I submit to you a proposal for improving two noteworthy areas of the Stellar ecosystem-
- An equitable mechanism for the community funding of Stellar projects by Stellar users
- A more productive use of Stellar's inflation mechanism
We propose a new Stellar inflation pool that pays out 100% of its inflation to fund projects chosen by members of the pool. Each member could chose multiple projects and allocate different percentages to each project. The pool records its data on the Stellar blockchain so anyone could independently verify that it's paying the correct amounts to each project.
Here is the gist for how it will work for Stellar end users.
- Login to app with public key only (private key stays private)
- Use app to create or update inflation pledges for up to 10 projects. See screenshot below
- Sign and submit a transaction to commit their inflation pledges. This sets their inflation target to the dev pool and records their allocations.
When it comes time to payout inflation, each user's inflation contribution will be split among the projects he's chosen based on the percentage he has set.
Each project that wants to participate simply create a listing, register a public key and attest its private key.
Main benefits of this proposal:
- Provide continuous and more predictable community funding for all Stellar projects
- Funding to each project is weighed by its overall impact to Stellar and to the size of individual user's stake in XLM holdings
- It's granular enough to fund projects big or small. No projects get left behind as long they have enough merit to convince Stellar users.
As an added bonus, the pool will provide a Stellar account query API that could be used by apps to implement Reward Tiers. An app can use this API to check how much a user has pledged and unlock bonus features.
We are currently working on a proof of concept that will be posted soon. We will have a working implementation where users could make/modify their votes and is capable of making payouts (once there are enough inflation votes) by the nomination deadline.
Thanks to all for constructive discussions. We're withdrawing from Stellar Community Funding considerations until we have worked out an actionable path towards an working pool.