01-29-2020, 10:48 AM
Decentralized Funding - The NavCoin DAO
<!-- SC_OFF --><div class="md"><p>There's been a lot of talk lately about the use of mining rewards as a form of self funding for cryptocurrency projects. So I thought I'd bring your attention to a project that has already been doing this very thing for over a year now.</p> <p>Late in 2018 the NavCoin network implemented it's DAO - a decentralised financing tool that receives 0.5 NAV per block staked to help self fund the network.</p> <p>The NavCoin DAO runs a dual consensus voting system that - to my best knowledge - is not used anywhere else in the blockchain space. Projects are approved for funding and payment using a two-stage voting process - one vote for the initial proposal, then a second for payment request once the work is complete. Voting is done via nodes staking (validating) the network, and anyone is encouraged to take part. 1 stake = 1 vote.</p> <p>I feel like self funding is going to play an important part in taking that next step towards legitimate decentralization, and the NavCoin DAO is using it's own unique system to try and achieve this.</p> <p>If anyone's interested to look further you can find more info <a href="https://navcoin.org/en/community-fund/">here</a>. There's also a <a href="https://github.com/aguycalled/cfundpaper/blob/master/cfund.pdf">technical paper</a> for anyone interested.</p> <p>DISCLAIMER: I am a part of the NavCoin community.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>There's been a lot of talk lately about the use of mining rewards as a form of self funding for cryptocurrency projects. So I thought I'd bring your attention to a project that has already been doing this very thing for over a year now.</p> <p>Late in 2018 the NavCoin network implemented it's DAO - a decentralised financing tool that receives 0.5 NAV per block staked to help self fund the network.</p> <p>The NavCoin DAO runs a dual consensus voting system that - to my best knowledge - is not used anywhere else in the blockchain space. Projects are approved for funding and payment using a two-stage voting process - one vote for the initial proposal, then a second for payment request once the work is complete. Voting is done via nodes staking (validating) the network, and anyone is encouraged to take part. 1 stake = 1 vote.</p> <p>I feel like self funding is going to play an important part in taking that next step towards legitimate decentralization, and the NavCoin DAO is using it's own unique system to try and achieve this.</p> <p>If anyone's interested to look further you can find more info <a href="https://navcoin.org/en/community-fund/">here</a>. There's also a <a href="https://github.com/aguycalled/cfundpaper/blob/master/cfund.pdf">technical paper</a> for anyone interested.</p> <p>DISCLAIMER: I am a part of the NavCoin community.</p> </div><!-- SC_ON --> Kind Regards R