Livepeer

Gateways bring jobs; orchestrators bring compute. LPT is bonded behind an orchestrator, helping decide which operators enter the active set and how economic and governance weight is distributed. Customers do not spend LPT for a guaranteed transcode.

Gateways instead fund ETH and send probabilistic tickets for work. An orchestrator may execute video or AI tasks itself or route them onward. A token balance therefore says little about current capacity, latency, models or demand.

LPT first lived on Ethereum at 0x58b6A8A3302369DAEc383334672404Ee733aB239. LIP-73 moved active state to Arbitrum, where LPT is 0x289ba1701C2F088cf0faf8B3705246331cB8A839; L1 operations were paused while bridge machinery remained.

Stake, rounds, provider selection and voting now need the Arbitrum system. A direct 2026-09-05 call returned 37,119,666.627341025280580758 LPT, a changing inventory rather than a maximum.

Minter compares the bonded share with a target bonding rate each round. Inflation rises below the target and falls above it by inflationChange, so LPT has no preset terminal supply.

New LPT rewards and ETH work fees come from different sources. After the treasury contribution, rewardCut sets the operator’s retained commission on LPT rewards, with the remainder distributed by bonded stake; feeShare instead sets the portion of work fees allocated to delegators, with the operator retaining the rest. An operator’s own bonded stake can also participate in the stake-based distribution. Neither stream is promised by merely holding LPT.

A delegator selects an orchestrator's terms and operating record. The operator must remain active and call reward; commissions, missed calls, work volume and parameters change outcomes. Unbonding also waits in rounds.

Displayed yield is therefore an estimate built from moving parts. Contracts define accounting, but cannot guarantee uptime, future fees, honest promotion or fiat value.

Controller 0xD8E8328501E9645d16Cf49539efC04f734606ee4 was unpaused and owned by Governor 0xD9dEd6f9959176F0A04dcf88a0d2306178A736a6 on 2026-09-05; Governor owner() was 0x04f53A0Bb244F015Cc97731570Bed26f0229dA05. This chain can stage upgrades and alter targets or parameters.

The LIP-89 treasury is another structure: BondingVotes checkpoints stake, delegators can override an orchestrator's vote for their portion, and LIP-92 funds proposals from a configurable reward share. Calling both simply DAO governance hides who can change what.

Livepeer Inc. and Studio provide software and services; independent orchestrators supply compute; the Foundation proposal describes a Cayman foundation and special-purpose entities. Their legal roles overlap less than their branding.

Ordinary LPT does not confer shares, title to GPUs or streams, redemption, fixed income or a claim on Studio. It supports transfer, bonding, reward accounting and recognized voting weight. Demand, concentration, operator identity and enforcement remain separate evidence questions.