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Funding your web3 project
- 1. Funding your Web3Project
- 2. Bruno Skvorc Technical education@ Web3 Foundation ● @bitfalls ● bruno@web3.foundation ● @swader (Telegram) ● @bruno:web3.foundation (Riot / Element) ● linkedin.bitfalls.com
- 3. Grants Builders Program Funding ANDexpert help Web3 What even is a Web3 project? Types, projects, and stack TABLE OF CONTENTS Treasury Council, Proposals, Tips, Bounties 01 02 03 04 PLO Auctions and Parachain Lease Offering 05
- 4. Web3 01 What even isa Web3 project?
- 13. So… what’s aWeb3 project?
- 15. Any project which... Decentralizes computing Usingblockchains for censorship resistant global computing Decentralizes Storage Using blockchains for censorship resistant access to information, or to aid provenance or immutability of that information Decentralizes Access Using blockchains to allow everyone to access anything, globally. Allow people to send messages of any type to any person at any time.
- 16. But also... Research Research thatbenefits Web3 in some economic, legal, or technical way. Includes studies, research projects, PhDs, proofs of concept. Tools to help others Open source projects to help those listed previously realize their potential and their goals.
- 17. CONTEXT RULES! ● Mustbe USEFUL to the Polkadot ecosystem ● Does NOT need to be exclusive to Polkadot ecosystem and can be a MOVER or a COOP ● SHOULD be a serious venture, potentially profitable down the line for either the community or the developer
- 18. What “build onWeb3” options are there?
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- 23. Payment in BTC NoDOT / KSM option currently. Up to 30k $30000 is the upper limit, but can be multiple installments. Open In the open - transparent towards the community in both proposal and execution. Submission Submission happens via Github, RFP not necessary. Speed Very fast on feedback (~2-4 weeks) OPEN GRANTS
- 24. Payment in Fiat NoDOT / KSM option currently. Above 30k If the team needs a bigger cash influx at once. Closed Finances and even team can remain private - good even for covert transitions. Submission Submission happens via direct contact. Speed Can take months to get a response - much bigger circle of people involved in decision. CLOSED GRANTS
- 25. Preferred for: Startups We wantto help you make a business out of your Web3 venture. Can be a DAO, can be a traditional startup, as long as it brings adoption. Long-term open source work Open source is great, but only if it’s maintained. We don’t want to fund abandonware, so some commitment of long term support is desired. Research PhDs, tech, legal, or economic research, as long as the conclusion has potential to be useful to the Web3 ecosystem.
- 26. Grant Distribution 415 GRANTS352 GENERAL 63 OPEN 100% 85% 15%
- 27. Completion 183 ACCEPTED GRANTS105 MILESTONE 1 67 FINISHED 100% 57% 36%
- 28. Categories of acceptedgrants
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- 31. INTENDED FOR PARACHAIN AND INFRADEVELOPERS ● funding ● community ● business development ● technical assistance ● strategy substrate.io/builders-program
- 32. Builders Program is: HighlyStructured A plan is laid out, regular check-ins held with all team members, roadmaps are built and modified. In short, it’s serious. Focused on the whole lifecycle The program helps a project get off the ground, but also assists in everything from development to post-launch and commercial activities, events, etc. Encouraging Encouraging to homebrewn builders programs. Example is Plasm with the Plasm Grit program.
- 33. 180 projects 30+ chainstrack 7+ infra trackaccepted accepted applied
- 34. SERIOUS PROJECTS3 milestonesevery 3 months including min. 3 deliverables at least and 6-weekly one-on-one checkins to streamline progress, dedicate the right resources needed for the teams and make sure they are successful Preferred for:
- 35. TREASURY On-chain democracy inaction 04
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- 40. TREASURY On-chain stash ofmoney filled through TX fees and slashes.
- 41. TREASURY On-chain stash ofmoney filled through TX fees and slashes.
- 42. COUNCIL CAN APPROVE: PROPOSALS Largerprojects. Any context, as long as it’s useful to the chain it’s being funded by. TIPS Awesome resources like videos, tutorials, infographics, and other evangelism or small PRs, open source contributions, etc. BOUNTIES New feature! Similar to built-in Gitcoin: bounty is proposed, approved, funded, curator is assigned. UI soon (first bounty!)
- 43. SERIOUS 😠 Blockchainy butnot too crazy. Tools, UIs, Polkadot-specific projects, infrastructure improvements, etc.
- 44. EDGY <3 Experiments, art,crazy code, push the envelope, cypherpunk and cyberpunk.
- 45. CAVEAT ● You needa deposit. Varies per chain. ● Deposit is burned if proposal is rejected. ● Spam-prevention method.
- 46. 55 proposals 35 approved 1600KSM avg~$55000 USD @ $35/KSM
- 47. 57000 KSM 239300 KSM 0.2%BURNGoes to Society currently (edgy!) Total funded: 2 million USD Remaining: 8.6 million USD
- 48. 22 proposals 17 approved 6163DOT avg~$27000 USD @ $4.5/DOT
- 49. 98623 DOT 9200000 DOT 0.1%BURN Total funded: 443000 USD Remaining: ~40 million USD
- 51. PLO: PARACHAIN LEASEOFFERING 05
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- 54. PLO: ● prevents stakingof DOT / KSM ● is complementary to grants and even builders program ● should be well planned, both financially and with the potential community. For an example, see Phala’s request for input on their forum: https://bit.ly/phalaipo
- 55. Consider: ● whether ornot to cap the contribution
- 56. Consider: ● whether ornot to cap the contribution ● distribution: post-PLO lock-up or not
- 57. Consider: ● whether ornot to cap the contribution ● distribution: post-PLO lock-up or not ● set the token price before or after the PLO?
- 58. Consider: ● whether ornot to cap the contribution ● distribution: post-PLO lock-up or not ● set the token price before or after the PLO? ● early contributor race?
- 59. Consider: ● whether ornot to cap the contribution ● distribution: post-PLO lock-up or not ● set the token price before or after the PLO? ● early contributor race? ● allow exchanges and massive players, or maintain decentralization through on-chain identities and other means?
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- 62. ● tips ● longterm: treasury Video tutorials
- 63. ● treasury ● grants YieldUI - earnings over time - comparison with network avg - breakdown of payments: fees vs block rewards - tax calculation based on payout triggers
- 64. ● grants ● buildersprogram Staking Optimizer - validator selection and filtering based on an arbitrary selection of attributes and past performance - staking right from that UI - takes small fee for the service
- 65. ● Kusama treasury TweetArchive - service to archive Tweets using Kusama’s remark functionality
- 66. ● builders program ●grants ● treasuries TX Scheduler - a network of nodes watching for pending TXs - relayed transactions - execution at a specific time or block (excellent for referendum sniping)
- 67. ● Kusama treasury TokenBurner - UI with ability to burn DOT / KSM
- 68. ● Builders program ●Grants ● Treasuries Token Distribution Viz - demonstrating centralization or decentralization of economic power over user-submitted time period
- 69. ● Builders program ●Grants Event Subscription SaaS - subscribing to events on chain, and getting IM, SMS, and email digests - super-high uptime needed - additional selling point: API to query indexed events
- 70. ● Builders program ●Grants Identity Directory - a web UI with all identities searchable by fields and certain values and attributes - direct link to profile page of each identity - identity’s history of on-chain interactions for reputation overview
- 71. ● Builders program ●Grants ● Treasury Council Observer - a web UI for voting on referenda - for looking at Council memeber identities and past activities - for filtering and identifying inactive and dormant Council members - for identifying affiliation (email domain)
- 72. Bruno Skvorc Technical education@ Web3 Foundation ● @bitfalls ● bruno@web3.foundation ● @swader (Telegram) ● @bruno:web3.foundation (Riot / Element) ● linkedin.bitfalls.com THANKS!