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Kredits (XKR)

COMMUNITY INITIATIVE BRINGING NEW LIFE TO KWAGSH

Community fund

 
Posts: 81
Joined: 06 Sep 2018 05:12

Community fund

Post by Ough » 12 Sep 2018 19:12

Although it is too early to know for sure, a post-swap situation might arise whereby after 90 days we end up with a number of unclaimed coins.

In a separate draft on possible procedures for the swap, this possibility was addressed with the following suggestion:
Coins which are not claimed within the swap period shall enter the community fund to be used for server costs and other infrastructure required to maintain the network as well as for mutually agreed-upon purposes to strengthen and grow the value of the currency, such as exchange listing fees, development, public awareness and community outreach, usage incentives, etc.
Breaking this down in more detail:

  • Server costs and other infrastructure required to maintain the network: Two or more seed nodes as well as a website, a block explorer and possibly also an official pool to make up for the pool we lost when its original developer abandoned the coin.

  • Exchange listing fees: Required for the better exchanges.

  • Development: Funding for outside developers, third party wallets, team milestones.

  • Public awareness and community outreach: Funds for translation bounties, invite campaigns, retweets, youtube videos, blogposts, referrals and affiliate programs, etc

  • Usage incentives: Coin faucets, preloaded wallets, SatoshiDice-style sites with free coins for new signups.
In addition to these things, any other great proposals from the community should of course also be submitted and considered.

All expenditures should be governed by the purpose of strengthening and growing the value of the currency and should be mutually agreed-upon by a group of community volunteers drawn from among the stakeholders of the coin, such as early miners and hodlers from among the current 22 members of the community group or the even larger number of supporters signed up for the coin's Discord and Telegram channels.

Since the number of unclaimed claims is not yet known (and may even turn out to be an inconsequential amount) we might also want to prepare for looking into better ways of funding this community fund. Some coins do this with a governance fee taken out of block rewards, but other suggestions and different ideas are also open for discussion.

 
Posts: 56
Joined: 06 Sep 2018 23:57

Re: Community fund

Post by Karsen » 17 Sep 2018 09:50

I would suggest opening a donation wallet in both BTC and LTC perhaps a few other pairs, and keeping all the adresses with view keys public so that people can see what's going on.

 
Posts: 81
Joined: 06 Sep 2018 05:12

Re: Community fund

Post by Ough » 17 Sep 2018 11:34

Karsen wrote:I would suggest opening a donation wallet in both BTC and LTC perhaps a few other pairs, and keeping all the adresses with view keys public so that people can see what's going on.
Absolutely agree. Transparency is essential for a community-driven project such as this, where all of us are volunteers. This is a non profit initiative and if any of us stand to benefit, it should come from increasing the usage of the coins we have been mining and then seeing their value in the market go up as a result.

In addition to publicly known accounts and view keys, I also support a known board of 3 or 4 community fund managers who reach their decisions by consensus. These decisions should be public as well, so that all of us in the broader community can have full transparency and see where the funds are being invested to promote and benefit the coin.

We might already begin thinking about who will volunteer for the fund's board. Anyone should be able to put his or her name forward as a candidate and the rest of the community can then vote on who takes part. If the board then rotates each year, so we get new names and fresh blood for coming up with new ways to take the coin to the moon, that would be even better.

 
Posts: 56
Joined: 06 Sep 2018 23:57

Re: Community fund

Post by Karsen » 20 Sep 2018 11:13

Completly Agree


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