The DSD Community Fund
Our goal is for DSD to become a widely adopted stablecoin in the DeFi space. Since DeFi market participants can benefit greatly from a censorship-resistant, non-collateral backed USD stablecoin, we believe our goal to be worthwhile.
DSD becoming a widely used stablecoin across DeFi can only be achieved in a collaborative manner with the community. Of course, the DSD protocol itself is the primary driver of community collaboration. It is designed to align financial incentives towards the mutual benefit of all participants (see this DSD overview and our FAQ for a closer look at how exactly this is achieved). Yet, while there are plenty of incentives baked into the protocol for participants to contribute to the mechanisms that drive DSD towards its peg, increase the market cap, and provide liquidity, the incentives are less so for people to carry out equally important “market adjacent” tasks. By “market adjacent” tasks we mean, as examples, the following:
- Development of the user interface (for bonding, coupon issuance, etc.)
- Security audits of the protocol
- Protocol enhancement and evolution
- Community moderation
- Marketing efforts such as design, content, branding, and website development
Therefore, we propose the creation of the DSD Community Fund.
Where does the money come from?
In the initial phase of the Fund, core team members will provide their own DSD to kickoff the fund. Early investors may also voluntarily commit DSD. All contributions are sent to a Community Fund multisig wallet, the address for which will be made public at a later date. To continuously fund tasks within the protocol, we envision either an appropriate airdrop or extra minted DSD to realize this initiative. For either option, a DIP will be proposed and voted by the community.
How are tasks and funding allocated?
In the initial phase, core team members (and possibly early investors who have contributed) will form a quorum and vote on proposals and who to onboard for each task. 66% agreement is required and funds will be distributed directly from the Community Fund multisig wallet. Note that this means all allocations are entirely transparent to the community. Qualified individuals will be selected from the community. We’ll be welcoming applications and referrals through our channels (primarily Telegram and Discord).
How is payment made for tasks?
Payment will be primarily in DSD and will make use of smart contracts to reduce risk and provide transparency. Examples:
For small tasks: 50% of payment up front, 50% on completion.
For full-time positions: Monthly “cash” (DSD) payments plus vested bonus payments.
How does this evolve?
Eventually we will propose integrating into the base protocol the allocation of a small portion of DSD rewards towards the Community Fund. The decision to adopt or reject the proposal will be made by the DAO in line with our on-chain governance process.
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We have a number of initial tasks that we’ll be prioritizing over the coming weeks, but we’d also love to hear suggestions from the community as to how best to allocate initial Community Fund capital.
Keep an eye out for job postings coming soon.
Thanks for your support!
