Elysian Growth Pool Details
When a company chooses to launch a Token Generation Event, they’ll engage in a variety of marketing strategies and community-building procedures to enable the communication of their methods, ideologies and business plans to potential investors. A lot of the focus leading up to the TGE is in the creation of viral marketing materials which engage cryptocurrency advocates.
Post-TGE community development is unfortunately misunderstood and varies tremendously from project to project. The Elysian team is taking proactive steps to set themselves apart and establish post-TGE community engagement to ensure continued project success.
The Elysian growth pool is a multi-faceted post-TGE community engagement plan which ensures active collaboration between the community and Elysian core team. The total token distribution event will allocate a portion of tokens to the Elysian growth pool. These tokens will be released to subsidize tasks allocated to the growth pool. The Elysian growth pool is broken down into three subsections, each of which are integral in the proper execution of the Elysian growth pool project.
Community building is a necessity for any successful project. We’ve seen through previous projects that cryptocurrency investors are extremely interested in peer-to-peer interaction through the use of forums and chat groups. The ability for these communities to interact creates a supportive environment, allowing individuals to voice their ideas, concerns and suggestions about a particular project. It also promotes transparency and honesty between the project’s community and their core team members.
The Elysian project will create a forum to facilitate community involvement in their project. Individuals will be incentivized to participate in this community forum, which will allow members to suggest ideas, ask questions and interact with each other. The forum will not only be a means of communication, but will also act as a platform to host the growth pool’s token integration and community voting programs.
The Elysian growth pool’s primary purpose is to encourage and facilitate community involvement. A percentage of the growth pool will be allocated as a rewards payment for community members who take on specific tasks and projects. We believe that our community can provide the most valuable feedback concerning our project, as they become intrinsically involved themselves. We want to reward them for offering their suggestions, comments and time to help grow the Elysian brand. We will integrate token payments into our forum and incentivize specific tasks and projects, as well as allow community recommendations for new ventures or tasks that we should undertake.
Although the token integration will facilitate community engagement for small tasks and projects, we will also integrate the ability for the community to tap into the resources of the growth pool for larger projects. Voting rights will be offered to all registered community members on the forum where they’ll be able to propose, vote and fund sponsored initiatives. Projects and initiatives will primarily fall in line with business objectives. The process for launching an initiative through the Elysian growth pool will look like this.
- A community member will present a proposal for a project supporting the benefit of the Elysian business and brand.
- This proposal will be free for more senior members of the community, however a small fee (paid in Elycoin) will be required for more junior members to help eliminate spam.
- A budget will be calculated and a project plan will be drafted to determine the total cost and scope of the project.
- Voting will commence for all registered Elysian forum members.
- A total vote of 51% in favor of a proposal will be required to proceed with the project.
- If a majority vote is cast, the project will be implemented through a combination of available growth pool budget and Elycoin coin holder donations.
Although the Elysian growth pool is not a true application of decentralized governance, as it only applies to a small subsection of the business, it has still shown to be extremely successful in growing existing communities and engaging third-party support and contributions. We hope that the community will take full advantage of the Elysian growth pool to develop our product into something we can all be proud of.