RELP 2 - Unlock $REL for Ecosystem Operations In Terms of Developer Grant Programs

Relation Proposals Achieved Proposals
1

Title: [RELP 2 - Unlock $REL for Ecosystem Operations In Terms of Developer Grant Programs]

Authors: [Kurt]

Date Created: [2023-10-23]

Abstract

This proposal is to unlock 25 million $REL tokens from the 10% allocation of $REL tokenomics. This unlocked portion will be used to reward grants to outstanding developers, thereby stimulating and enriching the Relation ecosystem.

Motivation

Offering grants to talented developers will incentivize the creation of newer services, applications, and utilities within the Relation ecosystem, particularly within areas such as social media, socialfi, gaming, and developer tools. This approach will drive innovation and foster the widespread adoption and utility of the platform.

Rationale

This grant initiative aligns perfectly with our community’s mission - to maintain a dynamic, innovative, and collaborative ecosystem. The grants are purposely designed to encourage creativity and decentralization.

Key Terms

Ecosystem Operations for Developer Community: This refers to the allocation of 10% of $REL tokens set aside as per Relation’s Token Economics (Relation Labs | Web3 Social Graph Provider). This allocation is intended to fuel and support the needs of the ecosystem.

Steps to Implement

  1. Define the guidelines, application process, and criteria for the grant.

  2. Develop a secure procedure for unlocking the specified portion of the $REL reserve.

  3. Promote the grant program in pertinent developer circles and communities.

  4. Release a quarterly report to monitor progress and maintain transparency.

Timeline

Definition of Guidelines: Week 1-2

Procedure Setup: Week 3

Developer Community Awareness & Promotion: Week 4 onwards

First Quarterly Report: End of Quarter 1 (approximately 3 months from grant launch)

Budgets and Distribution

Definition of Guidelines: Covered under the Relation team.

Promotion of Grant Program: 2% of the unlocked $REL in this proposal.

Grants Program Fund: 98% of the unlocked $REL in this proposal.

Note: The unlocked funds are planned to be distributed within one year, following the assessment and approval of grant applications. If, however, the allocated funds are not fully distributed within the first year, they will be reserved for providing grants in future rounds.

 

The implementation of this proposal will foster innovation and induce progress in the ecosystem, making it more dynamic and attractive to users and developers alike.

7 Likes
2

Good Proposal, this will make it open to developers interested in developing and building on REL Ecosystem.
And will be go glad to welcome them all

2 Likes
3

This is nice incentive for developers will encourage more app to be built and help the project to grow more in the future so I think this is perfectly acceptable.

1 Like
4

This is a wonderful proposal. This will aid more developer to build in ecosytem.

5

:crossed_fingers: endorse the proposal to unlock 25 million $REL tokens. It can attract and support outstanding developers, fostering innovation in the Relation ecosystem—an essential step for our community’s long-term growth.

1 Like
6

Relation’s current ecosystem really needs more excellent developers to join, and I hope this incentive proposal can bring some changes to Relation.

2 Likes
7

Couldn’t agree more :crossed_fingers:

8

:+1: I’m in favor of giving grants to talented developers! :computer::bulb::rocket:

Why I’m in favor. Because it helps support and foster innovative ideas in the tech world. When talented developers get financial support, they can focus on socialfi, gaming and create services that can change the world. It also fosters the developer community and helps create new jobs. Ultimately, it benefits all of us. :moneybag::briefcase::man_technologist:

2 Likes
9

:microscope: Dive into our guidelines and submit yours> Relation Grant Guidelines

:placard: Grant Application Proposal Template> Relation Grant Proposal Template - #2

1 Like