We previously received a generous donation from Power Up Privacy of 50,000 USD to support Firo’s development efforts. This was a pure donation with no expectation of tokens. You can read about this donation here.
We are now set to receive a series of new donations and interest free loans to support Firo in the following areas:
Audit fees for our new tech (like curve trees)
Marketing (to fund marketing efforts through select marketing companies)
Market making inventory (in the form of loans) to support Firo liquidity in various exchanges
Development (to cover core team shortfall) and keep our developers working
Accelerating Spark Assets development and supporting liquidity of tokens once it’s ready
Integrations and other useful tools such as bridges/telegram bots/etc
Possible funding for other ventures such as Aura (our privacy voting protocol)
They’ve also expressed interest in setting up a significant amount of masternodes as well (which they will acquire themselves from the market).
This is just to share this news first with you and further details will follow. We are also approaching this as responsibly as we can and not requesting all funds upfront unless we at least have a clear idea of costings and milestone and also only requesting loans for inventory instead of donations.
This is pretty exciting and really glad that we can continue to work on Firo and also have this strong support from such a privacy believer that comes with no strings attached beyond the requirement to report how their donations are being used!
A huge thank you to Power Up Privacy and hope the community can show their support for their generosity here. They also want some community feedback on certain items such as Aura which we will post once ready!
It would be cool to fund a module for firo to be integrated into BTCPay. I use it for processing txs on our storefront and it is absolutely seemeless, noncustodial solution for payment gateways.
From the initial donation, here are the latest figures:
~240,000 USD has been deployed to various important exchanges to support Firo’s liquidity.
~125,800 USD has been donated to the core team to fund and accelerate development.
~50,000 USD has been donated to hire an additional developer for at least 6 months to accelerate the deployment for Spark Assets. We have found a developer with around 18 years of experience and he is set to begin on the 14th October after some on-boarding.
Big up to Power up Privacy! It should not be surprising that an ethically motivated organisation team up with FIRO, birds of a feather flock together after all.
