Encointer requests retroactive funding for its expenses in Jan-Jun 2024

This updated proposal addresses the two primary reasons mentioned for the rejection of Referendum 420 with a very tight 49.5%. 

• The first concern was the assumption of duplicated spending by different ecosystem participants. The Encointer team attempted to clarify these allegations through comments, but the misunderstanding persisted throughout the decision period. To rectify this, a video together with Will from ParaNodes, the author of the Proposal for Top-Up Funding of Kusama System Parachain Collators (Ref 419), has been produced. This video explains the different proposals and confirms that no duplicated spending occurred.
• The second concern was the perceived high treasury expenditure, given the current state of the treasury. To address this, the Encointer team is offering to officially waive 50% of the team members' salaries, reducing the total treasury request significantly.

The reduced amount of the proposed spend is CHF 49’350 ≃ 59’809 USD  ≃ 3’036 KSM for 6mt operations

• Full Proposal Document

Encointer is a common-good chain on Kusama laying the foundation of a more democratic and more inclusive web3. Its secure and decentralized sybil-resilience protocol enables local communities everywhere to generate their own, autonomous local currency, and use it to stimulate the local economy.

Main achievements in 2024 so far

• Community development and continued growth of Nyota in Tanzania
• Adoption of Encointer faucet
• Prototype for democratic community governance (vote weight based on personhood confidence, not funds)
• Decentralization of infrastructure

Also, some insights and learnings from 2 years Leu Zuerich community: brenzi's EthereumZuri.ch presentation