This page provides an overview of the "Symbol Community Fund", which will be launched to promote the organic use of the blockchain "Symbol", as well as future plans. "Symbol" is an L1 blockchain that utilizes distributed ledger technology and has a general function that makes it technically difficult to tamper with data even on a network where an unspecified number of participants participate. In addition, it has a multisig function and complex contract templates that are built natively to the blockchain, allowing it to be safely linked with existing systems even without advanced blockchain technology. Additionally, we place emphasis on development and promotion while maintaining decentralization and permissionless systems as much as possible.
However, as of September 2023, the activities of each individual are often closed to each individual, and there are problems with the scale of the initiative, the sense of speed, and horizontal collaboration. In addition, since activities are the responsibility of each individual, it is difficult for outsiders to understand and recognize the status of the activities.
In response to this situation, we will launch a permissionless virtual team called "Symbol Community Fund" in order to promote the activities of each individual while maintaining decentralization and permissionless as much as possible.
“Symbol Community Fund” will mainly engage in the following activities.
- Symbol promotion activities
- Fund operation using Harvesting
- Decentralized management of funds using Multi-Sig
- Blockchain-wide voting with Symbol Importance Poll
- Execution of the use of funds decided by voting
Additionally, the following rules will apply to the structure of this virtual team.
- Anyone can make suggestions regarding the use of the Fund on the designated Discord.
- Suggestions for using the Fund will be decided by voting after discussion on Discord. -Multi-Sig managed accounts are operated by at least three administrators.
- Anyone can vote no confidence in Multi-Sig managed accounts at any time.
- The use of proposed funds is limited to activities related to Symbol.
- The upper limit of the monthly number of Symbol Tokens of the Fund that can be proposed is the monthly Harvesting number.
We hope that the activities of the Symbol Community Fund will have the following effects:
- Activate Symbol dissemination activities and increase the number of participants
- Realization of more advanced decentralization/permissionless, conversion to DAO
- Activate discussions within Symbol and speed up decision-making
- Expanding the ecosystem to utilize Symbol
Through the activities and effects mentioned above, we will contribute to increasing the value of Symbol. We welcome you to join the discussion.
Symbol/Nem Marketing Japan