The mission of the EOS Network Foundation (ENF) is to help developers, project parties and individuals better build an ecosystem on top of EOS. To achieve predictable success, we need to explore an open and transparent donation system that can effectively identify and capture ecological participants who are closely related to the development of EOS, and match appropriate funding mechanisms according to their needs, so as to ensure the present and future More timely and efficient interaction.
In the traditional mode of operation in the past, this system is opaque, and it is difficult for developers to obtain information from the outside, so the feedback from project applicants is often negative: the application experience with many obstacles not only makes applicants frustrated, but even fails to get what they expected Satisfied and resentful, it wasted a lot of time and money of the project party.
That's why we want to be able to provide the community with a funding framework that addresses community needs.
With the efforts of the EOS Network Foundation and various ecological members, people began to pay attention to the EOS ecosystem again, and some projects have directly applied for funds to the EOS Network Foundation. Before opening up the direct donation channel, our first priority remains to build a basic system to ensure that applicants and others have a fair way to receive funding, and that this process is simple, efficient, scalable, and able to Handle a large number of applications from the ecology during deployment.
At present, the ecology still lacks a framework to handle any temporary requests, and the EOS Network Foundation is actively promoting the development of such a system.
While developing the framework, the EOS Network Foundation felt it was important to share with the community some of our thoughts on establishing this new grant application mechanism: we must consider what challenges may arise and what countermeasures we can take to address these inevitable The problem. This process will reveal the rules of the framework as well as the screening criteria.
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Build a system that can grow
The first phase of Pomelo funding has officially ended at 21:00 on December 1, 2021. A total of 209 EOS ecological project applications have been received, and 1022 independent users have initiated 5796 donations for their favorite projects, with a total donation amount of 30759 pieces EOS, about $133,276, has a high degree of ecological discussion and participation.
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https://twitter.com/PomeloGrants/status/1466099132326580227?s=20
Pomelo has energized the EOS ecosystem and helped us collect important data on building a funding framework. The EOS Network Foundation predicts that once the door for individual direct applications is opened, there will be a large influx of applicants. So we have a general sense of the framework's ability to grow, it has to be able to be very scalable from the start.
In the first phase of Pomelo funding, a small number of project parties have well-written application descriptions, comprehensive and concise information, and the management difficulty of such applications is manageable. However, in the actual application process, there will be a large number of various and complex application descriptions, full of technical information and challenging new ideas, which will be extremely difficult to deal with.
If we fail to design a clear system that can analyze and provide valuable feedback on these applications in a timely manner, our funding system will be limited in many ways and will not be able to scale.Therefore, we need to maintain an ideal balance between scalability and meeting the needs of applicants.
We are very aware of this, and know that to achieve our ideals, we must go through multiple iterations based on time and ecological reality. Our goal is to ensure that the framework scales proportionally to the number of projects and people that depend on it. The closer we get to the ideal balance point, the more the EOS Network Foundation will be able to freely execute its mission, reduce barriers, increase efficiency, and grow rapidly while meeting current needs.
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Take the initiative to give personal assistance
Polkadot's Web3 Foundation (W3F) is a great learning partner for us. W3F funds projects that can lower the threshold for Polkadot ecological development, and has a detailed funding plan to help developers build decentralized applications on Polkadot more easily. W3F is also willing to fund outside of their own regular funding program, and make appropriate strategy adjustments for different situations of certain projects.
The EOS Network Foundation will also fund individual projects on a case-by-case basis, as we must discover any project that is committed and able to advance the potential of EOS. When the main development goal of an organization is to ensure the success of its ecological participants, then the original intention and determination of the organization to build an ecology can be seen at a glance, and the EOS Network Foundation is such an organization.
One of the core strategies of the EOS Network Foundation is to allocate capital through direct donations, and this method requires us to understand the specific needs of each project while understanding what the ecosystem lacks.
In a short period of time, we can use the power of the EOS Network Foundation Advisory Committee to implement this standard, but this method will inevitably encounter bottlenecks, and the scalability is not strong, so we are also thinking about more feasible Way.
Because the EOS Network Foundation does not have a funding cycle and an election cycle like Pomelo or Eden, applicants can theoretically apply directly to the EOS Network Foundation for funding at any time.
In the public infrastructure funding plan of EOS, we imagine that developers, project parties and value creators can apply for multiple channels of ecological development funds at the same time.
Applicants can apply for the Pomelo matching pool at the same time as applying for funds from the EOS Network Foundation, and at the same time participate in the election of Eden, or participate in other funding application channels at the same time.
This means that if a project successfully submits a funding application to the above three parties, then it may obtain financing from three channels in the ecosystem.
In addition, if any project has applied through Pomelo or participated in the Eden election, then when they apply for direct funding from the EOS Network Foundation, the materials and efforts they need to submit will be much smaller, because the ecology does not require the project party to resubmit , and this also greatly improves the work efficiency of the project party. In addition to the donation system built by the EOS Network Foundation, other systems can and should serve as information supplements to reduce workflow.
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cut from different angles
The EOS Network Foundation mission defines the funding process as a matter of necessity.
For example, we can identify an inside-out process, in this process, the EOS Network Foundation can contact the high-quality project parties who submitted applications on Pomelo, communicate to obtain more information, and establish a more comprehensive understanding, so as to help the EOS Network Foundation make a decision on whether to directly fund.
Such a system needs to guarantee transparency and establish accountability to ensure projects achieve their promised milestones and development vision. This will require multiple project managers to be responsible for these projects to completion.
As another example, we can identify an outside-in process, that is, projects send their proposals directly to the EOS Network Foundation, and the EOS Network Foundation will review the proposals through a team of analysts and decide which project to fund, before passing the results to the project manager for processing.
Of course, a blend mode might be better. These are the ways in which we are considering decision-making and form the basis for the final decision-making of the funding framework.
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additional support
Funding is not the only way the EOS Network Foundation can help. As a deep cultivator of the EOS ecology, it is the goal of the EOS Network Foundation to ensure that the needs of applicants are met and help them succeed. It is also in the best interest of all stakeholders in the EOS ecology.
We will strive to maintain smooth communication with funded projects, not only to help projects take responsibility, but besides financial support, the EOS Network Foundation can also provide other types of support, including:Introduction of investment institutions, legal consultation, language translation, marketing, public relations support and technical guidance, etc.
The purpose of building a sound funding framework is not just funding, but providing one-stop support services for developers, project parties and individuals to promote the rapid and prosperous development of the EOS ecosystem.
Such a sound funding framework is also valuable when multiple projects are developing the same idea or technology. The EOS Network Foundation can examine the entire EOS ecological development from a bird's-eye view, gain insight into the shortcomings and missing sections of the EOS ecosystem, take the lead in promoting collaboration among various projects, and complete the blueprint for the EOS ecological development.
A well-established funding framework can also serve as a knowledge resource for the wider ecosystem. For example, if an early project is not sure whether there is another project with a similar idea or business model in the ecosystem, he can check the projects in this framework to help project parties and investors make more informed decisions.
On the other hand, the framework can also help you recognize gaps in a project or ecosystem, and identify what types of skills or organizations can help the ecosystem be more successful. Some projects that applied for the Pomelo matching pool were rejected. The most common reason was that the introduction of the project focused on the commercial aspect of the project rather than the public value. Although this is not wrong, the Pomelo’s first funding plan pays more attention to the project’s ability to contribute to the ecology. brought value.
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Other ways to get funding
Under the EOS Network Foundation funding application framework, when a project may not be eligible for funding, they can obtain project development funds through other means, and the EOS Network Foundation can help them identify more investors who may be more suitable to support them and entities.
Our goal is for everyone in the community to know where to apply for funding based on their specific development needs. Ideally, every participant in the ecology can be in the right position for themselves, and everyone can perform their duties and exert greater power to promote the development of the ecology.
Cooperation between the wider ecosystem should be an attitude that we, as a community, should adopt and respect.
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take care of ourselves
High-quality projects are like rising stars for the EOS ecosystem, and the community needs to recognize them and ensure that they have the opportunity to find a place to grow in the ecosystem, so that EOS can grow from successfully managing its own resources.
Identifying the contribution of these projects to the EOS ecology can be that they have received high support from the community in several rounds of Pomelo's donations. After receiving matching funding and having a strong track record with multiple subsequent developments, these projects may gain more recognition and receive further direct investment.
Regardless of the function of a community member, it is important to leverage the skills and reputation of these individuals. Whether it's community managers, developers, or other functions in the community, we should grab them so that we can reinvest those resources into the community. The more we recognize the talent that is already developing EOS, the more human capital in the community will continue to compound and play a greater role.
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an adaptable mechanism
In order to keep up with the pace of the EOS ecosystem, the framework we have developed also needs to continue to grow, drawing lessons and lessons from each project, and being able to evolve with the EOS ecosystem as it grows and matures. The EOS Network Foundation plans to identify as many pieces of these puzzles as possible when the funding framework starts. At the very least, determine where the pieces should fit in the puzzle.
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About the EOS Network Foundation:
The EOS Network Foundation is a non-profit organization that aims to listen to the voice of the community, convey the wishes of the community and support the development of high-quality projects in the community, become a bridge for information sharing in the EOS community, and provide funds, technology, operations, future planning, Key infrastructure support such as ecological construction further develops the full potential of EOS as the world's fastest governance-based blockchain.
