Livepeer Delta Protocol Deployed On Network A Step Towards Decentralisation
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Author: Adeola @ Contributor of PermaDAO
Reviewer: hrocksafdie @ Contributor of PermaDAO
The proposed upgrade to the Delta Protocol of Livepeer, a video infrastructure protocol, seeking to introduce public goods funding has been unanimously voted by stakeholders and deployed on the network; the platform believes the move marks an important moment in its journey to decentralisation.
Delta Protocol, which is an attempt by the Livepeer to decentralise the platform introduces on-chain treasury that will be funded through current protocol inflation. Livepeer said 10 percent of newly minted tokens of each round will be directed into the treasury.
The funding mechanism of the Livepeer treasury is tied to $LPT token inflation. Inflationary tokens split up among node operators and delegating token holders are generated each round in the Livepeer protocol. The treasury contribution percentage determined by the community and the percent of the inflationary tokens will be channeled into an on-chain treasury smart contract.
Livepeer On-chain treasury was conceived to provide a sustainable way to fund public goods. Livepeer said its tokeneconomic supply of $LPT will not be affected, instead, it will build up the treasury. It further stated that the community will govern the treasury.
Livepeer Delta represents a significant opportunity to further decentralize ecosystem growth with the support of supply-side network operators and demand-side video innovators,” the Network said.
Funds from Livepeer’s inflationary rewards over a period of time are channeled to the treasury where sub-entities can submit proposals for funding and holders of LPT, Livepeer’s native token would be able to make proposals and vote on how the funds are used.
“A protocol can only be credibly neutral and sustainable if there are many stakeholders building on and contributing to it, and there is a clear motivation for economically rational actors to maintain and shape it over time. Delta puts some important building blocks in place to enable this,” Livepeer stated.
The community could see the result of the impact of the protocol upgrade on its operation in a fourth quarter reporter. Third quarter report published by Messari shows Livepeer making a u-turn from decline in key metrics.
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