Yesterday(May 7), we invited Eric, Trias CMO, to talk about “What is the Trias Grant” in Trias community(t.me/triaslab). Following is the transcript of his sharing :
Thanks for your enthusiasm dear Triasures. Today I’d like to share with you about Trias Grant! Because this program will be related to the long-term benefits of every one of us in Trias community.
I suggest we discuss it together and everyone try to understand it so that we can make this program better.
What is Trias Grant？
Trias Grant is a decentralized funding platform initiated by the Trias Foundation. Now its initial version is available on trias. one and you are welcome to check it out for more information.
So basically speaking, Trias Grant can be regarded as an innovative crowdfunding model, aiming at supporting good projects and facilitate funding efficiency.
What kinds of projects does Trias Grant cover?
- good eco-projects supported by Trias technology
- Fintech initiatives, philanthropic deeds(such as mask donation or NFT souvenir distribution)
- academic research ( currently more research collaborations with the Oxford lab are in discussion).
Of course, Trias Grant can do more. Its ultimate goal is to enrich the ecology of Trias and make it known to the crypto world people. However, this process cannot be achieved without the joint efforts of members of the TRIAS community — dear Triasures.
How to launch projects here？
1）initiate plan and wait to be voted
All Trias holders can initiate funding plans through the Trias DAO, and approved projects can launch a grant pool on the Trias Grant and receive financial support from Trias community and Trias foundation.
In this process, Trias Grant uses quadratic vote to reach the final decision. Community members can stake TRIAS to get the vote to participate and get corresponding rewards.
In this process, we have three parties involved in crowdfunding, the proposer of the new project, the decision-maker, i.e. the voter, and the Trias Foundation.
Quadratic Voting means 1 vote for 1 point, 100 votes for 10 points. If five people are voting in the project, and the number of votes is 1, 16, 100, 400, 900 respectively, then the final amount of voted TRIAS token will be 4225. (https://en.wikipedia.org/wiki/Quadratic_voting). This avoids copycat voting, which is an advantage.
Tips：
If you are a Proposer and you want to launch a Grant pool for a new project, do remember to elaborate the whole plan in the forum of Trias DAO and get enough votes.
After enough community ferment, your project can be officially launched on Trias Grant if it has been approved by the Trias DAO members.
As for grant for blockchain projects, only innovation projects based on Trias ecology is qualified to apply for the grant. And in each project, the proposer and Trias foundation will set the hardcap and softcap.
2）Allocate tokens
After the voting process, if the project’s TVL has reached the softcap, the proposers will receive all TRIAS tokens and issues a new project token to the donors according to a certain proportion (1: x). If the project fails to launch (which means it doesn’t reach the softcap ), the TRIAS token staked by donors will be returned.
When it comes to distributing revenue, the rewards you receive are still based on the amount of TRIAS you put in.
What ecosystems does TRIAS grant support?
The TRIAS grant will support both the BSC and ETH ecosystems and will span more ecosystems in the future, support richer projects.
In the future, you can go to the Grant page on the Trias website and select the different types of projects you want to fund (get seed rounds and early investment quotas) or vote.
The specific operation steps for a grant to a blockchain project are as follows:
-Choose the projects you love to support.
-Get TRIAS from exchanges (now Kucoin and pancake).
-Stake TRIAS to support the specific grant.
-Wait for your project to win the grant.
- According to a certain proportion, you will receive the new token issued by the project proposer (1: x).
-Grant updates will be released accordingly, and sometimes rewards will be given to the contributors.
-If the grant is failed, you will get your staked TRIAS token back.
All right. That’s all for the rules of Trias Grant, which I think will be coming soon! Let’s wait and see!
