Block.One: EOSIO Resource Allocation Proposal

Block.One published a new proposal for resource allocation for EOSIO chains , which could fully stabilize the CPU/NET marketplace on EOS.

The proposed solution is designed in particular to solve some malfunctions of the Resource Exchange. (REX) Indeed, recently a spike in demand for processing power on EOS, has completely removed the liquidity on REX, making it unusable, while not maximizing the available resources.

The proposed solution aims to ensure that every user who want to use resources on the chain will pay a rental fee for these resources that expires every 30 days. This must automatically renew itself with a dynamic price. The price should be set using a market based mechanism, based on changes in supply and demand for CPU/NET resources.

"Users will still be able to stake tokens under this proposed resource model. However, instead of receiving CPU/NET resources in proportion to staked tokens, users who stake their tokens to REX receive certain fees from name auctions, RAM fees, and proceeds from CPU/NET rentals."

With a dynamic pricing system based on resource usage, we can make resource allocation more predictable and reliable.

To move from the current system where EOS tokens guarantee a percentage of mainnet resources, to a system completely based on a rental market, the percentage of resources guaranteed by EOS tokens will have to be gradually lowered. This will be moved little by little to the new proposed system.

We are proposing this change to the REX system in order to reduce systemic waste and improve scalability by having enough CPU/NET to meet the growing needs of the network.

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Sources:

• EOSIO Resource Allocation Proposal

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