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
- 3.Awarding pools with EGLs when they mine blocks following the vote, adjusted according to how closely they match
- 4.Creating an ETH-EGL market, to ensure pools are immediately incentivized to follow the EGL vote.