The eoracle Points Program

News Apr 11, 2024

Introduction to eoracle Points.

eoracle introduces the first stage of incentives; the eoracle Points Program. Designed to incentivize both operators and ETH delegators within the broad Ethereum and EigenLayer ecosystem. This initial release of the Points System is intended to be as simple and straightforward as possible, rewarding and aligning incentives for all who add value to the network through active and ongoing participation. We seek to value, recognize, and reward efforts made towards growing, securing, and decentralizing the eoracle network, maintaining our vision of community ownership.

The Motivation Behind eoracle Points.

At the heart of eoracle's vision is the creation of a credibly neutral marketplace for data and compute. With this vision, we recognize the necessity to grow and decentralize the supply side of that marketplace; the operators who maintain the eoracle chain and help fetch data from the outside world. The eoracle Points System is our strategic solution to attract, engage, and retain these essential contributors, effectively addressing the initial hurdle of having reliable operators who will help decentralize the chain from its inception.

How eoracle Points Work.

The mechanics of the eoracle Points System are designed to be transparent and straightforward in this foundational stage. Points are calculated as a measure of staking participation equal to the time-integrated amount staked in units of ETH x hours. Specifically, this is calculated based on Ethereum blocks, where approximately 300 blocks equate to 1 hour.

Points are awarded to both operators and ETH delegators, quantified by the duration and amount of ETH staked, with operator points derived from the total restake points associated with each operator. As an example, operator A with 100 restaked ETH will have 100 points granted and distributed according to their re-staked ETH amount every hour, plus an additional 3 points for the operator, totalling 103 points.

Calculating restaking points

Calculating operators points

eoracle points correlate to your individual contribution to the future of modular, cryptoeconomically secure connections between real-world data and the decentralized ecosystem.

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