ambcrypto.com
Many in the community have argued about the Worker Proposal System [WPS]. The EOS system creates inflation of 5% every year, out of which 1% is dedicated to Block Producers and the remaining 4% is directed to the Worker Proposal Fund [WPF] which is intended to be a “source of funding for community-driven ideas” that would develop the space. Anyone contributing to the community using WPS was paid incentives for their services using WPF.
WPS or the Worker Proposal System has many advantages and downsides and hence, it has advocates as well as opponents. EOS New York had this to say,
“Accountability, centralization, honey pot, fund misuse or abuse… these are words that were used to reject first Worker Proposal attempt. While it may not have been perfect, the conversation died there. The result is that some talent is submitting grants to build elsewhere.”
Igniting a fresh debate, EOS New York recalled the first attempt at a Worker Proposal called CDF, which was rejected by the EOS community. The Twitter handle posted a series of tweets which called for a poll in a bid to seek answers from the community on whether a lack of Worker Proposal would induce a potential brain drain of talent in the EOS ecosystem. At press time, 68% of the results indicated affirmative and the rest 32% voted No.
The main advantage of WPS is to incentivize innovation by enabling ideas to pour in that would help the community grow. This would not only help develop the ecosystem, but also boosts the morale of everyone involved in it. “Everyone’s involvement” would also keep the network decentralized.
However, what posed as the threat to the otherwise harmless incentive program was proposals being created by whales with no good intention for the community. The Worker Proposal would also potentially attract a centralized group which could “hurt the network’s reputation.”