Rounds
A round is the protocol’s unit of accounting. Each round, the protocol:- elects the active set,
- updates inflation state,
- lets active orchestrators mint that round’s rewards,
- snapshots bonded stake for governance.
The active set
Only the top orchestrators by total bonded stake (self-stake + delegated stake) are in the active set for a given round. Only active-set members:- receive LPT inflation rewards, and
- receive jobs from gateways.
Livepeer’s public product surfaces describe the active set as 100 orchestrators. The size is
governance-controlled — if you need an operationally exact value, read
numActiveTranscoders()
on-chain. See Protocol parameters.The reward() call
Every active orchestrator must submit reward() on-chain once per round. That call is what
causes the protocol to mint and account for the round’s inflationary LPT for that orchestrator’s
pool — which is then split between the orchestrator and its delegators.
If the call is missed:
- no inflation is minted for that pool for that round,
- the missed round is never backfilled,
- every delegator in that pool permanently misses that round’s inflation.
How stake is accounted
When a delegator bonds to an orchestrator, the orchestrator’s effective stake grows by that amount. That total is what determines active-set ranking and the size of the orchestrator’s reward pool. Your tokens remain yours; only your stake weight is attributed to the operator you chose. The protocol tracks earnings through cumulative accounting rather than rewriting every delegator’s balance each round. You realize accrued earnings by callingclaimEarnings(), which also runs
automatically when you bond more, unbond, rebond, or redelegate.
Where demand comes from
Everything above is the supply side. The work itself comes from applications — real-time AI video products, streaming platforms, and other services that need video transcoded or AI models run. Applications don’t talk to orchestrators directly: they integrate with a gateway, which aggregates their jobs, selects orchestrators (by capability, price, latency, performance, and stake), and pays for the work in ETH. From an orchestrator’s seat, gateways are the demand.Want to be on that side of the marketplace — sending jobs instead of serving them? A developer
platform and a Build section of these docs are on the way; until then, ask in the
Livepeer Discord.
The life of a job
This is what happens when a gateway sends a single job to an orchestrator:Job arrives
The gateway sends a video segment or AI request with an attached probabilistic micropayment ticket.
Ticket verified
The orchestrator checks the ticket is valid — correct signer, sufficient face value, expected range.
Routed to a pipeline
The job goes to the video pipeline (transcoder) or AI pipeline (AI runner) based on its type.
Executed
The worker transcodes the segment to all requested profiles, or runs inference against the loaded model.
Payment accumulates
The ticket is stored. Each ticket has a probability of being a “winning” ticket.
The protocol contracts
Orchestrators interact with four contracts; gateways touch only two of them. This protocol depth is what distinguishes the orchestrator role.| Contract | Role |
|---|---|
BondingManager | Staking, delegation, reward/fee cuts, reward distribution |
RoundsManager | Tracks rounds; gates the once-per-round reward call |
TicketBroker | Redeems winning payment tickets for ETH |
ServiceRegistry | Stores each orchestrator’s service URI for discovery |
Next
Economics
Turn these mechanics into a revenue model.
Protocol parameters
The live, governance-controlled values referenced above.