Introducing ACT Funds

As we hurtle towards mainnet, more and more potential applications for ACT Funds seem to hit us every day.

Oh yes, you (our community) doesn’t yet know what an ACT Fund is…

Let me fix that. About four months ago it dawned on us that ACT’s decentralized curation platform should be more like a protocol for any number of Funds to use rather than simply one fund as originally planned. I have to acknowledge that the ethos of the dharma protocol guys inspired me very much.

What this means for holders of CE7 tokens is that the ACT Curation Engine, where their token affords access, could become a curation platform for the entire decentralized non-profit future.

Initially, we have started discussing ACT Fund launches with some major decentralized organisations who have the unforeseen issue of not being able to “give back” because of decentralisation! ACT provides a solution. These organisations can create their own ACT Fund which receives their platform’s contribution to social good. These could be a portion of revenues, or tokens emitted. Proposals are submitted via their ACT Fund smart contract, curated on ACT’s Curation Engine (we call it ACE), and the platform’s own community get to vote via our new voting DApp if the proposals are supported by their ACT Fund.

Now we’ve had another idea, which prompted this premature post (new websites, first two ACT Funds on mainnet, and new project all imminent). ICO projects could send all or some unsold tokens to an ACT Fund that they create so that their community can decide if any should be dispersed to applicants. For example, a University could apply with a research proposal about the token, and a smart contract that agrees to lock in the awarded tokens for 5 years. This would help the project, and increase supply of tokens in the longer term (as originally planned). It would not hurt ICO investors, in fact, it could help ICO investors by allowing unsold tokens to add value rather than just be burned.

What do you think?