EOS Mainnet is coming: things you need to know

EOS tokens in the Ethereum network will be permanently frozen within 23 hours after June 1 22:59:59 UTC! Since the publication of this post, it remains just over 2 days to withdraw the EOS tokens from the exchange and register them according to the official instruction about transferring tokens to the EOS blockchain(s): https://eos.io/instructions (if this link doesn’t work, go to “registration instructions” manually at the bottom of main page).

Also this is the last chance to sell EOS tokens, if you decide so before the shake-up associated with the EOS main network launch. For the time EOS will be non-liquid, perhaps for a week or even more. The exchanges may delay start of EOS circulation for additional time, as they often do. We do not recommend buying or selling EOS, we just inform.

One more important thing about your tokens! Leaving frozen EOS tokens on the exchange, you are not be able to vote for your block producer (BP). Why do you need to vote? The point is the BPs decide how to distribute new tokens that appear as a result of the planned inflation. And a significant share of these new tokens are obtained by the BPs itself. By the way, inflation set by the algorithm is 5% per year. It is easy to calculate with the current capitalization of EOS ($11 billion), this makes $550 million per year. Divide by 30 BPs (with a reserve) and 12 months receive $1.5 million per month for BP - a very significant amount. At the same time, support of the BP infrastructure is currently barely reach even $10,000 per month without overheads, but this amount may increase sharply after the launch of the main network.

These calculations are approximate and show the common figures. For now all BPs declare that they will not pay voters for their votes, but no one promises this policy will not change. Thus, there is a high probability that soon we’ll see "pools" of votes, whose participants receive money from their BPs for every minute, hour or day while their voice belonged to the pool. By the way, in EOS this can perfectly be realized by smart contracts directly on the network (onchain). But on the exchanges this case for you, dear EOS holders, is closed.

And the most interesting! How will exactly the upcoming launch of EOS go? No one knows for sure. There is a non-zero probability that several EOS networks will be launched, the internal coin of which will have value and liquidity. EOS Cash, EOS Gold, such as. The reason for this is that there are only 21 active BPs ("miners") in the EOS network. Suppose, a ten more will be useful for securing. And there are already 186 active potential candidates (https://bp.eosgo.io/explore/). About 140 nodes are registered in the Jungle testnet (http://dev.cryptolions.io/), half of them are more or less in working state. This network is the largest and at the moment can be considered the main one. EOS developers participate in the Jungle community, although we don’t know about official support. Also, there is the Ghostbusters network, which reach about 40 BPs.

MixBytes is an active EOS BP candidate and participates in the Jungle testnet. We will try to keep you informed of development news that will be in the coming weeks. We will be glad to answer questions in the Telegram chat https://t.me/MixBytesEOSBP.

Yuri Vasilchikov, Co-founder & CEO MixBytes