PW:GOV#3 | Governance vote: Recycle bins & Data streams recording

Voting will start on August 25th at 11 am CET and will close on September 1st at 11 am CET.

UPDATE: The Governance vote is closed. Option A (“Yes, I support the PlanetWatch proposals to merge Tier 1 and Tier 2 recycle bins both for Type 1 and Type 2 sensors as well as to make all sensors’ data streams recordable for reward purposes every 15 minutes”) won with 90,88% of the votes.

Hello PlanetWatchers,

As introduced in our previous blog post, we are issuing a new governance vote that taps into the operation level of our network. 

The new proposal entails two different changes, meaning that you can either agree or disagree with both proposals at once.

What are the changes and why are we proposing them?

1. Tier 1 and 2 recycle bin merge

According to PlanetWatch’s White Paper, Type 1 and Type 2 sensors are entitled to different reward rates based on their location – higher rewards for densely populated areas (Tier 1) and lower rewards for less populated areas (Tier 2).

Because of the bigger incentive in Tier 1 pixels, more people have deployed sensors in these areas rather than in Tier 2 ones. As a consequence, the balance of Tier 2 recycle bins, both for Type 1 and Type 2 sensors, is very large (and keeps increasing). On the other hand, as you can see in the image below, the balance of the Type 1 – Tier 1 bin is decreasing fast.

This is the reason behind our proposal to merge Tier 1 and Tier 2 recycle bins both for Type 1 and Type 2 sensors. 

We are confident that merging tier bins into a single bin, for each type of outdoor sensor, will lead to efficient use of the reward budget and in particular ensure that Type 1 sensors will keep receiving max rewards for a longer period of time.

2. Data streams rewarding schedule optimization

Currently, data streams are recorded for reward purposes based on time slots that depend on the sensor type. For example, Type 1 streams are recorded every 15 minutes while Type 4 streams are recorded every 2 minutes.

Different time frames increase server load, decrease performance, and complicate operations. For this reason, we are proposing future data streams from all sensors are recorded for reward purposes every 15 minutes. This will speed up the network’s dataflow, let the reward engine payout in a more timely manner, and provide additional resources and capacities for future growth.

Please note:

• This time frame alignment will not affect – by any means – the overall quality of the data collected, nor the way data is displayed to the user. We will still collect data as often as needed, but the rewarding schedule will be simplified;

• Also, this change does not affect the maximum total daily rewards you can get for your streams. In fact, this change makes it easier for owners of Type 3 and Type 4 sensors to achieve full rewards, as there is a smaller chance of missing rewardable streams. This change will lead to modifications of tables in the White Paper as shown below.

How to vote

Please follow the steps below in order to vote.

Requirements to vote:

Hold a registered PlanetWatch account to which at least one sensor is connected;

Hold a preloaded wallet in the App, with at least 0.102 Algos available for voting operations (0.101 Algos are spent to initialize the special token used for the vote and 0.001 Algos are spent for the transaction delivering your vote). 

Note: it is mandatory to hold at least 0.1 Algos on deposit in your wallet for each asset you own.

Voting process:

• Request to participate in the vote via the App;

• Choose the wallet where you’ll receive the voting tokens;

• Vote for option A or option B (all your voting tokens will be sent to the specified address);

Voting options:

As mentioned above, since this governance vote groups two proposals, you can either disagree or agree with both at once.

Option A
(address: HRO2KOB6WH5SHHLGAEYCEFAL5CRLZ3RPELQJNZC3BWDZ5O35TFJYFGBJSM)
Yes, I support the PlanetWatch proposals to merge Tier 1 and Tier 2 recycle bins both for Type 1 and Type 2 sensors as well as to make all sensors’ data streams recordable for reward purposes every 15 minutes.

Option B
(address: SBMOMATMGVAAJGMDQOZM3CYH6KS7YZBTKGF4DJCUQLW622VUIMFRHVRY7Q)
No, I do not support the PlanetWatch proposal to merge Tier 1 and Tier 2 recycle bins both for Type 1 and Type 2 sensors as well as to make all sensors’ data streams recordable for reward purposes every 15 minutes.

Keep in mind that your voting power is expressed via the number of voting tokens that you will receive. This number depends on the aggregate reputation score for all sensors linked to your email address as of the 24th of August.

Voting will start on August 25th at 11 am CET and will close on September 1st at 11 am CET.

If Option A wins the governance vote, both proposals will go live until the end of the year.

Do not forget to submit your vote – this is a great opportunity to make yourself heard!