Kalkulus setup a Treasury Fund aiming on future development
Last April Kalkulus successfully completed its transition, abandoning KLK proof-of-work blockchain and migrating to KLKS, a more energy saver Proof-of-Stake blockchain network secured by masternodes. As result of this recent swap, Kalkulus project accounted 1 million unswapped KLKS, originated both from unclaimed coins and premined coins. Those coins were premined in excess in order to prevent missing funds in case of bad events, miscalculations or unprevented situations.
We asked our Discord community member to be proactive suggesting new tasks that could have helped the project, and we ended collecting more interesting proposals.
One of the most voted proposals was the establishment of “Kalkulus Treasury Fund” in order to support and help future projects growth and development. This fund will implement a growing number of masternodes in different steps over a time range while locking all collected rewards in a dedicated fund.
As it was discussed, voted and approved by the community, Kalkulus Team is currently locking 200K KLKS in the public address
and will implement gradually over time a total of 10 Kalkulus masternodes. All collected rewards will be used for activities related to future KLKS development and to support important social initiatives such as educational programs, charity, and other tasks that will be decided in future. Funds will be unlocked at specific targets achievements.
Fund proposals
Every community member can submit own proposal how to use funds from a spendable account. Submission of proposals will be available in our official Discord channel under #treasury_proposals channel. Updates and progress will be tracked in our official website. The most interesting proposals will be put to the votes. Most voted proposals will be considered for implementation.
Additional information on supported initiatives will be available soon. We are sure that resources collected through this fund will help us to achieve important goals.
Some technical details
Team will start activating masternodes according to the following schedule:
- 1st June 2018, 2 additional Fund Masternodes was activated, track it below.
- 15st June 2018, 2 additional Fund Masternodes will be added
- 1st July 2018 2 additional Fund Masternodes will be added
- 15th July 2018, 2 additional Fund Masternodes will be added
- 1st August 2018 2 additional Fund Masternodes will be added
Treasury Fund Rules
- Coins generated from KLKS Treasury Fund cannot be spent from Development Team before 1st January 2019. All expenditures must be approved from Kalkulus community members.
- Funds collection will begin on Jan 1st, will end on Dec 31st and could be spent from January 1st of following year. I.e. 2018 funds will be spent in 2019, 2019 funds in 2020 and so on.
- Development team will publicly announce on a regular basis exact amount of spendable coins that will be transferred to a dedicated and transparent address (a spendable account) with the collateral of all masternodes part of KLKS Treasury Fund.
- Coins generated from KLKS Treasury Fund cannot be used to activate new masternodes.
- All masternodes addresses related to KLKS Treasury Fund will be published after activation. Status and balances of all addresses will be public.
- Stakings and rewards of KLKS Treasury Fund coins and masternodes will not be staked.
Further discussed and voted proposals regarding Kalkulus development will be discussed in next articles. Additionally, we will soon introduce Kalkulus Marketplace, Kalkulus Staking Box and all our upcoming projects.
Stay tuned for further updates about Kalkulus Treasury Fund or join us on Discord to take part on development discussion https://discord.gg/pPNzwjW
Credits: Andrej Ders, Grendel
