2021: 05--05 --- Syscoin Foundation May Proposal

Governance Funding Proposal

A formal introduction to the Syscoin Foundation and its goals.

The Syscoin Foundation is the official governing body for the Syscoin platform.

The Foundation Objectives and Approach

The Foundation Objectives

  1. The worldwide dissemination of blockchain technology among companies and individuals.

  2. To promote global adoption and integration of Syscoin technology.

  3. To represent the interests of the Syscoin community and its partners.

  4. To develop and manage the Syscoin platform.

  5. To add value to the Syscoin infrastructure through promotion and development, supervising financial and communication management between the involved parties.

  6. All that is directly or indirectly connected to or promotional for the aforementioned, all in the broadest sense of the word.

The Foundation shall try to accomplish these objectives by:

  • Functioning as the official organizational structure of the Syscoin Project and Platform.

  • Encouraging developers to add to and improve the Source Code and other layers of the Syscoin platform;

  • Providing sufficient and easily available information to make use of the Syscoin blockchain;

  • Promoting and supporting academic and general research in the blockchain industry;

  • Encouraging the academic community to study, understand and implement blockchain technology;

  • To distribute possible funds for the purposes of promoting development, adoption and understanding of the Syscoin Platform through sub-committees, partners and the wider Syscoin community.

Roadmap

The Foundation is responsible for the continuation and growth of the Syscoin platform. Although the goal is to have a decentralised network of teams and contributing individuals, the foundation itself requires enough resources to maintain and improve the platform — for as long as necessary.

In addition to the bigger picture and longer term goals described above, the foundation has a shorter term roadmap. The roadmap is combined with those of multiple active teams to form the Syscoin Platform roadmap.

A few examples of what’s on the Foundation’s roadmap are

  • UTXO based SPTs
  • Payment channel for SPTs R&D and possible implementation
  • Hardware wallet support for Syscoin and SPTs

Governance

The Syscoin Foundation is seeking funding to complete the long and short term goals set above.

To ensure the Syscoin Foundation will remain able to perform the task of developing and maintaining the Syscoin platform and its other objectives — even when governance is lower or no longer available — we are setting up a treasure fund. This fund will be turned into masternodes, with the idea that rewards eventually can cover (or at least help offset) related expenses.

For the day to day expenses and shorter term roadmap items, we will utilise between 20% and 30% of the governance received. Depending on the Syscoin price these funds would also be used for other expenses like:

  • Academic Research or Partnerships
  • Legal Advice
  • Security Audits and Bug Bounties
  • Exchange Listing Fees
  • Salaries
  • Syscoin infrastructure expenses
  • Community or External Improvement/Development Proposals

Besides the expected expenses mentioned above we will have the following returning costs per quarter:

Developers:                                      $4000 USD / month
Server costs:                                    $1300 USD / month
Exchange listing payments:                       $5000 USD / month

Since the last superblock was skipped, we are applying for 200000 SYS for this Month.

Voting For This Proposal

To vote in support of this proposal:

  • Vote in Syscoin-Qt
    • Open Syscoin-Qt
    • Select Tools > Console from the top menu
    • Copy and paste the following command onto one line, and hit enter:
      gobject_vote_many dee0962278a5e163b38809e9d6487e7c0192fa753ff76f49fed0efbd488471b2 funding yes
1 Like