- Referenda/
- Medium Spender/
- #875/
Top-up of Proposal #87 due to DOT price change
We are submitting this proposal to request a top-up of our previously approved funding request (REF #87) due to significant fluctuations in the value of DOT, resulting in a 63% reduction in the funds received.
In our initial proposal we requested USD 118,061.84. However, due to the decline in the DOT price, we were only able to expend USD 43,756.75. When we received the funds on February 11, 2022, their value had already decreased to USD 73,263.80. Despite delaying the sale of DOT in hopes of a price recovery, we were ultimately compelled to sell on March 30, 2024, resulting in proceeds of only USD 43,756.75.
During this period, we self-funded the project. Our team continued to work on DatDot, supported by earnings from other company projects. To complete our Minimum Viable Product (MVP) and adequately compensate our team, we now require the remaining funds.
We respectfully request a top-up to cover the shortfall and ensure the successful completion of our project.
About us
Our team has extensive experience in the blockchain space. We were working for the Ethereum foundation for 3 years and were then in 2019 invited to join Polkadot ecosystem and work on a W3F funded research project that lead to the current DatDot.
During our time in the blockchain space (since 2017) we have conducted numerous workshops and talks at prominent conferences such as ETHCC, ETHToronto, Web3 summit, ETH Taipei and Devcon. Additionally, we have organized code camps, provided advisory services to auditing companies and have been involved in multiple research projects.
Top up request
Requested Funding Details:
- Original Requested Amount in USD: 118,061.84
- Equivalent in DOT: 4,583.2988
- DOT EMA30 Price in USD: 25.7591
- Transaction Reference: Subscan
Actual Funds Received:
- Amount Realized in USD: 43,756.75
- DOT Sale Price in USD: 9.547
- Transaction Reference: Subscan
Funding Shortfall:
- Difference in USD: 74,305.09
Additional Funding Requirements:
In our initial proposal, we estimated the cost of the Rust implementation to be USD 32,000. However, due to the delayed funding, there have been significant changes in the economic landscape. Inflation and increased market demand have led to higher developer rates, with current rates being no less than USD 150 per hour. Our original estimates were based on rates significantly lower than current rates. Therefore, we request an additional USD 32,000 to complete the Rust node implementation.
DatDot Progress Report
What is DatDot
Think of it as a bit torrent for blockchain. More technically - it is an autonomous hosting network for p2p data systems.
DatDot is empowering developers to build bit torrent like apps - where users can share any kind of data (small or super large and realtime). You can build live-streaming, radio apps, collaborative editors, games and all this without any infrastructure costs (because data is not being hosted on a server, but rather shared user-to-user directly (peer-to-peer)).
| Milestone | Deliverable | Status | Links |
|---|---|---|---|
| 01 | Implementation of final economic and cryptographic logic | done | datdot crypto, rating |
| 02 | Networking module | done | datdot networking |
| 03 | Restarting tasks system | in progress (40% done) | |
| 04 | Vault | done | vault |
| 05 | Rust node | in progress (15% done) | datdot pallet |
| 06 | UI implementation (view) | in progress (80% done) | jobs, plan, user |
| 07 | Desktop app | in progress (60% done) | electron |
| 08 | Documentation | in progress (85% done) | docs |
| 09 | Data shell - development tool for building bit torrent like apps in the browser | in progress (85% done) - not part of the previous proposal, but we have been working on behind the scenes full time | datashell |
| 10 | Data wallet - tooling for cloud and server free local first dapps | in progress (80% done) - not part of the previous proposal, but we have been working on behind the scenes full time | data wallet |
Community enagegement
Our team has been active online but we have also been present at irl events, such as:
- Decoded Berlin
- Decoded Copenhagen
- Sub0 Lisbon
- Decoded Brussels (upcoming)
We have also been presenting the project on code camps and conferences and have been recording daily work logs for a long time:
Talk
(click image to watch talk)
Worklogs
(click image to watch worklog videos)
- The team is asking for more money because the value of their original funds decreased by 63%.
- They initially requested about $118,000 but only received $43,756.75 due to a drop in the price of DOT.
- To keep working on their project, DatDot, they used their own money and need a top-up of $74,305.09 to finish.
- DatDot is like BitTorrent but for blockchain, allowing users to share data directly with each other.
- The team has experience from working with major blockchain projects and has participated in many workshops and conferences.
- They have completed several parts of the project but still need extra funds to finish the Rust implementation.
- They have also been actively participating in community events to share their work on DatDot.
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