Purpose: To manage the Staking and running of a Transcoder on the Livepeer network
A Transcoder node is running as part of the set of 25 Active transcoders on Livepeer's network, and has amassed a bonded stake of 71,690 LPT (approximately $578k at today's spot price for LPT).
The node is generating approximately 2 LPT ($16) every 20.8 hours / 5760 blocks in Ethereum's blockchain.
Development of the code for Phase 2 is in progress, to allow a DAO to approve / bond / unbond / withdraw tokens to / from nodes on Livepeer's network.
Livepeer Transcoder configuration, and distribution of funds generated from Inflationary Reward mechanics.