Community Treasury

Info

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Feb. 15 2022

The Cypherkicks Community Treasury is a treasury controlled by the Cypherkicks community. It is meant to scale our project and grow the Cypherkicks brand. At the time of writing this, there's about 3,500 ADA in the community treasury. 

Vision

We want Cypherkicks holders to participate in the process of investing funds from the Community Treasury. The hope is that the community comes up with different ideas and proposals that leverage branding in order to bring in partnerships, make the project sustainable, generate exposure, and more. 

 

Going from idea to preliminary proposal 

 

Before an idea becomes a proposal, it should be discussed in an open forum. In our Discord, the channel "Think Tank" is there for this purpose. Once a Cypherkicks holder believes an idea feels ready, a proposal must be created in the "Proposal" channel on Discord. This will allow the community to ask questions and discuss the implementation of said proposal. 

 

Key Timelines (Start to End)

 

  • Proposal Selection and initial discussion period

  • 72 hour Voting Phase

  • Proposal Results


 

Proposal Criteria - Must have all of the following or will be removed.


1. Problem Statement

2. Solution

3. Plan

4. Cost

5. Champion/Proposal Ownership - Who is responsible for the proposals execution?

 

  • Proposal Selections- Proposal owner may be asked questions about his or her proposal for voters' consideration. This process will be used to prevent proposals from going over budget/treasury limits. Each proposal will have its own 7 day discord channel under the hype-tank section for focused discussion. In the event that multiple proposals exist that result in surpassing the budget, the less popular ones will be withdrawn and able to resubmit on the following submission day.  

  • Voting Phase - Cypherkick holders will be able to vote Yes or No on proposals that have passed the selection process. 

 

How does it work?

  • A proposal must receive a number reactions to move to the voting phase. 

    • Reactions can only come from Cypherkicks holders. ​

      • Number of reactions needed to move to the voting phase in February: 30 Reactions

      • Number of reactions needed to move to the voting phase after February: 50 Reactions

  • Voters will be given 1 vote per Cypherkicks NFT owned. 

  • Votes will be cast by sending a determined amount of ADA to “x” address.

    • The ADA will be returned to the sender. Meaning, voting is free.

  • Only one vote is required by each wallet holding CK. 

  • One tx will count all of your wallets CK’s.

  • Over 50% Yes will result in a successful proposal submission.

  • A tie does not pass and must be resubmitted.

  • The CK treasury cost per voter is .18 ADA to cover the return fee of your ADA.

(Example: If 200 voters participate the treasury cost will be 36 ADA)

      

Proposal Results- Live voting results will be displayed in real time. The final results are determined by the number of votes cast at the end of the 72 hour Voting Phase.