🤝The $PAID Community Fund
Empowering Everyone
In a new initiative towards decentralised governance and community empowerment, we are thrilled to announce the core thesis for the $PAID Community Fund. This innovative platform will play a crucial part of the $PAID ecosystem and token economy, and is set to redefine how our community collaborates upon its launch in the near future.
The purpose of having a Community Fund built into the ecosystem is to:
Create a sustainable way to reward $PAID stakers.
Attract new community members into the $PAID ecosystem via a unique offering unseen at other launchpads.
Provide $PAID token stakers with additional indirect allocation exposure.
Provide an additional closed loop in the token economy, boosting $PAID token burn rate.
How It Works:
We want to make sure you are heard when it comes to investing in the $PAID Community Fund. The $PAID Community Fund may be launched with $PAID internal team members initially overseeing operations, with the goal to eventually hand over control of the entire flow to a DAO composed of $PAID token stakers.
Proposals can be made by the top 50 stakers and the rest of our stakers can participate in decision making through voting (with voting powers scaling according to the number of $PAID tokens staked):
The $PAID Community Fund should be responsible for the following:
Proposition of projects to pursue and broker deals for investments.
Project(s) to invest in with the community fund.
The Community Fund will be used to invest in early-stage projects (e.g. Seed / Pre-Seed) that would typically not be available to launchpads at all. The rewards of the Community Fund will be sold and converted to $PAID tokens and provided to $PAID stakers as incentives. The $PAID Community Fund is now exclusively funded through the 2% on-chain tax applied to all staking-related transactions, providing us with plenty of opportunities to allocate. Having this in place will allow us to enhance our funding model while maintaining our focus on supporting early-stage project investments.
How can I initiate an investment proposal?
Proposals related to the $PAID Community Fund will be able to be raised by any of the top 50 stakers. This ensures that only stakers with a sufficient interest in the PAID ecosystem can propose $PAID Community Fund decisions.
Once a proposal has been made, the rest of our $PAID stakers can vote to affect the outcome of the proposal.
Once the proposal has been passed, it will be implemented by the $PAID team, and you have nothing left to do but sit back and watch the results of your efforts.
Please stay tuned to our socials for the announcement of its release date in the not-too-distant future.
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