What is TreeBlock’s Community Fund?

TreeBlock
TreeBlock
Sep 8, 2018 · 2 min read

Last week, our team decided that we need to maintain a Community Fund. Therefore, we restructured our ICO by reserving 40% of our tokens for Community Fund, about 4 billions TREX. This article aims to explain to you about why we need Community Fund? and How does it work?

Unlike other blockchains, TreeBlock is the latest generation, young. We are able to self-evaluate our blockchain technology and believe in our token value.

TREX Circulation Flow

Community Fund like its name, it is managed by community, our Token Holders. Token Holders have right to vote for any spending plan of Community Fund. Some examples: Organize Events, Add more Nodes/Block Producers, Resolve Incidents, Development Grants, Reward Block Producers/Nodes that did their job well but not limited. This fund can be used for any purpose and anything that need support from TreeBlock’s community.

Because of voting is democratic then we believe the way we manage and use this Community Fund is democratic. A Community Fund Management Committee will be voted to manage the fund, any submitted proposal will be reviewed before publishing. Our community will vote on those proposals before the deadline. Per proposal will need to collect vote from at least X% of the entire token of the network to be approved. The Community Fund’s Management Committee will be voted after ICO is finished.

Submit - Review - Publish - Vote - Approve - Fund Distribute Processes

At least, we have an additional 40% voting power of the entire network are belong to our Token Holders Community. This way, we can develop our blockchain network and our community in a democratic way.

Cheers!

TreeBlock

TreeBlock

A high speed IoT Blockchain Network with Time Sharding Tree architecture.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade