Announcing the emergence of EOS Labs, an independent new entity proposed by longtime community leader Huaqiang Wen. Designed as a web3 incubator and builder for the EOS ecosystem, EOS Labs represents a new stage in EOS Network evolution. EOS Labs is poised to harmonize with the crucial roles already established by both the EOS Network Foundation (ENF) and EOS Network Ventures (ENV). In recognition of its potential, the ENF has pledged to allocate a quarter of its operational budget to assist EOS Labs, championing its vision and advocating for its successful integration into the EOS ecosystem.
EOS Labs in Focus
EOS Labs’ mission is to connect web3 companies with crucial resources, insights, and infrastructure, strengthening their prospects for success and building a more prosperous EOS ecosystem. Still in its formative stages, EOS Labs aims to attract professional talent from a range of backgrounds, including investment institutions, centralized exchanges (CEX), and blockchain media. These individuals will be responsible for investment research, business development (BD), and user growth.
EOS Labs Is Both a Web3 Incubator and Builder for The EOS Ecosystem
- As a web3 incubator, Labs aims to offer financing and web3 infrastructure to assist developers in achieving rapid growth.
- As a web3 builder, Labs’ team will focus on the development and growth of web3 products and tools while collaborating with partners to cultivate a sustainable ecosystem.
Unique Roles, Shared Potential
The establishment of EOS Labs marks a significant step towards increased decentralization of the EOS Network. By introducing EOS Labs as a third independent entity alongside ENV and ENF, the network is diversifying its capabilities and ensuring that essential tasks are managed under separate and specialized organizations with distinct leadership.
This specialization is emblematic of a broader network strategy where entities can play distinct yet interwoven roles: While EOS Labs delves into the realms of incubation and research, supporting projects with clear business trajectory, the ENV by contrast is geared towards investment in projects that are ready to efficiently utilize VC funds. For its part, the not for profit ENF is naturally well situated to concentrate on the development and maintenance of critical network infrastructure, public goods, and communications.
Historically, the groundwork for EOS Labs’ proposed financial autonomy traces back to February 7th, 2023. On this date, EOS Network BPs ratified an MSIG proposed by EOS Asia, leading to the addition of a significant new smart contract to the eosio.saving account. Originally, the default parameter is set to channel all funding into the eosio.grants account, overseen by the EOS Network Foundation, but the addition of this new contract provides a mechanism for funds to be systematically directed towards various other accounts. This change has enabled the possibility for multiple entities to receive continuous funding directly from EOS Network inflation, which currently stands at 2% overall.
For a detailed exposition on the MSIG’s evolution from its inception on February 7th, you may explore the article titled Towards A More Robust and Autonomous EOS Ecosystem
