Dear Community,
The Proof of Chaos project is running full steam again. For the past 9 months we worked hard to bring our vision to life. It has been a period of constant learning and pivoting in this fast paced environment. We are very proud of where the project is going and what we have built: anyone can now mint governance participation rewards and receive royalties whenever they are traded.
We demoed this with a sendout for all voters of Referendum 0 on Kusama.
Most of the work done to date has been covered through our last funding round in November of last year. As the future around NFTs was very uncertain at the start of this year we took the strategic decision to run our engine on minimum steam until there was more clarity on the horizon. Through this decision we have been able to stretch our last funding pretty far.
We did run a bit overboard though (19.2k USD) as we decided to completely revamp our code base. We now have a new site and the new code allows for much quicker and cheaper implementation of new features in the future. For example with the new codebase adding multi-chain support is now very easy. This proposal seeks retroactive funding for those hours and outlines our future roadmap.
As we now have a solid codebase we will also start focusing on marketing our tool. Reward creators currently have to lock up approximately 7KSM per sendout for a referendum of 500 votes. So while they do earn royalties on the trades, in the current market climate it is tough to earn back that amount through trades. In this regard we want to launch a program that reimburses the first 10 reward creators with the amount paid/locked up through their send-outs. We have included a budget of 7KSM*10 to fund the first 10 creators and get things going.
Your feedback is much appreciated!
The full proposal can be found here.