Protea & MakerDAO

Maker welcomes Protea as Community Fund Grantee

Protea becomes one of Maker’s first Comunity Fund grantees

We are excited to officially announce that Protea is one of the first grantees to Maker’s Community Fund. Dai will play an integral role in realising our vision at Protea, and we look forward to working closely with the Maker team.

Protea will use the grant funds to accelerate open source development of Dai backed community structures on main-net, including the development of a Dai Bonding Curve SDK.

It won’t be much longer and you will be able to bond Dai into communities on Protea — our first use case, Protea Meetup, will go live on main-net in April this year!

Join our Telegram to be part of the conversation. To find out more about our journey, check out this article.

Calibrating new horizons

Core principle alignment

The Maker Foundation recently proposed five core principles of the Maker Governance philosophy.

Foundation Proposal v2

Protea’s core principles directly align with the following three.

Driving Dai Adoption

Communities on Protea are represented by Token Bonding Curves. We firmly believe that all community curves need a stable backing. Stability and familiarity are two fundamental properties of any well-designed system that seeks to create human connections. We believe that the on-boarding of potential users, both to blockchain as a whole and to Protea specifically requires a middle ground to comfort users into newer paradigms.

MakerDAO’s Dai provides the perfect fit as collateral for all community curves on Protea.

Serving The Underserved

Serving the underserved refers to Maker’s focus on Dai adoption in emerging markets by recognizing the tremendous opportunities for growth that results from reducing inefficiencies in the global economy.

We see great value in Protea for communities in emerging markets such as community-centric Stokvels in South Africa — the origin country of Protea. The tokenised trust and commitment mechanisms built on our protocol, specifically in relation to collective buying powers, aim to place a strong focus on financial inclusion. Leveraging token engineering principles, we’ll provide communities in emerging markets with previously unseen savings opportunities.

Gradual Decentralization

The Foundation will drive Maker towards increased decentralization, with every step opening up more aspects of governance to community control, while eliminating single points of failure. At the same time, the Foundation will also take responsibility for teaching and providing guidance on how community members can most constructively contribute to governance.

We seek to work closely with Maker to help establish the backbone of decentralised community networks and sustainable grassroots movements around the Maker Foundation — leveraging utilities built on the Protea Protocol.

Thanks to Richard Brown, David Utrobin and the whole team at Protea, Linum Labs & MakerDAO