#349 Virto 2024
After the feedback received in ref#342(check for more details) here is an updated proposal that seeks to fund the Virto team every spend period(6 days) at a lower rate of 260KSM per period(instead of 333KSM) for what is left of 2024(50 repetitions instead of 121).
Average monthly spend(10 FTE): 260KSM * 5 * 41.72 USD/KSM(EMA30) ~= 54,244 USD
Call to cancel schedule:
0x15002b0101881d03566972746f207465616d20323032342066756e64696e67202020202020202020010a000000
Summary
- The Virto team aims to continue developing its light and easy to use client side tools in the form of the VirtoSDK that fills a gap in the libraries available in the ecosystem, it is modular(use only what you need), multi-platform(same code base for Rust, JavaScript, Python, Kotlin, Swift, Dart) and light(usable in embedded hardware and IoT).
- The team formed mostly of Polkadot fellowship candidates will develop pallets and propose changes that we believe can enhance the PolkadotSDK to benefit the Kusama community. We focus on practical functionalities that improve user and developer experience that we can test and polish in our common good-like parachain Kreivo. Some examples are:
- Pallet payments: Credit-card like reversible payments for goods&services.
- Pallet communities: Powerful DAOs that can conduct real world businesses.
- Pallet pass: Issue free transactions from different devices that control your main on-chain account.
- Pallet matrix: Two way control of decentralized chat rooms(e.g. a vote on a friendly poll triggers on-chain governance actions)
- ... and more! see our live roadmap or suggest ideas that we can champion and implement.
Virto team also aims to become self-sufficient by starting a "commercial community" in Kreivo offering solutions as a service. Our long term goal is still rooted in tackling social inequality by implementing the local incentives protocol.
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I think this is a fair compromise. While I don't totally agree with this payment structure I see Virto really trying to find some middle ground which is respectable. I guess I won't be a complete stickler for individual direct spends or bounties.
I also appreciate you providing the call necessary to cancel the payments. I've confirmed that this call is correct and will submit a Treasurer track referendum to cancel the scheduled payments. To be annoyingly nitpicky, this call is not a "Call to cancel schedule," it's a "Call to submit a referendum to cancel schedule." I know that's implied with the structure of the call, but it's always good to be as explicit as possible.
Thank you for making an effort to incorporate feedback. I will be checking in on the progress of this in ~3 months time - I've put a reminder in my calendar! Onward!
Hey Virto Team,
Thank you very much for doing all the work in the ecosystem. I have a small request. Please go through this AwesomeDot repo and add the projects that we might have missed. AwesomeDot Team will be really thankful to you.
I would love to support this, the only problem I have is the starting "commercial community" in Kreivo. I would Yay this if payment was done in USDT or stable instead of on KSM native (out of scope but would be very nice to have and the ecosystem will recognize that), and retroactive based on results. I see you are in Venezuela, and I know they could use this tool over there.
Thanks for the submission, and do hope you resubmit an enhance proposal.
@jose your feedback would have been very welcomed early during the decision period, but this late after we've been engaging with the community and asking for feedback since the start of the year ... 😢
I'd like to understand better your worry about the commercial community, it's actually coming from community feedback as a way to make the team self-sustainable in the long term to not depend on the treasury funds forever. Unfortunately payments can't be done in USDT yet and the proposed payment structure is a first of its kind that is designed to have the least impact on the treasury and give more security and control to the token holders, we know well and care for the ecosystem so we want what's better for everyone in the long run.
About retroactiveness, I understand it's appeal and we have actually spent the last half year building "retroactively", we've built a robust payments infrastructure and a "DAO factory" that integrates well with OpenGov(contributing changes to the PolkadotSDK in the process) and will enable new collectives to be formed easily and conduct all kinds of real-world economic activities, none of that covered by any funding. Software is an iterative process that requires continuous development so supporting a proposal like this one also meas supporting the continued improvement of the differnet tools we create for the ecosistem besides the bigger vision of the team to bring real world value and adoption of web3 technologies. As a team of latinamericans spread around the globe(curiously noone from/in Venezuela) we do hope to test our technologies first in the region as it's where web3 can impact the most :)
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Voted Aye