid, we expect REX returns to increase significantly. You will be able to calculate the current REX returns on our REX calculator.
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Where can I send my feedback?
EOS Authority have setup a dedicated telegram group for the EOS PowerUp Model. We have various thought leaders in the community taking part in the technical discussions. You are welcome to join the group and contribute.
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What does EOS Authority think?
We believe this is great for the community. The PowerUp will stabilise CPU resource pricing, reduce CPU costs, and make CPU access predictable. The proceeds from CPU and NET rentals will still be distributed to those staked in REX.
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How do we transition to the PowerUp?
The system contract can be configured to manage a certain share of overall network resources to the EOS PowerUp model and then adjusted to increase this share over time. System configuration parameter determines how much EOS is allocated to the various mechanisms: staking, REX and for the EOS PowerUp model.
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How can I get resources with the PowerUp?
The EOS PowerUp Model will be available soon but it is not here yet. We will have an easy to use and clear interface for the community to use. We will release it on this page only when the EOS PowerUp Model is live. Keep this page bookmarked.
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How is PowerUp better than REX?
We have a detailed statistics for REX usage on the EOS Mainnet. The demand for transfers were so high in November that the resource exchange, REX ran out of EOS tokens to lease. The PowerUp on the other hand will theoretically never run out of resources as the price grows exponentially as the percentage of CPU leased increases.
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Is there a voting requirement?
Yes, to get REX and earn a return on your tokens. As a DAPP, there is no voting requirement prior to being able to rent out tokens on EOS PowerUp Model.
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Will I have to pay for transactions?
EOS has the ability of service providers to cover CPU costs on a per-transaction basis for their users, we already do this on the EOS Wallet. We expect to see more innovations in this space.
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Where can I learn more about the PowerUp?
Here are various links, post by Dan, EOSIO Resouce Allocation Proposal, The PowerUp code, The PowerUp deployed on Jungle, B1 article on PowerUp. Please keep an eye on our Twitter and Telegram groups for updates. This page will be updated frequently.
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When can I expect to see the PowerUp in action?
EOS PowerUp Model after development by Block.one is under code review by EOS Authority and the community. Block.one have been amazing and responding to our feature requests. Stay tuned for frequent updates here.
