Encointer Growth Treasury Proposal 2/2
Encointer seeks for financing of its planned activities for the remaining time of its current common-good parachain lease, split into two proposals. The first part of the funding has already passed as Motion 510. The current proposal is the second of two and shall cover the funding from beginning of October to the end of December 2022. Encointer’s common good lease lasts until end of lease period 25, which is currently expected by Dec 12th 2022. Please also consider our request for common good lease renewal
The amount of the proposed treasury spend is CHF 257’500 = USD 261'491
Encointer has onboarded as a common good parachain on Kusama on Jan 9th 2022. Please find our earlier progress reports here:
- Our recent treasury proposal includes a detailed report on what we have achieved until June 2022 and what our plans are for the future
- Our delivery report on above treasury grant updates the information with achievements in the June-Sept 2022 period
The main focus of Encointer is currently:
- to grow its Zurich community in order to prove the viability of its protocol and implementation as well as its economics with a pioneer community.
- to onboard new communities around the world, especially in less developed regions in order to follow its vision.
- to integrate with other parachains in the DotSama ecosystem for sybil-defense, inclusivity and one-person-one-vote democracy.
As a common-good, Encointer has no way to promise any return on investment, so the project relies on grants and donations.
See our Proposal with full details
Comments (2)
I fully support this project! The team is very responsive and is continually developing the protocol/ mobile app. I believe the amount being asked for technical development is appropriate, especially considering the amount of work that will be required to bring the democracy pallet to its full potential and to add more features to the mobile app.
My only concern is the preference towards Zurich's LEU community in this proposal; $45,000 in Q4 for 1 - 2 FTE for the LEU community's vs $12,500 for all other communities (3 mentioned in the proposal). Granted LEU is the only community on the mainnet so far, but I think a little more can be allocated toward up and coming communities.
Average income per FTE per quarter:
The proposal allocates ~1.4 FTE at an average salary in Zurich for growth which I think is great - could be more considering their success! If the allocation for other communities is split evenly, weighted by local salary, it supports ~0.3 FTE for each community. I think this could be bumped up to at least half of Zurich's support to 0.7 FTE for each community. That would change the $12,500 figure to $29,400. I think this small boost would go far in helping other communities that have shown dedication and progress.
Ideally, communities should eventually become self-sufficient via fundraising and local business support so they don't have to rely on treasury funds. Regardless I think the team's initiative to financially support communities as they start out is prudent. I think experimenting with funding new communities will help Encointer develop their community onboarding process and will attract even more adoption.
I recognize my conflict of interest since I am the community leader in Green Bay Wisconsin, but I can attest firsthand that bootstrapping a community digital currency requires a lot work if it is to persist and become useful and autonomous. If anyone is curious, I am happy to share our plans to grow our community and the preparations we are making for mainnet launch.
Thank you @asteeber for your supportive comment and valuable suggestion. We accept your suggestion to increase reserves for seed support and think it is very reasonable. The proposal has been adjusted accordingly. As we just increase a reserve, the discussion on how to use this reserve can still be taken out in the upcoming weeks and months.
Still, we'd like to comment on a different perception of the following points: