Community Fund
NavCoin is built by the community, for the community - it’s an open-source project that ran no premine or ICO. NavCoin’s Community Fund enables anyone to get paid by the network for their contributions to the NavCoin ecosystem. Projects are funded and approved by the decentralized network with no central authority. This ensures NavCoin’s direction remains firmly in the best interest of the network and is autonomously determined by the community.
How The Fund Works In 3 Steps
Step 1: Submit
Dream up the improvements you would like to see in the NavCoin ecosystem, and submit your proposal to the network.
Step 2: Vote
Anyone who is staking the NavCoin network can vote ‘yes’ or ‘no’ for every proposal with their full network weight.
Step 3: Payment
Payments are only released after a second round of voting validating ‘proof of effort’ by the proposal owner.
The first community fund to implement a dual vote, to ensure that if work is never completed the funds are returned. Anyone and everyone can get involved by submitting a proposal - leaving it to the network to decide what's most valuable. No one owns the NAV in the Community Fund, the only way they can ever be spent is by the dual network consensus vote. Every block that gets minted generates 0.25 NAV into the community fund which accumulates over time. Funds get released through a second vote - which can be paid out in stages or once the work is completed. The community fund gives more power to the community - by funding people to get involved, and giving the network more of a voice about the direction of NavCoin.The Worlds Most Advanced Community Fund
The fund pays you to take your idea, nurture it, and build a team to bring it to life
Dual-vote consensus
Open to anyone
No centralised fund
250,000 NAV per year
Different ways to get paid
The network decides
How Do I Get Involved?
The NavCoin Collab website is the space to find the range of projects that the community is working on. It acts as the ‘town square’, and makes it easier for the community to collaborate on projects together.
How To Create A Proposal
We’ve got a process to help you ensure your proposal has the best chance of passing.
Work out the details of the project. You need to communicate why the NavCoin community should fund it, if you need to tap into other people’s skills, and how long it will take from start to finish.
Your proposal might suiting being funded in stages, especially if it’s long term devising a roadmap will help.
To complete the process, you will need to pay a proposal fee. If the fund has only a small amount of NAV left, then the projects that pay the highest fees to the network will be accepted first. A fee is necessary to stop people submitting poorly thought out proposals.
- The minimum participation rate of stakers needs to be 50%
- Of that 50%, a proposal must receive 75% ‘yes’ votes to be accepted
- 67.5% ‘no’ votes will result in it being rejected.
- Proposals that don't met the 50% participation rate after 6 block periods will timeout and need to be resubmitted.
Keep the community updated with how things are progressing in your project. It’s ok to ask for help along the way.
Payment is subject to a second consensus vote among NavCoin stakers. There must be a 50% minimum participation, with 50% ‘yes’ vote to be paid and 50% ‘no’ for payment to be rejected.
Note that you will need to submit your payment request before the project expiration date (which you set when you create your proposal - so make sure to include some buffer).
