A so called worker proposal on the BitShares Blockchain is a means to get rewarded for contributing to the BitShares ecosystem realized in a decentralized and trustless way on the blockchain. Once a worker proposal is approved by the BTS holders, funds are obtained in BTS through an algorithm from the working budget of the BitShares DAC.
An overview of all current worker proposals on the BitShares Blockchain is available here.
The BitShares Blockchain in its technical implementation only knows one type of worker proposal. It contains a name, reward receiving account, daily BTS rate and a link to provide insight into the purpose of the worker proposal. Anyone can create a worker proposal on-chain, and afterwards all BTS token holders can vote on it. If it passes the threshold given by the refund workers and receives at least part of the asked daily BTS, it is considered active.
The BitShares community informally split worker proposal into two types, reward and opinion worker proposals. The former is meant to provide BTS for a kind of activity as defined by the worker proposal, the latter is meant to make strategic decisions and to agree on the consensus changing development and introducing new features of the BitShares core (BitShares Improvement Proposals).
There are facilitating possibilities with an external company to provide participants of a Worker Proposal with an Escrow service.
In the following section more details are presented into an exemplary escrow services. This may not be an exhaustive description, yet is an attempt to outline best practices. The BitShares Blockchain Foundation itself does not offer escrow services.
For worker proposals, an escrow service offers the following value propositions:
Certainly using escrow services introduces additional overhead and requires both trust from the BTS token holders and the freelancer.
The purpose of such a service is to provide security and transparency to both parties, the BitShares DAC, as well as the freelancer that performs the work in expectation of receiving BTS. Setting up a worker proposal with an Escrow service normally sticks to the following flow:
Rewards worker proposals may be divided into two sub-types, namely escrow and budget workers.
escrow workers: Freelancers around the world, who want to work for the BitShares DAC through an escrow setup which carefully vets the individual offers, are organized and set up on the blockchain and ensure the maximum of code quality for the BTS token holders.
budget workers: These workers serve as a budget that can be tapped whenever it is needed for purposes defined in the individual budget workers. This serves as working budget that is more flexible then static escrow workers in the way that it allows to reward many different people for their support out of a single purpose-specific fund.
Remark 1 A reward on a worker can only send BTS that have been obtained through the corresponding worker being active. The freelancer himself monitors at all times the status of the worker and available budget.
Remark 2 If not otherwise agreed and mentioned in the specific worker proposal, usually an 5% escrow fee is applied to a reward on workers. This fee is applicable for each outgoing amount and needs to be accounted for publicly for each worker.
Remark 3 An Escrow service is always separately agreed with either a legal entity or an individual that has been identified with their real-world identity. Usually there is a two months deadline after the handover of the delivery (e.g. when a sprint or milestone has been completed). After this deadline has passed, deliveries will be considered most welcome volunteer contribution.
The purpose of escrow workers is to ensure proper rewarding for the work provided over a period of time and absorb volatility of the BTS token during that time. Both the freelancer and the BitShares DAC may experience a reduced risk during an escrowed worker proposal, especially in longer agreements.
Budget workers serve as workers that might provide a solution for specific purposes where escrow workers do not fit, such as translation work, bug fixing or bounties. The rules could be as follows:
BSIP is the abbreviation for BitShares Improvement Proposal and is describes the procedure of improving the BitShares protocol. Every major change to the behavior of the BitShares Blockchain requires approval by BTS holders by means of approval voting. This is implemented by means of a BSIP worker.
Escrow arrangements should be open and transparent on-line where it concerns dealings with BTS and the BitShares DAC. All its accounting should be visible for all anonymous parties to see on-line.
Escrow organisations need to be compliant. Beneficiaries of any of these models will be asked to authenticate themselves with their real-world identity. Due to the nature of being a public decentralized blockchain, all reports for reward request must be published on line. An approval procedure needs to be in place.