Key Functionality

The Eagle Project defines an ERC-20 token which allows its holders to vote on their desired value for Ethereum's Gas Limit (desiredEgl), and incentivizes pools to follow their collaborative decision.

The key functions of the EGL smart contract are:

1. Allowing EGL holders to vote on their desired gas limit.

2. Weekly tally, which gradually adjusts desiredEgl.

3. Awarding pools with EGLs when they mine blocks following the vote, adjusted according to how closely they match desiredEgl.

4. Creating an ETH-EGL market, to ensure pools are immediately incentivized to follow the EGL vote.

EGL EconomicsMedium