DevStarter Functionality

Further to the suggestion to integrate a startup funding element to Dev Protocol I would like to propose how I see this working:

  • We add the discussed “small village voting” section to stakes.social, maybe under governance

  • Any Startup project can upload ‘pitches’ which are aggregated into the voting section above. These can be aggregated something like this: Tokenlog · Token-weighted backlogs

  • Each pitch needs to include a milestone that is achievable, for example the launch of their minimum viable product (MVP). It also needs to clearly note any proposed benefits for stakers, i.e. by staking on our startup you will be the first in the que for our token sale

  • The Dev token holder community can vote to pick one project to go ‘live’ each month, perhaps voting is throughout the month but finalises on the last day of every month for the project to launch the start of the next month

  • The project that is selected goes into stakes.social under the designated DevStarter section. People can stake on this project like they can any other projects.

  • The creator of the startup cannot withdraw until he has completed the milestone. In order to do this he needs to mark the milestone as ‘achieved’ on his version of stakes.social which triggers a voting action in the community voting section discussed above

  • Anyone who has staked on the startup project gets a notification to vote on whether this milestone has indeed been achieved; yes or no. I would confine this to stakers on the project rather than Dev holders generally as they are more likely to know the truth.

  • Upon a majority ‘Yes’ vote the milestone is accepted and the project moves over from the startup section into the main stakes.social section whereby the project just becomes like any other project. i.e. the creator then has the same withdrawal abilities as any other project. Any of the tokens he has accrued from people staking during the startup period transfer over with him and can be withdrawn subject to the annual withdrawal limits etc.

  • We would need to market this clearly that listing on Dev does not involve the transfer or sale of any equity. Dev launching this functionality would be to help projects financially without them having to give away any equity. It would also help them grow and reward their early day supporters. It should also attract lots of new Dev token holders, polkastarter has seen huge growth and adoption for example.

Thoughts welcome :slight_smile:

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I agree that there needs to be a place for creators to announce their projects. What I envision is an information structure like Kickstarter. In fact, the team is aiming to build such an information structure.

And I agree with the vote-controlled milestone algorithm; I can agree if that is built as a Dapp rather than the protocol core. This is because protocol cores should not be optimized for unique use cases or scenarios, and software engineering demands that they are always primitive.

The team is planning a grant program for developers, so it would be great to create a Dapp for milestone management.

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Thanks for the fast response Aggre.

I understand your logic and appreciate the feedback.

One thing I’d like to highlight is that the recent proposals to amend the karma system etc (including this proposal) all invlove the requirement to integrate a community vote following on from your “small village theory”.

It may therefore be worth considering if this is best placed as a dapp or indeed integral to the protocal itself…

I suspect it will need to be embedded into the protocol if so many things rely on it?

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DevStarter is a really good idea and one of the best use case for DAO.

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