CUDOS -THE GLOBAL COMPUTE NETWORK
Powering Smart Contracts, DeFi and the Internet
Founded in 2017 by serial tech entrepreneur Matt Hawkins, Cudo’s highly experienced team of entrepreneurs, engineers, data scientists and strategists, are joined by world class advisors including the Ex-President of Sony Playstation, Chris Deering and the Director of Blockchain at AMD, Jörg Roskowetz with the mission to:
‘Make Better Use of the World’s Computing Power.’
Cudo is already generating revenue with users in over 145 countries. This network, comprising of tens of thousands of blockchainers, gamers and service providers, will become early providers to cloud consumers globally. The CUDOS network links the blockchain world to the extensive Cudo platform through a smart contract governed layer 2 oracle, reducing the cost and increasing the performance for DeFi and other popular blockchain use cases.
What is a governance token?
One of the main attractive points of blockchains is decentralisation. By not having a central trusted entity, blockchains are not controlled by a single person or company, but by the community developing and sustaining it. As such, all projects built on top of a blockchain need to aim for that same level of decentralisation at some point, as otherwise this key property would be lost.
Governance tokens are a solution for the platforms built on top of blockchains to avoid single points of trust. Similar to PoS, governance tokens allow all stakeholders to participate in the network, and in the decision making processes that alter the behaviour and the attributes of the network.
One way to think about this is in terms of democracy: all token holders are eligible to vote on proposals that any of them push forward in the community. That way, there is no need for a central entity that controls the network, as the community itself rules it democratically
CUDOS validator nodes (CVNs) will have control over the governance of the CUDOS network. Trust scores will be used to calculate a weighted average score, which will determine the weight of each node in the decision making process. By limiting the total amount of CUDOS tokens staked and the delegated staking that each CVN can receive, as well as introducing weighted probability algorithms to distribute the selection of nodes when developers do not explicitly choose them, the network is expected to have an even distribution of stakes among a sufficiently large number of nodes.
Each CVN will be free to choose how to involve users delegating their stake to them. For example, they could choose to regularly propose polls about the most discussed topics within its delegators, to then propose changes on the network based on the outcomes. In order to ensure a smooth start of the platform and to prevent abuse, Cudo will control the governance of the network in the initial alpha stages. When validators have earned a high enough score and the platform has reached enough maturity and usage, governance will be fully handled by the nodes.
What is the treasury?
The CUDOS treasury is a pot of tokens that are used to incentivise the network and help it grow. The treasury has two main sources of income: 20% of the CUDOS paid for transactions requested through the CUDOS smart contracts, and tokens that get slashed from participants due to malicious behaviour.
These tokens will be used mainly for:
- Staking rewards
- Development foundation
- Development grants
- Shared with developers of marketplace templates
This will help incentivise developers and the whole ecosystem. For instance, developers will be rewarded for creating apps for the CUDOS marketplace, for the CUDOS smart contracts to use.
Similarly, treasury funds will also be used to give developers and participants grants, in order to enable new functionality in the network, to improve it, to propose changes, etc.