Linked to Creators - Decentralization of LikeCoin Community Fund
Proposal #22: Allocate Ecological Development Pool Funds to Community Funds
The just-passed LikeCoin #22 resolution resolves to transfer the LIkeCoin funds in the "ecological development pool" into the "community fund". Together with other public fund pools originally managed by the founding team, after the proposal is passed, the community fund will have about 170 million LikeCoins that can be allocated by the community.
The original purpose of the ecological development pool is to promote the LikeCoin ecosystem, for example, it is used as a reward ( creation fund ) for "turning praise into appreciation", and the expenses of various publicity activities. In the past, it has been managed by the founding team; Funds mobilized through governance initiatives. With Proposal #22 , delegated appropriations must be authorized by the community by voting in accordance with the blockchain governance procedures, and the masses have a greater say in how the ecology should develop.
How public property is used, you have to say.
Motion #23: Establish a "Turn Appreciation into Appreciation" Committee
Also, Motion #23 , which is being voted on, is related to the Turning Appreciation into Appreciation movement that many creators care about.
Authors who participate in the transformation of praise into awards have income from two parts: the subscription of praise citizens and the creation fund ; the former is a direct monthly donation from readers; the latter amount is matched with the total amount of monthly donations, and is distributed to the author according to the number of likes per day.
Since 2018, the campaign of Turning Likes into Appreciation has been promoted by the project's founding team, including designing the rules of Appreciation for Appreciation and managing the fund budget. So far, 49 million LikeCoins have been given back to creators. The Creation Fund comes from the ecological development pool. With the passage of Bill #22, the management of the Creation Fund should be further decentralized from the founding team, allowing community members to use it under the authorization of the governance mechanism.
This bill is in the voting stage. We encourage everyone to vote with the LikeCoin in hand .
Decentralized power and responsibility
Over the past year, LikeCoin
- Increased from 7 validators to 50
- Proposal threshold lowered from $1 million to $LIKE deposit to $100,000
- Individuals can make their own proposals
- Individuals can vote directly by bypassing delegated validators
- The power of the founding team and founders is gradually distributed to the community, and the community authorizes three committees to manage important ecological matters.
The community and governance mechanisms are becoming more mature, and validators from different backgrounds from all over the world have joined, promoting a more diverse environment.
The community governance structure will continue to be decentralized step by step, allowing stakeholders to participate together and avoiding excessive concentration of power. At present, the community is mainly discussing in Discord . We encourage everyone to pay more attention and welcome to participate in the discussion.
community monthly meeting
The December community meeting will be held next Monday (December 6th) at 6:30pm Hong Kong time, so please join us.
LikeCoin is a decentralized publishing infrastructure that assists authors in registering content to the blockchain and writing down permanent credentials ISCN to achieve content authorization, verification, and traceability.
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