Community Fund DAO Submission Requirement Guidelines

Project Proposals
#21

Why is everybody using telegram?
What is so special about this?

If you have a channel full of thousands of people i suppose you can’t get anything out of that noise.
I thing forum is better place to discuss projects.
Is slow paced and the posts can be followed as they are not lost in noise.

Also reaching people directly trough PM over the forum regarding projects may look like spam :wink:

Maybe there could be a website (part of main nem.io) where those projects could be presented publicly also containing all the guidelines fro the community fund submission.
I was thinking something about this: https://icobench.com/
but for nem projects.
This is just idea don’t know it this can improve state of the things.

Also limiting the number of projects that are voted within some period of time for example
2 projects in same time in 2 weeks and the other projects wait for voting in queue until the voting for the previous 2 has not ended.
The numbers here are for example so this can be discussed.

Another few questions regarding this fund:

  1. Are the projects required to sign some contract to receive the funding?
    I mean the projects could request funding and receive funding
    on basis that they will use XEM (NEM platform) for the implementation of their business but
    I was wondering what would happen if they after receiving funding dump the recevied xem and
    switch to use other technology?
    Are there any sanctions for this behaviour?
    What is the guarantee for this not to happen?

  2. The funds in the community fund are limited and we know
    that not all projects that will get funded will succeed.
    Would it be good for the successful projects to somehow refill this fund in some extended period of time it they are successful so that the funding of new projects can continue?
    What are your thought about this?

Thanks.

2 Likes
#22

@Trikar_Blockchain thank you for the discussion,

Late last year we discussed with @r3n3 lowering the POI to enable greater decision making capability as the NEM community grows - more users, higher number of people to execute 3%POI

Is there any way that there can be a more seamless way to vote across the community? e.g. a push notification to all NEMbers as the community fund is essentially owned by EVERYONE who holds XEM’s therefore EVERYONE should have the right to vote and also the right to understand what is going on - many might not even know that the community fund exists as part of the NEM ecosystem.

Cheers,
Alex

1 Like
#23

Hey @alexmccall and NEM Community,

IMHO the % threshold of POI should be lowered to e.g. 1.5%.

In the past, XEM tokens were “not so distributed” amongst the community. Meaning that they were in the hands of the close followers and supporters of the NEM project. Nowadays, more and more people hold XEM who are not actively following this forum nor the Telegram chat groups. That makes it much harder to reach XEM holders and to achieve their yay, and then 3% POI score.
Additionally, the Community Funding Programme of NEM has XEM tokens available for the programme, and due to risen USD/XEM value the XEMs can last to support several (many!) projects when reasonable USD amounts are requested.
Thus, I support the idea to lower the POI % score required from 3% to e.g. 1.5% - in order to have more NEM-supported and NEM-supporting projects emerging. The sooner the better :wink:

Something like
min. 1.0% POI for < US$ 100k
min. 1.5% POI for < US$ 200k
min. 2.0% POI for < US$ 300k
min. 2.5% POI for < US$ 400k
min. 3.0% POI for more
could be a way to do it, too. Just thinking out loud - to spur brainstorming and discussion.

4 Likes
#24

I really like your scaled POI there @r3n3 I feel that would be a significant value add across the spectrum of proposals,

Cheers,
Alex

2 Likes
#25

The reason why support is not gathered is because Proposer are in a hurry to propose.
The community needs time to understand slowly.

Proposer should do various advertising activities for at least one month.
In many languages.

Otherwise 3% not to gather.

3 Likes
#26

I agree with you that some proposers literally have to run against time to get vote in 10 days. 5 days for feedback is not enough.

1 Like
#27

Hi Everyone,

And welcome to all the new projects that are looking into NEM. We are really excited about all the interest in NEM and the Community Fund.

It has been more than three years since the Core team first drafted the guidelines and it is way over due for an update.

We have formed a new group of community members and are getting feedback from them and rewriting and updating the guidelines.

The spirit of the fund is staying the same, so all is good there. For those thinking about applying and wanting more information, please reach out in the Red channel for more info from a member.

4 Likes
#28

Who will pay community funds?
Who manages the secret key?

Even if we are asked to vote in an ambiguous state everyone is in trouble.
I will prompt you for a quick update.

#29

I think the great answer is Rene’s proposal, but maybe with some different thresholds.

Also, I would like to point out using official NEM channels to influence the voting. NEM social media (twitter, facebook and Inside NEM should be neutral towards the voting, at least I think so. And NEM team members should be neutral as well. I was opposing NEM team members taking part in any type of projects, but I see some positives in terms of some huge branded ICOs. In community fund proposal, any support, that may provide bias opinion should be forbidden.

I would like to see the feedback period that last minimum 14 days, give the community, which is scattered and decentralized more time to grasp the idea. But at the same time assure that final assessment by the foundation’s committee (centralized organ) is done in less than X days.

2 Likes
#30

Currently, several community fund proposals make community voting meaningless due to XEM’s Price down.
There is no incentive for voting.Nevertheless, Nember voted.

I can not promote the vote to the community any more.
We will require all proposals to be suspended until new guidelines are established.

#31

New guidelines are ready. Soon will be update here and into the website.

2 Likes
#32

New guidelines can be found here https://nem.io/CommunityFundDao.pdf

3 Likes
Nem proposal for new member from Angola-Africa
#33

Thanks for the update.
I have read the document and I have few questions regarding 2 points.

Point 1:
a) Who are and how many are the members of the COMMUNITY FUND COMMITTEE?
b) Is there a fixed number of persons in the COMMUNITY FUND COMMITTEE?
c) should the names of this persons be publicly available and if they are where can we see hem?

Point 2: regarding page 3/9 (Active Member)
In case there is a new company that did not have any ties to NEM or any NEM related tech whatsoever and wants to apply to integrate NEM in their project it will need a partner in the NEM community right?
a) What is the criteria to be a partner I mean a valid NEM community member?
b) What and who defines a valid NEM community member?
c) Would I be a valid community member through which a project could be placed ?

Thanks.

3 Likes
#34

Could we have a visual example of this. Some projects who are planning to launch an ICO after the proposal are asking about it.
the company shall pay back
the community fund in proportion to the amount they received set
to the fiat rates at the time of the payouts, paid back in the ICO
tokens fiat approximation. These payments shall not exceed 2.5%
of the total token supply or the fiat equivalent received from the
community fund.
The main question is, Have the ICO return to NEM the funds in XEM, Tokens or Fiat?

#35

the questions got a point, need more explanation

#36

What is a supported project?
We do not know.
Progress of the project that received assistance.
We do not know.
How much did you pay for the project?
We do not know.
Are you getting any results?
We do not know.

We need a moderator to organize community proposals.
Do not you need a community proposal to organize that moderator first?

2 Likes
#37

There is a CF committee who is following the milestones from the Community proposal who has already the YES vote from the community.

#38

What do you mean?
After the vote is completed, will we not participate?
Are you not monitoring the progress?

If so, I will write a great plan and submit a proposal.
I will write a magnificent plan that I can not realize.

And I get a lot of XEM.

1 Like
#39

Who is we? You and me? Nem community? Nem foundation? Did you read the DAO guidelines? As I said there is a committe who is monitoring the milestones. No milestones No Xem. The community can vote and provide feedback and ideas to the projects and that’s all. If you want to ask for changing the DAO guidelines and give more power to the community, be my guest but I can say to you we are helping a lot to the community projects and I dont think community will be able to assist these projects as well as some of us in nem are doing. I wish nem community will me more implicate ( like you and Japanese community are doing very well)

#40

OK.
Please list all the projects you have been supported.
Please tell me how much you paid for each project.
Please tell me how far each project has achieved milestone.
Who makes payment decisions and who holds the secret key?
Who is CF committee? Nem foundation?

Silver coin, Crypto Apex, others are also unknown.
If I do not need to know, there is no need to vote.

To evaluate information disclosure and soundness.
Is there anything wrong?

2 Likes