With the launch of the much awaited community fund, I thought I would kick off a brain storm on what people believe the funds should go towards?! I was thinking potentially targeted low cost ads? YouTube collabs? What do you guys think?
I know we are also in the middle of electing guardians of the community fund, may I suggest we could potentially do a one month post on the status of the community fund and where the funds have been used and the effectiveness of each initiative?
Building a strong community in this space is key to the success of our project, engagement of the community within the community is what will help drive the message and vision of the benefits a privacy focused coin can achieve. For everyoneās information I have no role in either the development team or community fund.
While this would help us greatly, the optics arenāt very good. But we are operating at a huge deficit at the moment.
Some things that perhaps the Community Fund can help with are some of the liquidity programs with Hummingbot or UI/UX design or a new Spark supported mobile wallet. This way core team can focus on the core development stuff while Community Fund help with some of the responsibilities rather than wholesale passing the funds to the core team.
This can help alleviate the core teamās burden without relinquishing control of the funds to us which is something I would like to avoid unless absolutely necessary.
With upcoming Lelantus Spark and Elysium it will be nice to:
make good quality promotion videos/pdfs for both Lelantus Spark and Elysium, so it is easy to share and it explains techās benefits.
for Elysium to be really successful there will be need for easy way to exchange Elysium tokens to and from Firo.
It may be good to use community fund for these.
Exchange/swap mechanism may be too complex as it requires qualified developers, but videos and good pdfs or images will be much easier as it doesnāt require development skills.
Great user friendly UI design on our new IPhone and Android app. Finally we have a good app on itās way. I would really like to see it just work flawlessly and be easy for newcomer to use. If this is going to be a real currency, we need to be able to easily spend FIRO anonymously with our phones. It is the most basic use case.
Promotion, we are not a big community. We need to get the word out. More users, means more master nodes, means higher prices, means more funds for the devs and the community.
Yes I agree definitely, maybe fund a user iPhone friendly during the bear market and then maybe focus on the promoting of the coin once that has been complete for the start of a bull market and throughout it too really get the word out.
I recommend full Ledger integration. This alone can help many potential and current users access their FIRO without the need for another app. To me one of the best things about this project is the ability for privacy but if you just want to spread the word then this alone can get everyone involved and see the potential.
Yes ultimately by getting the word out which hopefully reaches more potentials users in the privacy sphere will lead to a win-win for the Firo project.
Hopefully this will increase the network users of the coin which in turn will raise Firoās market cap which will also then grow the community fund to fund user apps which enhance their user experience.
Hello FIRO Community,
I think a small part of the community fund would be very well used to fund a FIRO faucet.
As a reminder, a faucet is a web page that allows anyone to earn a few fractions of FIRO (with some security to avoid robots, and those who would abuse). The goal is not to make a fortune, the goal is to attract new members to the FIRO ecosystem by distributing to them very small fractions of FIRO for free (for example, with a reward of 0.01 FIRO per person, this allows to please 100 people a day with only 1FIRO a day).
These faucets have had some success in the past and I think itās a cost effective way to attract new users.
The number of FIROs to be devoted to this faucet each day via the community fund remains to be discussed, as is the earnings of each āplayerā.
Reposting a community fund idea I had form about a week ago on discord here for informational purposes:
Iām suggesting that the community fund to provide a source of steady cash flow to small and medium sized entities that act as firo promotional infrastructure in a mutually supporting ecosystem to generate traffic to firo related sites and in turn increase demand for firo. The medium sized entities would include direct payments to marketers to run large scale promotional campaigns such as pay-per-click advertising on Telegram, Facebook, Google platforms, Reddit, etc, Direct messaging, Email marketing, Sponsored Content as well as real world Ad copy on Bill boards as well as TV spots. Other medium entities would include Influencres, Firo ecommerce and brick an mortar that allow firo payments, news sites , gaming and other websites, these would be paid initially to cover start up costs. Small players would be trusted community members that would act as affiliates that would receive direct payments for referrals to firo related sites (or mailing list sign ups), they could be further insensitivised through prize pools for creative things like MEMES, social media posts and NFTs. This echo system could be knitted together through a community mailing list as the artery and possibly a firo.com-type site as the heart similar to the moneros org/.com dichotomy where their .com site has a load of links to various other sites in their echo system and is socially focused and their .org is similar to firoās where itās more tech/road map focused, needs a .com. The medium sized entities could continue to be paid on the condition that they promote signups to the community mailing list. Overall this would create an ecosystem with a built in intensive infrastructure for continual growth.
For information, unless I am mistaken, here is the budget of this community fund:
FIRO Block Reward: 6.25 FIRO each 2.5 min, or 360 FIROs per day. At the current price of ā¬1.27 per FIRO, thatās ā¬457.20 a day.
The 6.25 FIRO block reward is as follows:
Masternodes: 3,1250 FIRO
Miners: 1.5625 FIRO
Dev fund: 0.9375 FIRO (address: aLgRaYSFk6iVw2FqY1oei8Tdn2aTsGPVmP, balance 130 FIRO in 8533 transactions).
Community fund: 0.6250 FIRO (address: aFA2TbqG9cnhhzX5Yny2pBJRK5EaEqLCH7, balance: 5315 FIRO in 8508 transactions )
The community fund has no sell transaction since now (be carrfull when we will decide to sell them).
Thatās an impressive total for 15 days since the hardfork, thatās equates to around $7000 (I hate using Fiat currency terms) on the current Firo price. That is a decent amount in just a short time for the community to utilise to further the Firo project and that figure is in the middle of a severe bear market!
When the next bull market comes around, this will give the Firo community a great base of funds to promote the project with!
Exciting times ahead! Wishing everyone a great weekend.
i would bring up the idea to pay masternodes.online its fee to bring FIRO back to their masternode overview site.
All project have to pay it after a hardfork after their policy.
It makes FIRO more apear to the crypto space, many people use this site to find interesting masternode projects.
i dont like it, but, everybody has to make some money, and 500 USD isnt super expensive.
i would love to take the chance and use this small amount to test out quadratic funding. i would add the first 50 USD for it
In the same way the community is stepping up to help build Firo, I think itād be beneficial if the community had more means to step up and provide infrastructure.
A couple thoughts / ideas:
Mining:
Itās apparent that the majority of current Firo miners are in it for the profits and arenāt going to move their hash for the sake of the project. I wonder if we can incentivize decentralized hash by developing an efficient Firominer for Nvidia and AMD. At least one that is efficient enough to generally beat out fees associated with using common miners and pools.
Masternodes:
Private self-hosting. From what I gather this is being looked into and maybe Tor isnāt fast enough?
2miners offers its service for free and even covers transaction fees out of their own pocket. They have done a remarkable job incentivizing miner centralization. Iām sure you are aware the Dev team have requested they not do this. 2miners have politely refused along with the miners using their pool.
Considering the resources that have already been diverted to developing GPU friendly, ASIC resistant algorithms. These efforts have seemingly proved un-popular due to elevated power usage compared with ASIC friendly algorithms. I can only assume many GPU miners prefer to compete with ASICS, as long as their GPU fans spin slower.
Considering miners track-record i.e. abandoning Firoās pool during a 51% attack, and the number of miners that are currently attacking Firo right now, even after there was an effort bias in favor of miners to inform them to vote. Yet seemingly didnāt care enough to either vote or switch pools, but care enough to try and harm Firo as much as they can.
Considering the above, directing more resources towards this, would be a hard sell for me personally.
You probably know as much as I do regarding Onion addresses. However I believe itās currently working on testnet and is undergoing testing along with other technologies such as mixnets. Personally I would be much more favorable to diverting resources into making node hosting as decentralized and censorship resistant as possible.
Iāve been registering my interest for something like this for well over a year.
It would be great to be able to host nodes from home, and not be reliant on 3rd party services. As these services are businesses, they are ultimately vulnerable to restrictive regulatory pressures.
Itās difficult for me to take YouTube content creators at face value, I think many will say anything for clicks.
If Firo intends to go full PoS, then yeah, why care about the state of mining? If Firo intends to stay hybrid, I think ways to incentivize decentralization of the hash are worth discussion, even more so if it helps build a supportive mining community. In my mind the algo is the first step to decentralized hash, whatās the next? How cool would it be if Firo was the go-to for non-provider solo mining? Very cool imo
Tbh you donāt have to take what a Youtuber says seriously, but itās certainly not just that youtube channel. Look at their viewers comments. Look at our own voting. Look at what miners are saying on reddit. Look at the actions of the dominant mining pool and their users. Itās hard not to see 2miners actions as anything but hostile.
Mining is about to become very turbulent. Right now there is $165,000,000,000 of market cap in projects that currently supports GPU miners. In a few months after āThe Mergeā weāl probably see that shrink overnight to $14,000,000,000. This excludes the other coins going PoS.
What this means in real terms, is miners pay is about to be cut by approximately 90%
Maybe the miners that stay will be a nicer bunch.
