Community Fund DAO Submission Requirement Guidelines


#41

Support and promote is not the same. I never been paid for support or promote any project based in Nem. Personally I only vote the projects I like. (Travelbybit, Locationcore, Choice). If a project dont like I vote no).
However because I’m working with Nem part of my job is help the community projects to follow correctly guidelines and explain the use of nem technology.
Also I can encourage community to read, to provide feedback and vote proposals. But even with that, some community members are lazy and dont care. Only care about Xem price.

Travelbyt developed milestones. (https://www.travelbybit.com/single-post/Agnes-Water-1770 and more)

Who makes payment decisions and who holds the secret key?
CF Committe I guess.
Who is CF committee? Nem foundation?
I don’t know who is in the committee.


#42

Thanks. I like Travelbybit.
About Travelbybit I think that a good example of vote.

I will not think about it.
Even if management is done in a closed room.


#43

I request the CF Committee to decide the form of voting.
Formatting is necessary.

I do not know if it is a community fund vote.
There are many such opinions.


#44

Sorry only just seen this. Committees are made up of a mix of community members and foundation members, old and new, but mostly longer term members with a good history in nem. Those who make up the milestone review committees vary per project.

The people who make up the committees are not the same people who make up the cosignatories of the fund. Not technically by design but a huge benefit is that there is an extra level of checks once things move from milestone approval to payment. Cant disclose the signatories for security reasons of course.


#45

Stats/CF review could be released, sure, but there are some other more pressing things that need to be done. Processes are still a bit ‘ad hoc’ so we need to focus on getting things right across the board. I have a rough record of proposals but it was only really for my own use. Can try get a report done soon. All the information needed is public already from various sources be it forum or on-chain so if anyone wants to take the initiative to do this its very possible. Otherwise will be a while maybe before i can do one.

CryptoApex and silvercoin projects are both inactive/dead afaik.


#46

http://explorer.nemchina.com/#/s_account?account=NAFUNDDWQUHMIKPV2JUH2VNCYEAQX3O7QKHECZUV


#47

https://nem.io/community-fund/
We have been heard!!

"Tier 1: USD 0 - 40k
Grant proposals will be submitted directly to the Community Fund Committee and approved internally. Grants will require no equity or token allocation, repayment, or community vote.

Tier 2: USD 40k - 150k
If a total of at least 1% of the importance of the NEM blockchain votes in favor of the proposal and the vote passes with a 65% majority, then the vote is considered accepted by the community. Otherwise, it fails.

Tier 3: USD 150k - 800k
If a total of at least 2% of the importance of the NEM blockchain votes in favor of the proposal and the vote passes with a 65% majority, then the vote is considered accepted by the community. Otherwise, it fails.

Tier 4: USD 800k - 5 million
If a total of at least 3% of the importance of the NEM blockchain votes in favor of the proposal and the vote passes with a 65% majority, then the vote is considered accepted by the community."


#48

yes, you were :slight_smile: the guidelines you see on that site however are not the final version. there were updates that were missed. we are trying to push things more towards a traditional VC style fund (possibly even incorporation) much like the foundation but separate to it). This is important to ensure high quality proposals and projects and that we aren’t just tossing money to everyone who applies. The POI threshold has been lowered and a tier system introduced, but the guidelines have gotten much more stringent. very soon the final (for now) version will be published and you will see some additional requirements that should help keep standards high and make questionable proposals easier to weed out. :slight_smile: if you have any other suggestions or queries, happy to hear them out.


#49

Great to see those changes!


#50

Great suggestions.


#51

Great Community, good discussion and nice Tier


#52

I’m curious how the moderation process will work. If someone posts a proposal that has not been approved by the committee, will an admin remove it? Or will a different action be taken?


#53

Generally proposals can be posted for discussion if they like but not to include ncf related data: milestones, requesting amount etc. Only after a project has recieved approval should they include the funding proposal specific details. If they post too soon they would be asked to remove information relating to funding. No reason to prevent the discussions of ideas.