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Cyber Republic and E-Lab Launches Community-Governed Grant Fund For Developers
Cyber Republic, Elastos’ community DAO, and E-Lab have launched a Grant Fund of 100,000 ELA (Currently around 450,000 USD) to help fund projects looking to build with Elastos technologies. However, unlike the governance process that Cyber Republic currently uses, which includes 12 elected Council Members that vote on each proposal, the CR Grant Fund voting process will open up to the entire Elastos community, further decentralizing funding and creating an alternative process that could offer a more streamlined and efficient approach by giving the community the ability to independently govern. Most importantly, the Elastos decentralized identity solution (DID) will be at the heart of this new voting initiative, creating a one person one vote system, while proving the value and maturity of the Elastos tech stack.
How it works:
To put it simply, “Win the community, win funding.”
Projects looking for funding for a dApp or other development initiative must first create a CR suggestion on the Cyber Republic website followed by creating an E-Lab Proposal on https://e-lab.io/proposals/my-proposals. All projects can apply for up to 10K ELA. Once the E-Lab Proposal is approved by the E-Lab team, Elastos community members, with an active Elastos DID, can vote via the Elastos Essentials Super-Wallet App. In order to activate an account on E-Lab, both projects and users will be required to pass a KYC check via https://kyc-me.io/ to ensure the authenticity of the process.
The regular voting period will start on the 1st of each month and will last for 7 days, allowing qualified users to upvote (+1 to voting score) or downvote (-1 to voting score) each project. Only the one project with the highest voting score per voting period, at least 100 is required, will be eligible for grant. The team behind E-Lab will be analyzing each winning project and voter for things like fraud and other qualifying conditions. If a project wins the community vote for that month, the CR Council will release their funds automatically, without having a typical council vote themselves.
To view the full CR Proposal, refer to the original proposal
To view the rules, refer to the E-Lab documentation
- All development teams looking to apply for up to 10,000 ELA funding must use at least one Elastos core tech component in their plan. Once your proposal is ready
- The first community voting period is planned from March 1st to March 8th 2022 with the winner announced shortly after. Community voting will take place monthly for the next 12 months with 1 winner announced monthly (read official rules in https://docs.e-lab.io/introduction/rules
Discord Channel for developers: https://discord.gg/kDgNJ4DPHS
For Community Members:
- To vote for your favorite project,
Discord Channel for Community Voters: https://discord.gg/pnwm6equkt
For more information, please refer to E-Lab documentation: https://docs.e-lab.io/
- MButcho#1612 as a project lead
- Elastos Guardians as project administrators
- Benjamin Piette | Essentials#0348 as lead developer
- Sofiane#3981 as developer
- Frost ❄#4466 as designer
- Elastos Core teams as consultants