Budget Addition Proposal 2019–2020
Progress has been great as of late and we have very good momentum with our development and demos as we are finalizing the foundations upon which everything will be built upon.
As things have been speeding up we have however been spending at a very high volume recently, so for an upcoming update we want to propose extra treasury dedicated for our dev operations to make sure we are able to release our DEX and comfortably have resources to launch it + fund the rest of development by the end of 2020. The last thing we need is to stall out of funding right as we are crossing the finish line. To address this we have proposed what we believe is a safe stable budget plan for the dev treasury that will ensure we will get through 2019 and also be safe going into 2020 as well.
The proposal is to Add +2M XSN (2% of the total supply) to the circulating supply toward dev ops (for private sale OTC over the course of months — will not be on exchanges ). Also another 5M will be reserved out of circulating supply for future team members, strategic partnerships and or emergencies if needed. If any excess XSN is not needed in the future it will be burned
This implementation will make sure all of the current holdings will remain stable, with only a 2% increase of circulating supply done OTC so no sell pressure on exchanges. To avoid centralizing funds to one holder our team will distribute them in portions throughout the community.
The most important thing for our project is our development and operations keep moving steady, this plan will ensure us even in a bleak market future we will be able to push ahead.
As those in the test channel will know we are gearing up to begin testing of our One Click Lightning Swap tech and DEX so this is a huge milestone for us as we close in on its big launch. You have also noticed new Devs being added to the team as we are now able to expand on that front to speed up development and begin building supporting products for our platform which we will talk about in more detail at a later date. Also you have already seen the new video, the first of many to come along with our new branding which will kick-start our new marketing activities. It’s an exciting time to be at Stakenet, so many moving parts all coming together which we will finally be able to show the world what Stakenet is all about