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Are you a block producer on EOS?
Have you been invited to join the CTC Rewards Proxy for your value-adding excellence on EOS?
If so, this is how it works!
When the CTC Rewards Proxy votes for your BP, your pay will increase with each token voted to you.
As a BP, you keep 18% of the increased profit (profit increase caused by the proxy's votes). 2% goes to GenerEOS for maintaining the back-end daily auto-payment service (their hardware, their software and their maintenance). 80% of the profit increase will go back to the voters, from you, in daily payouts.
This is a win-win for your BP and for the voters. Your BP increases its rank and its pay, and voters get a reward for helping you. This will gain momentum as it also brings in new voters who are taking part in voting for the very first time due to the new incentivization to do so.
The daily cost to you as a BP would increase or decrease as the number of votes from the rewards proxy increases or decreases.
Each voter's pay would be proportional to the votes they represent.
As a block producer, you will always make a higher profit than you pay out.
Rules for Joining
This is an invite-only proxy. As every BP wants to be voted for, and due to the high volume of requests to be voted for, there is one rule for this proxy: You may not ask to be voted for. Violations of this may result in a ban.
What a BP can do (and is encouraged to do) is to SHARE its positive contributions that have made EOS better. This is part of the metrics on which BPs are judged. Sharing your contributions is your best way to be noticed as a BP.
IMPORTANT: All of your BP’s contributions to making EOS better should be summarized on one page, in English, so that I can review it in less than 2 minutes. Write 1-5 sentences per contribution, maximum.
Your BP’s contributions to making EOS better should be shared with the East and with the West, translated into proper languages for each region. This is the responsibility of your BP. Your BP node is YOUR company.
I am one man who volunteers his time. There are dozens upon dozens of BPs & it is extremely time consuming to talk with all BPs. I will continue to reach outside the West to contact other regions as much as I am able. I have already begun to do this. However, it is each BP's responsibility to ensure that language speakers outside his own area know of his accomplishments. If people are unaware of a BP's contributions, it is that BP who failed to make them known widely enough, and in the proper language(s). Remember: This is your business.
TL;DR: No asking or begging to be voted for. Instead, SHARE YOUR ACCOMPLISHMENTS, in all languages, so everyone may know what positive work you've done for EOS.
Instructions to Join CTC Reward Proxy
Once you've been invited (it's invite-only to value-adding BPs to ensure quality), all you need to do is:
✦ 1. Register your BP node with the smart contract.
✦ 2. Fund your account, using the smart contract that GenerEOS created. Instructions here: https://medium.com/@generEOS/voter-rewards-ctc-rewards-proxy-smart-contract-e66a3a721b79
✦ 3. Inform Colin that you have signed up and funded your account with the GenerEOS smart contract.
✦️ 4. Once Colin sees your message, the CTC Rewards Proxy will shift its votes to your BP and you climb up the ranks! You're set! Keep your balance topped off
As long as you continue to keep your account funded with the GenerEOS smart contract, the CTC Rewards Proxy will continue to vote for you. If you cease making payments you may be temporarily banned from future participation in the proxy. Please inform Colin of any changes before they occur, so there is time to make any necessary changes within the proxy.
Unlike other reward proxies, do not send any EOS tokens to the CTC Rewards Proxy itself (unless you are making a donation). The CTC Rewards Proxy does not act as a middle-man for any funds. Therefore there is no chance of mismanagement of funds by the proxy. You send EOS to the GenerEOS rewards smart contract and payments will be debited and sent to users from there. This allows the individual voters full transparency to check to see that they have received their daily payment. This also serves as a checks-and-balances system whereby the user can inform the proxy operator of any BP's non-compliance.
Thank you for continuing to build value on EOS!
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