## UPDATE: Superseded by [Proposal 77](https://kusama.subsquare.io/referenda/referendum/77)
### Based on your feedback we won't be pursuing the current amount of funding, instead we will go for a "trial run" requesting less funds for a shorter period of time leaving out the parachain development and the hardware wallet. 

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Hi, fellow community! Thanks for the feedback on [referendum 47](https://kusama.polkassembly.io/referenda/47), we learnt a lot and are now resubmitting our proposal to fund us The [Virto](https://virto.network) team. We are a group of creative and competent individuals with an extraordinary track record of building multiple projects in the ecosystem with funds from the treasuries and Web3 foundation. We aim to become the _"Latin American Parity"_ team of builders, focusing on creating user-friendly technology and tools to bring Polkadot technology to the masses.

We are proposing to build a **developer-friendly stack** to build impactful Web3 infrastructure for Kusama to empower individuals and communities through _user-friendly Web3 tools_ and **increase** decentralized technology adoption in the Kusama and Polkadot ecosystems. The team is requesting `20,000 KSM` in funding to continue our work towards reducing social inequality and improving the efficient allocation of public resources. Our team's vision is to reduce social inequality and improve the efficient allocation of public resources by empowering local communities with autonomous micro-economies through our Local Incentives Protocol (LIP).

Given our previous work helping 350k+ families in Venezuela to keep their money value using crypto, we have a deep understanding of the ecosystem and, most importantly, first-hand experience building and deploying real use case solutions using web3 technology. By making it accessible to regular users, we can solve real-world problems with social impact and reduce inequality by providing a more efficient allocation of public resources.

You can check a short slideshow where we expose the problem and our proposed solution [**here**](https://docs.google.com/presentation/d/1-W13YnDHDfen7KIC0vALXbvHupEomqhg9nYUaJyxy9g/edit#slide=id.gf87435e6da_0_183), and our full proposal document [**here**](https://docs.google.com/document/d/1b48eTa9GU7s0_Xf4hkyc7M1netZvNbGONJ8D_IgoknA/edit#).

**Edit - Extra content:**
- [First VirtoLIVE stream](https://youtu.be/mX3_RcKsJvQ) with team's intro and projects explainer
- [VirtoLIVE Q&A #1](https://youtu.be/wk-NWqBktV4) (17/01/23): Addressing Pokassembly questions.

Propose and approve a spend of treasury funds.

- `origin`: Must be `SpendOrigin` with the `Success` value being at least `amount`.
- `amount`: The amount to be transferred from the treasury to the `beneficiary`.
- `beneficiary`: The destination account for the transfer.

NOTE: For record-keeping purposes, the proposer is deemed to be equivalent to the
beneficiary.

:

1. Virto Network is requesting 20,000 KSM in funding to create a user-friendly developer stack for Web3 infrastructure on the Kusama and Polkadot ecosystems.
2. Our goal is to reduce social inequality and improve the efficient allocation of public resources.
3. Our team has first-hand experience building and deploying real use case solutions using web3 technology.
4. Further information is provided in the slides and proposal documents linked in the post.
5. Extra content includes the first VirtoLIVE stream and a Q&A.

#68 Developer friendly stack to build Impactful Web3 Infrastructure for Kusama (funding the Virto team)

No Active Proposals