I want to introduce the “Validator Support Fund” to all of you.
The idea behind the VSF is to close the gap between the EGF and CSP.
First, I’m not happy with the outcome we saw again with Zoo Gaming. I can understand Function X.
My thought we are still in a deep deep bear market and GameFi and NFTS more or less are super dead.
NFTS and GamFi hit again a new low in volume. (Chart 1) If @indra or any other from the Function X Team gives feedback on a proposal and tells them points to improve doesn’t mean that they will vote yes or that the council already decided what they will vote. I think this is a point many have to understand. @indra you can correct me of course if that isn’t the case
Back to Topic…
The “VSF” hasn’t been created yet and I already talked to @FrenchXCore to join.
Every Validator is free to join the VSF and contribute 5-10% of their earnings.
- Projects can apply in the early stage or as pre-stage before proposing on the EGF for a bigger amount.
- VSF can support projects to fill the initial deposit to start a proposal.
- VSF can support projects that failed to start a proposal but the VSF Council thinks they should have a shot like ZooGaming.
- Helping existing projects for further developments.
- Marketing FunctionX
The VSF Council consists of 3 validators voted by the validators for 1 year and 2 constant head managers of VSF.
Initially, I thought about following the setup.
Constant Council (Example)
Initial Council (Example)
The funds will be stored on a multi-sync wallet with monthly reporting about the allocated assets.
Head and Council Members:
…receive each 25 votes + their personal contributes % in votes of their validator.
…that joined the VSF receive based on their average % contributions 1 vote each 1%.
Validator A contributes 5% of his/her earnings each month to the VSF. He/She receives 5 votes in case of a VSF voting.
Validator B contributes 10% of his/her earnings each month to the VSF. He/She receives 10 votes in case of a VSF voting.
Happy to get some feedback…