This is NOT to discuss this prop as it specifically related to the Cosmos Hub & it’s community pool, that will be a separate post. For now we want to focus on and get feedback for the general gameplan & ecosystem wide ask.
You may find the draft with original formatting on @TendermintTimmy’s twitter or on GDocs, found here: Community Pool Request Prop - Google Docs
Below is a rough template for a prop to be placed on each chain listed. At that point, [chain name] and [requested amount] will be replaced with relevant details for each chain.
These are all individual props, to be taken as is on a 1:1 basis with 50% of the ask from each chain being reserved to incentivize content specific to that chain and the projects/communities building on it, with the remaining 50% allocated to general ICI development and upkeep.
Built by Spark IBC, Interchain Info (ICI) is a truly multi-chain & chain-agnostic hub for information and tooling to make navigating the rapidly growing Interchain easier for both new and old users alike. At Spark IBC, we believe that, currently, “Cosmos” and the greater Interchain are extremely fragmented, as communities, educational resources, NFT collections, Dapps and tools each reside in their own remote corners of the ecosystem.
ICI aims to change this by taking the first step toward building the unified, multi-chain future that the community has been waiting for, and that we believe is paramount to Cosmos gaining mass adoption in the next market cycle. We are currently running an ICI funding campaign on the Spark IBC platform, where you can read more details about ICI itself.
INFO ON ICI → https://sparkibc.zone
We are avoiding VCs and private investors in this endeavor, because ICI is only a valuable resource if it remains unbiased and beholden to no one but the community that uses it. Therefore, all ICI costs so far have come out of our own pockets, and going forwards, we’re raising funds entirely through grants and donations from users and community pools.
We request 1% of community pool funds (capped at $20,000) from a number of chains, including [chain name], to contribute to The ICI Campaign on Spark IBC.
- 50% of issued funds will be donated directly to ICI for general development, hosting and maintenance.
- The remaining 50% will be used as incentives for community members to create and submit content specific to [chain name] on our platform.
- For [chain name], this amounts to [requested amount].
Each network that approves funding will be rewarded with Spark Points based on their full donation amount and a customized entry on our leaderboard labeled “[chain name] Community.” Spark Points are used within the Spark IBC system to recognize users for their contributions to the Interchain.
One Spark Point is representative of one dollar (or USDC, or, in this case, token equivalent) donated, and is tracked through the soulbound $SPARK token on Juno Network. For these donations, Spark IBC will set up a wallet on Juno, label it accordingly on our leaderboard, and mint $SPARK equivalent to the USD value of the donated amount into it, measured by the price at the time of distribution. Slippage and fees for conversion will not be taken into account, as that’s beyond the communities control.
One significant benefit of multi-chain projects is the unique ability to distribute our funding requests across different sources to minimize sell pressure and the burden on any single community pool/token. This sort of effort is something that Spark IBC plans to pioneer and offer as a potential service to any who use the Spark IBC platform for fundraising in future.
Similar funding requests will also be submitted to the following Cosmos chains:
- Cosmos Hub
- Fetch AI
Note: While just shy of 250k may sound like an exorbitant ask, please keep in mind that would only be in the case of every single proposal passing, which fairly unlikely. This is why we’re casting a wide net.
As stated, 50% of the requested [requested amount] will be used exclusively to incentivize content specific to [chain name] and its ecosystem on the Index and Resource hub. This allows community members and content creators the ability to earn a little income while contributing something beneficial to the entire interchain. It also ensures that a portion of the allotted funding amount returns to the community in a very direct way.
Note: the Spark & ICI Team reserve the right to deny payment, both pre/post-production, to anyone on the basis of content quality or attempts to manipulate this proposed system (i.e. needlessly long articles, videos etc.); this is not a “trustless” incentive program. At this time, we will only accept English submissions meeting basic literary standards; however, we may expand this program to include other languages in the future and/or add a translation tier to the list of incentives below (we are open to feedback on these details):
*$0.05/word (written content) and $5.00/min. (video content) are below industry standards, but the crux of this project is to further incentivize creators who are already producing original content, while refining and updating existing material that needs to constantly be updated. In its entirety, this project will both promote new material and provide house-keeping for fresh, up-to-date information in order to attract new ecosystem investors and users.
When do we intend to submit these proposals?
- After a few days of discussion in its current, generalized form, we will put chain specific props on the relevant forums for each of the chains listed above. Again, after a few days of discussion we will then move to put the proposals on chain. At that point, the amount of props live at any one time will only be limited by ability to meet the deposit requirements for each chain. If you are interested in or able to help with this, please get in touch with us.
How will payment be requested/distributed?
- Will will be asking for the requested amount, up to 20k, as a single lump sum, which we will then handle splitting 50/50.
Will the incentives program be transparent?
- Of course! We will keep records of payouts and the work done to receive them for the community to review. This also serves to provide a metric for results, and should help communities gauge whether a continuation of this program later down the road would be something of interest to them or not.
How long do you intend the incentive programs to last?
- Due to the drastically different ask amounts amongst various chains, as well as the amount of content relevant to them, some chains’ incentives may dry up much quicker than others. We believe that with the program we’ve outlined above, regardless of the duration, the general amount of work achieved per dollar spent should be similar.
What happens if a chain does not pass the proposal, are they to be treated any differently?
- Absolutely not. All chains and projects in the Cosmos are equal in our eyes, and no community will be penalized for failing to support our effort, except by missing out on the incentives program and, of course, contributing to something crucially important for the entire Interchain.
Original found here: http s://t.ly/dKw8 (remove space between “p” and “s”. These forums don’t allow links.)
REMINDER: This is NOT to discuss this prop as it specifically related to the Cosmos Hub & it’s community pool, that will be a separate post. For now we want to focus on and get feedback for the general, ecosystem wide ask.