It’s been an incredible journey of over two years since TanglePay’s initial launch in the IOTA ecosystem. Holding substantial amounts of IOTA, our belief in its technological prowess remains unwavering. We are deeply committed to fostering growth in this ecosystem, contributing as a dedicated, professional, and proactive team.
The recent announcement of IOTA 2.0 is huge. This audacious roadmap, if executed meticulously, possesses the potential to elevate both IOTA and Shimmer to unparalleled heights. Two aspects particularly pique our interest:
- IOTA’s Layer 1 Evolution: The introduction of smart contracts stands to revolutionize the landscape, paving the way for novel web3 offerings like GroupFi to flourish.
- Reimagined Token Strategy: A paradigm that will undoubtedly offer enhanced support to builders like us.
Yet, every significant shift invites debate. We’ve been privy to discussions regarding the lack of a voting mechanism behind this momentous decision. Dom’s rationale, emphasizing the urgency of swift plan execution, holds water. As IOTA grows and takes center stage in the cryptocurrency arena, there will be an inevitable shift towards enhanced transparency and community-driven decision-making.
As steadfast builders, we are oriented towards the horizon. It’s imperative to ensure that this significant decision translates into tangible success for IOTA. Drawing from my extensive experience as builder in the crypto space since 2014 and my dedication to IOTA’s progress, I propose the following:
- Community Involvement: It’s crucial to engage the community in the decision-making process. The true strength of IOTA is rooted in its community, one of the most robust and dedicated in the entire crypto sphere. We cannot risk alienating this foundational asset. By ensuring transparency and inclusivity in decisions, particularly those with significant ramifications, we will reinforce IOTA’s resilience and maintain its pivotal position in the industry.
- Empowering Continuous Contributors: Our dedicated builders, who consistently contribute, are our pillars. We’ve historically faced resource constraints, which everyone understands. But now, as resources become available, we must judiciously allocate them to fortify our builders. Their success in designing widely adopted products is intrinsically linked to IOTA’s success, eventually benefiting all token holders.
- Balancing New and Old: While fostering new teams is vital, our long-standing builders—those who’ve been with IOTA through thick and thin—warrant special recognition. Their proven track record of delivery, quality, and loyalty is invaluable. For newcomers, we must discern genuine contributors from those with fleeting interests. A nuanced funding mechanism, with periodic evaluations for newer contributors and a more streamlined approach for our consistent builders, would be optimal.
And here is the more detailed proposal:
Proposal of Financial Support for the existing builders
In this proposal, please vote for Yes or No just to show if you support it or not. The final say on its adoption, and determining the beneficiaries, should lie squarely with the community.
1. Special Financial Support for Existing Builders:
A designated financial package will be put to vote. If approved, this will be disbursed to support the ongoing efforts of our established builders over the next two years.
- Teams: A maximum of 15 teams (subject to confirmation) will qualify for these incentives.
- Application Process: Teams from the community can forward their candidature, either for individual projects or as consortiums of projects. If selected, they can internally manage the distribution of the grant as deemed appropriate.
2. Proposed Allocation:
- Amount: Out of the 12% token reserve set aside from TEA (Tangle Ecosystem Association), it’s proposed to channel 6.25% (equivalent to 0.75% of the total supply or 34,500,000 IOTA) to back the stalwart builder teams. These teams have consistently fortified the IOTA community over the past years, establishing themselves as an integral part of our ecosystem.
- Distribution Across Teams: The 15 qualifying projects will be stratified based on the community’s voting into three tiers:
- Tier 1: Comprising five teams, each will be allocated 3,450,000 IOTA (cumulatively 17,250,000 IOTA for the tier).
- Tier 2: Consisting of five teams, each will be allocated 2,300,000 IOTA (amassing 11,500,000 IOTA for the tier).
- Tier 3: Incorporating five teams, each will be allocated 1,150,000 IOTA (totaling 5,750,000 IOTA for this tier).
3. Token Distribution Schedule:
- Initial Release: Upon approval, 10% of the allocated tokens will be disbursed upfront.
- Vesting Period: The residual 90% will be vested and distributed evenly over the subsequent 24 months.
This proposal aims to both recognize and bolster the efforts of our core contributors. Your insights, recommendations, and votes are pivotal to its evolution. As we await the establishment of the IOTA governance framework, this proposal will be relocated appropriately within the governance forum. The primary objective of this voting procedure is to gauge community support for providing financial assistance to existing builders in the forthcoming IOTA governance.
- YES, I support it!
- NO, I don’t!
As we stand at the crossroads of transformation, let us remember that our collective strength, determination, and vision will shape IOTA’s destiny. The challenges ahead are many, but together, with unwavering resolve and unity, we can craft a future that reflects our loftiest ambitions. Here’s to forging ahead with purpose, innovation, and shared dreams for IOTA’s luminous future.