Funding process


#1

I want to discuss how funding is processed. I am very

curious how it works under the hood.

So is there people in charge like funding committee?

people who checks and make sure that the proposals being delivered and

fund as its being done?


#2

Hi!

There’s no funding committee, people make proposals, put them to a vote, and if they pass, receive funding after reaching milestones. The voting system is plutocratic: the more SmartCash you hold, the biggest voting power you have (a vote coming from an address with 10 000 SmartCash is worth 10 000 votes from addresses with 1 SmartCash).

If you want to know the details on proposals, please check this guide: Step-by-Step Guide on How To Submit a Proposal for SmartHive (by @Hannahlicious)


#3

Thank you for prompt reply.

If there’s no funding committee or administrators who checks the reaching milestones?


#4

Good question, and a logical one after my reply. :slight_smile:

It is checked by team members.


#5

Voting/etc are done by community.

After it has passed, you will either contact or be contacted by a team member which will guide and assist you through the process.

At that time, a more detailed budget isrequired; costs/items all require verification, proof, quotes, receipts, etc. You would want to be organized for that part as all those information will be available to the community if requested (for transparency!) milestone achievements must match the originally passed proposal and stay within the budget.

outrageous, falsifying information, lack of proof, or cheating will be rejected. (i guess we have to make it clear now since we dont want some people to assume)


#6

sounds great.

how can I earn ambassador badge? I want to be a part of audit.

I am a great strategist, will be a great help to the community.

Transparent funding can be very attractive to new comers.


#7

you have a voice NOW!

criticize proposals, post comments, discussion, explain your point of view!

Do remember that whether the proposal passes or not depends on YOU.

ensuring fair payment and making sure the budget is correct and exact to the proposal passed by YOU - that boring work - the hive members will take care of. :slight_smile:


#8

Thanks for kind words.

I was looking for crypto currency like smartcash for years.

I want to be part of the force that makes it fairer and sustainable.