Developers Forum for XinFin XDC Network

Cover image for XDC Community requires your support!
Jonathan
Jonathan

Posted on • Updated on

XDC Community requires your support!

XDC Community was launched on August 19, 2022 with a mission to facilitate a prosperous decentralized developer community for the XDC Network. We are a group of community members who recognized the need to improve decentralization through standardization by providing a developer community that will attract top tier developers and institutional partners to build on XDC.

This article outlines the major deliverables over the last 2 months, a plan for the official formation of XDC Community entity including major focus areas, deliverables, and a model for growth and sustainability from now to the end of 2023.

We need you, members of the XDC community, to vote in order for this effort to continue.

If there is enough support for this initiative within the XDC community, then the budget outlined below will be distributed from the XDC Ecosystem Development Fund and used to fund the XDC Community Initiative.

We would appreciate any comments for or against the proposal in the comments section below. We will also be hosting events and AMAs to have live discussions about the proposal.

After you’ve made your decision, please cast your vote in the comments section: Vote = YES -or- NO

Voting will start Monday Oct.31 at 12AM EDT (UTC-4) and end Friday Nov.04 at 11:59PM EDT (UTC-4).

Thank you in advance for your support.


2 Months of Deliverables
For the last 2 months, the XDC Community team has a proven track record with the following major contributions:

  • Launch of the XDC Network Improvement Proposal (XIP) process
    • The idea behind the XIP process is not unique or novel. XIPs are derived heavily from Ethereum Improvement Proposals (EIPs) – they are essential if the blockchain wants to gain major industry adoption.
    • XIP’s are the primary mechanisms for proposing new features, collecting community technical input on an issue, and documenting the design decisions that have gone into the XDC Network
    • Read more about the proposal here: https://www.xdc.dev/walterblueu/xip-process-proposal-xip-1-1e3
    • XIP-1 (https://xips.xdc.community/XIPS/xip-1) outlining the process was adopted and made a living document on August 31, 2022. Some of the major XDC developer community members joined the call to support:
      • Atul Khekade (XinFin - Co-Founder)
      • Dr. Fisher Yu (HashLabs – Lead for XDPoS2.0)
      • Troy Wood (Impel – Founder & CEO)
      • Arturo Cantera Carrasco (Prime Numbers – Founder & CEO)
      • Anil Chinchawale (XinFin – Blockchain Developer)
    • Community member @l2dy recognized the network has not officially standardized on the definition of XRC20 and proposed XIP-8. It currently was reviewed and has 1 week left before it is closed and accepted.
    • Core developer meetings can be seen here: (https://github.com/XDC-Community/pm/issues?q=is%3Aissue+is%3Aclosed)
  • Kicked off the development of a decentralized developer portal for community-driven documentation
    • All network document is 100% decentralized and can be found on the XDC Community GitHub docs repository. https://docs.xdc.community/
    • Community engagement is encouraged and supported through Gitcoin bounties https://gitcoin.co/xdc-community/bounties
    • To date, more than 50 bounties ($30,000) have been created, reviewed, closed and paid out to community members for the development of how-to tutorials (https://docs.xdc.community/learn/how-to-articles), including:
      • Deploy Smart Contract using Remix, Hardhat, Truffle, CoralX, OpenZepplin, TypeScript & Hardhat
      • Deploy XRC20 Token using Truffle, Remix, Hardhat, TypeScript & Hardhat (+ videos in 3 languages)
      • Deploy XRC721 Token using Truffle, Remix, Hardhat, Remix & Open Zeppelin
      • Sending XRC20 Tokens using Ethers.js
      • Build a full stack web application on the XDC Network
      • Migrate ERC-20 to XDC Network
      • Create and Deploy a DeFi App - Truffle & Ganache
      • Introduction to Blockscan APIs and Tatum APIs
    • Working with Projects to include their documentation on the developer portal: Plugin and Impel
  • Secured and Leading the Coinbase Hackathon
    • Hackathon details: https://buidl-the-future.hackerearth.com/
    • Coordinating & hosting event kick-off, technical discussions, and AMAs across different platforms such as discord, entre, and twitter spaces
    • Marketing collateral creation and social media outreach
    • Supporting developers throughout the event on discord, slack, and other channels
    • Organized decentralized judges to evaluate projects
    • Coordinating connections with Venture Capital firm(s) for funding future developments
  • Developer Community Growth
    • Actively working with many Layer 2 projects to understand their needs and support their development efforts
    • Coordinating XDPoS2.0 testing and rollout with core development team
    • Community engagement with developers: Discord, Twitter spaces, and Gitcoin.
    • Marketing collateral and social media outreach

2023 Goals & Deliverables
The following is a list of the goals and deliverables the team will work towards:

  • Enable the XDC developer discussions on social networks (Discord, Twitter, Medium, LinkedIn, xdc.dev) and provide resources where applicable.
    • Multiple languages: Japanese, Hindi, Portuguese, Turkish, and English
  • Facilitate and support the growth of the XDC network standardization through the XIP process.
    • Many standards are required to get to network equivalent with existing major blockchains. For example: XRC165, XRC721, and XRC1155.
  • Creation of the Dev Portal (https://www.xdc.community/) website to link to Documents, tutorials, XIPs, FAQs, Example Code, Developer Education (Challenges)
  • Continue the development of the documentation Hub (https://docs.xdc.community/) with how-to tutorials and expand to include projects built on XDC
  • Continue the creation of video tutorials and YouTube content
  • Support the rollout of XDPoS2.0 consensus upgrades
  • Facilitate Hackathons, judging, and connection of project teams to VCs
  • Presence at global tradeshows and conferences
  • Initiatives to build out user groups around the world anchored by XDC Network stakeholders with a focus on College and University blockchain/crypto clubs
  • On Chain Voting Platform (Electron) – initial MVP and 2 product iterations (The MVP will be a key deliverable in the first month after budget approval)
  • On Chain Bounty Platform (Element) – initial MVP and 2 product iterations
  • EVM Compatible Package Aggregator (Molecule) – initial MVP

2023 Team
The team is currently made up of 3 members and positions supported by the community through bounties. Positions include:

  • Jon McBee - @walterblueu (Technical Lead)
  • Lance Lilly - @lance (DevRel, Social)
  • Jonathan Murray - @tpada13 (Operations, Finance)
  • Marketing & social coordinator
  • Content creator(s) an Copywriter(s)
  • Hackathon & Bounty (Gitcoin) coordinator
  • Social Moderators x3 languages
  • Industry support (part time - starting Q3, 2023)
  • Full Stack Developer (starting Q3, 2023)

Budget
The following table outlines the budget for the remainder of calendar year 2022 and the complete year of 2023.

XDC Community 2023 Budget Estimates


Sustainability
We are focused on building the XDC developer community and ensuring standards and network decentralization are achieved; the value of our efforts come from the increase in projects and industry adoption.
The XDC Community team is dedicated to achieving a fully sustainability model, but this will come with time. It is not achievable in year one, we estimate ~20% will be returned as revenue by end of the 2023 year.

Major sources of revenue:

  • Platform revenues: Electron, Element, and Molecule dApp returns
    • A percentage of XDC will be sent back to XDC Community to maintain development
  • As the network standards, XIP, and other reliability efforts are achieved - industry participation and donations will help support growth
  • Education and Training for industry participants
  • XDC Community core team member will provide project architecture and project management services to grow the overall network and layer 2 participation

A significant effort will be put toward 100% sustainability over the course of 3 years, and it is understood additional funding from the ecosystem developer fund will be required to sustain XDC Community efforts for 2024 and 2025. Each year will include a budget and approval from the community.


Increase TVL through Staking
When networks are being evaluated, ecosystem and TVL are big components. Although not core to our mission, a goal for XDC Community will be to provide XDC staking with its on-chain platform for bounties and projects (Elements) to increase overall TVL with XDC for the benefit of the XDC Network. The Elements platform will be EVM compatible, allowing for other blockchain participants to be rewarded for locking up XDC.


Transparency
All GitHub based initiatives and platform developments will be open-source and voted on by the community through voting dApp proposals. All votes, payments, and actions will remain on-chain for full transparency.


Summary

Over the last 2 months, the team has proven to be thought leaders on blockchain topics such as decentralization demonstrated by supporting the development of XIPs. The team has a proven track record for delivering network development tutorials through a bounties program, launching and management of the Coinbase hackathon, and active participation in the community through AMAs, twitter spaces, and discord engagement.

There is an understanding network standardization is a requirement for large scale developer and industry adoption, and the XDC Community team has proven their ability to enable this growth through decentralization.

It is our goal to continue to serve the XDC Community and improve decentralization, standardization, and provide a developer ecosystem and community that will attract top tier developers and institutional partners to build on XDC.

For links to AMAs and Discord / Twitter space to discuss further details, please follow XDC Community on Twitter for the latest details.

We require your support to keep this mission moving forward, please take the time to comment and vote for funding approval:

After you’ve made your decision, please cast your vote in the comments section: Vote = YES -or- NO

Voting will start Monday Oct.31 at 12AM EDT (UTC-4) and end Friday Nov.04 at 11:59PM EDT (UTC-4).

  • Edit update (31.OCT) - this was originally held on survey monkey and could have multiple votes, and there is no on-chain voting mechanism, so it have been moved to a manual vote for transparency.

  • Edit update (05.NOV) - final results were tallied along with taking snapshots of the original post, all comments, and google tally sheet. Data is presented in the Results & Archives section below

  • Edit update (13.NOV) - added #proposal per Atul request

Thank you
Jon, Lance, Jonathan (and extended team)


Results & Archives

The original post, comments page, and google results have been archived with archive.org. The comments of yes / no have been tallied and the results are as follows:

Total votes: 104

YES votes: 97
No votes: 7

Overall Post metrics (likes, comments, views):

voting results

Archives

Post & proposal (before this edit)

Comment

Results

Discussion (130)

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akhekade profile image
Atul Khekade

This is one of the best and real community driven proposal that I have seen that is presented publicly

Tokenomics of XDC Network has provision for Ecosystem Pool that allows the project to be run as a quasi-DAO (not full DAO)

XDC Community (name of the initiative) comes across as one of the real dev centric and decentralized initiatives that's been running really well since the last 2 months.

The proposal is quite in depth but I will voice my feedback with each points below :

  • Having grown the XDC Network primarily as a bootstrapped one, the budget seems a little bit on the higher side.

  • The proposal here is presented in USD while XDC is the sole currency of XDC Network

  • If this proposal is to go through (which looks like it will), will unlock approximately 60 Million XDC supply from ecosystem pool at current XDC rate. There has to be a provision and sustainability around that kind of supply to go into liquidation. The community also needs to understand the implications of that pool going into the open market for liquidation.

  • Sustainability needs to be a priority. Enterprise Ethereum alliance was able to scale EIP and ethereum’s development from industry budgets and funding layer2 protocols like uniswap, marketdao etc. Just because there is a provision in XDC tokenomics, these initiatives should not solely depend on XDC.

  • There needs to be shameless salesmanship to bring industry onboard to fund XIPs without which the development will not be validated or sustainable.

  • Either way this is the best and first real proposal I’ve seen come from community, other than the POS proposal presented by Ritesh (co-founder)
    xdc.dev/riteshkakkad/xdc-network-p...

  • For XDC to scale up into top 5 public blockchain projects, there will need to be a fully transparent process from here on around all such initiatives.

  • Last but not the least : PLEASE GET ON-CHAIN VOTING DAPP LIVE ASAP

    My vote is : YES

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akhekade profile image
Atul Khekade

I have already casted my vote above.

Additional note and comments as follows :

  • The more proposals are presented, the more it will become competitive in the coming future.

  • Past track records and profiles of individuals presenting proposals will matter. Everything voted and commented here needs to be kept as a record for future references whenever community asks questions.

  • The drawback on this forum is that you can edit whatever you said in the future and it will be difficult to track. Thats why the voting process has to be onchain and transparent. As an exception, the community might be willing to accept voting here but I would not support future voting without the on-chain voting dapp

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akhekade profile image
Atul Khekade

One of the things I'd like to propose is to unlock XDC in 3 tranches basis current rate and unlocking future two tranches basis execution, performance of team and stewardship of the funds sent across

Thread Thread
walterblueu profile image
Jon McBee • Edited on

Thank you for your comments Atul! I wanted to let the community know that we have been in touch with a dev team regarding the creation of an MVP on-chain voting dApp. We were hoping we could have that MVP ready for this vote but we value delivering the right solution over delivering a solution a right now. That said, we are happy to publicly commit to having an on-chain voting dApp ready for use within a month of XDC Community going live. This initial release will be an MVP and our intention is to let the community decide what features to add to the voting dApp by casting votes using the voting dApp.

As you noted, without a voting dApp in hand we opted to host the vote here on this forum. While not ideal it does add a layer of transparency and accountability to the vote. I propose that at 12:00 AM EDT (UTC-4) Saturday, November 5th 2022, archives of these two pages xdc.dev/tpada13/xdc-community-requ... and xdc.dev/tpada13/xdc-community-requ... are taken using the Internet Archive Wayback Machine (archive.org/web/) and that the URLs generated be stored as a new comment on this post along with vote tally, and also stored in GitHub for transparency. I am open to other suggestions for snapshotting the state of this page, and agree that it is a requirement for truth and transparency in this particular vote.

Regarding liquidation, I want to first acknowledge the concern and state that XDC Community exists to serve the network because we believe in the network, our goals align with network growth and adoption, and we are cognizant of the fact that improper liquidation of the funding pool would not only hurt XDC holders, but also XDC Network builders, which is counter to why XDC Community as an entity has been proposed.

Looking at the proposed budget there are two main categories; Operations in Orange, and Development/Developer Engagement in Blue. Development/Developer Engagement efforts include bounties, hackathons, and infrastructure projects that will be entirely transacted in XDC. Our goal is to entirely decentralize these activities through the use of the aforementioned voting dApp. Ideally bounty topics and associated reward amounts are voted on by the community before being posted as bounties, and the bounty winner(s) are also voted on by the community. This approach democratizes and decentralizes the creation of documentation, sample code, tutorials, and coding challenges (etc.), ensuring that the developer community is getting the content that it wants/needs, while also giving the community a firm voice in how XDC is utilized to execute. The same approach can be taken for hackathons and infrastructure projects. It is worth noting that the MVP voting dApp has to come into existence before we can use it. I am estimating that we can deliver an MVP at a cost of $10,000 USD within a timeframe of 1 month.

The second category is Operations. In order to smooth liquidation pressure over time I propose a daily liquidation of 100,000 XDC (estimated at todays price of $0.03/XDC). For context the 24 hour volume for XDC today (as listed on CMC) is 95,500,000 XDC (at todays price of $0.03/XDC), meaning that our liquidation would be about 0.1% of the daily volume.

Regarding your most recent proposal of unlocking XDC in 3 tranches basis current rate, where the second two tranches would be unlocked based on execution, performance of team, and stewardship of the funds, are you proposing that we would repeat this voting process four months from now, and then again four months after that? I understand the reasoning behind this but want to raise a counterpoint to it. Releasing funding in tranches, where the next release is contingent on execution by the team with previously released funds won't incentivize us to be better stewards of the funds, it will only disrupt operations and planning, limiting what we can do with the funds in hand. We can't plan to execute across funding boundaries, meaning that all activity starting at day one would have to take place within a four month time window. Operating in this capacity forces us to wind down activity leading up to each vote, which negatively impacts overall performance.

The main point is that we are here because we are driven to be good stewards of the network, good stewards of the community, and good stewards of XDC. I believe we have demonstrated this stewardship through our ability to maximize the value returned on the XDC invested, and this proposal is rooted in an interest to accelerate the creation of that value. That said, while I would prefer the ability to plan operations for a 12 month period, we are here to execute the will of the community.

Thread Thread
akhekade profile image
Atul Khekade

I completely believe in this team and have full faith in your abilities having demonstrated what XDC Community can do to get the tech/dev ecosystem streamlined and organised.

Following completion of this vote, get the time snapshop on web archieve and share the XDC address (which should be your safe account). The risk of safekeeping and custody of funds inside that wallet will be completely on XDC_community

once the web archieve link and this vote link is shared, the legal team will be notified of the vote results and requested to unlock the ecosystem pool wallet to initiate the transaction (the txhash of which will be shared on the same thread)

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billy_adams profile image
Billy Sebell • Edited on

Thank you for the detailed proposal and for all the work you have been doing for the network!

The XIP process was created to further decentralize the network and this submission will also stand as an example for future submissions by projects and potential L2's on the network.

XDC Community was created by members of the XDC Foundation that identified a gap in our development process and went to work to fill the gap with a platform, tools and vision.

It serves as an example of how we as community members can serve the network by bringing ideas into action for the network and an example of how new entities can establish and operate as independent community teams to support network growth.

Decentralization is a critical component of a successful network where ecosystem development is driven by these independent teams to support L2's and foster growth of network dApps.

I fully support this proposal and look forward to the feedback from the community.

Vote = YES

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troyswood profile image
Troy S. Wood

Well stated Billy! These are exciting and wonderful times for the XDC Network project.

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troyswood profile image
Troy S. Wood

Most impressive and respectable! The XDC Network and its community is worthy of such a brilliant strategy and solid foundation for software development growth. We all need this initiative to pass, so that the XDC Network can get the true recognition it deserves. Soon, it will no longer be the most undervalued blockchain protocol out there in the industry. Very nice going XDC Community team, it's an honor and a privilege to be working with you all. #WeAreXDC

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walterblueu profile image
Jon McBee

Vote = YES

Continued decentralization is required for adoption of the XDC Network by industry participants. The XIP Process that XDC Community put in place is increasing programmatic decentralization of how decisions are made on improvements, feature additions, and issue mitigation.

The proposal above is increasing economic decentralization by giving the XDC Community the ability to decide how funds are allocated from the XDC Development Fund, a standard that needs to be adhered to regardless of the outcome of this vote.

Adoption of the XDC Network by industry requires this level of transparent decentralization, and the XDC Community has been a facilitator of this kind of transparent decentralization historically, and this proposal hopes to secure those efforts moving forward.

The XDC Network is at an inflection point, and the path to adoption is rooted in decentralization. This push towards decentralization will require the entire community. This proposal is focused on bringing a new entity into existence focused full time on fostering this decentralization at the will of the community. I personally believe this is necessary, but I am just one voice in the community, and mine carries no more weight or value than anyone else.

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quincyj profile image
Quincy Jones

Vote = YES

With the further progression of the XDC Network XIP proposals, new standards adopted by the network will allow for DApps,Mobile and web interfaces, as well as more developers to incorporate them into their products to include further complexity with little effort to the developers. with an even further focus on these goals the network can grow its developer community by having a robust toolset of standard's provided to the network and its users.

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menezesphill profile image
Phill Menezes

I vote: YES.

I am particularly impressed with how much the XDC Community has accomplished in such a short time, only two months and a lot of effort and engagement.

I believe this proposal will have a massive impact on the community in a good way. The budget will allow the team to focus on high-quality content and prepare our community for the next market cycle, putting XDC in a good position compared to other chains and boosting the network's legitimacy to newcomer builders/users.

Denying XDC to invest in its community development and halting the work done so far would speed down the network growth. For that reason, I fully support this proposal.

However, since it is undoubtedly a significant investment, I am also in favor of setting a few metrics to measure the impact of the work done by the XDC Community to quantify the team performance.

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walterblueu profile image
Jon McBee

Thank you for the kind words Phill, you are both a product and enabler of the growth you mention, and you serve as a shining example of how these efforts have served to further strengthen the community. I agree with you that we need metrics. The simplest ones that come to mind are GitHub engagement, hackathon engagement, and bounty engagement metrics. We should be able to show growth in these numbers across the board. We are also planning on launching new initiatives focused on enabling the growth of developer user groups and clubs around the world, starting with colleges and universities and working with existing network stakeholders who are undertaking similar initiatives in parallel.

I think that the most important metrics will revolve around the creation, execution, and funding by industry of XIPs.

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s_xdc profile image
Sal

VOTE: YES

I fully support any effort that helps facilitate the growth of the developer community and increases decentralized support of the technology and ecosystem. Much like a social network, the XDC blockchain - as an interactive platform - is only as valuable as its participants who interact on it.

Assorted retail applications and broad developer engagement will make the network even more robust, with more diverse participants. XDC is an EVM compatible chain. Because Ethereum has emerged as the preferred choice to develop, the XDC tech is also well-positioned. The founders were very thoughtful in their approach to the tech, and it's up to the community to continue to innovate and ensure the ecosystem reaches and envelopes new markets.

The trade finance use cases only evolve as more retail focused dapps and communities can connect to enterprise participants. As a community, we should want to increase visibility and access to the tech - so that XDC becomes the preferred destination to interact, settle, track and verify.

XDC Community's approach to network documentation, and dev/community engagement has really enhanced and further decentralized the ecosystem. Each member of the team has been active in the community. They have proven themselves to be good stewards of the network.

That combined with the fruits of their efforts from building the XDC Community vertical (i.e. standardizing XIP, bootstrapping dev engagement, repository development, etc.) suggest that they are the most well-positioned to support these efforts going forward.

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mrblockchain22 profile image
Salomon Morales

Vote = YES
Decentralization is something every chain struggles with whether they like to admit it or not. I made this same comment to the team earlier. Every effort taken to get us closer to be more decentralized should be taken with the understanding that it's an uphill battle. Community efforts is important to stand it up and build a strong foundation so anyone else coming to support the network can do so with minimal effort. That is by creating great documentation and developing the tools that the devs will need to feel welcomed to develop and expand on the current efforts from previous devs and community members. I support the effort for decentralization and more community involvement when it comes to positive changes to the network. I believe the team has started in the right path to get community involvement but this is just the beginning I will support them however possible to get this moving in the right direction.

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lance profile image
Lance Lilly

Vote - Yes

Everything that has come to light recently has been done in a couple of months, but there is a lot of work left to be done. The transparency of putting this out to the community, and the community's participation in this, says a lot imo. There are needs for improvement in many processes and I am hopeful they will come.

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johnrhodel profile image
John Rhodel Bartolome

Hello everyone, good afternoon from Brazil!

I agree with the proposal, and I also think the expansion of talking about the project in other languages is very valid, I say this because I see very little information about the project here in Brazil, what I look for is directly with what comes out official and translates!

It would be a big step for the community! @akhekade @riteshkakkad @troyswood

You can count on my help in any way you can!

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tpada13 profile image
Jonathan Author

Thank you for your support!
@menezesphill has currently been supporting the Portuguese Discord channel, but it would be great to have your voice in there too. discord.gg/kNHESNESMc

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cathy_slider_b608b7bf689e profile image
Cathy Slider

Vote = YES

This is a strong move in the right direction. It sets up the network for much success that is driven by the dev community.

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james_love_23979d134fec2b profile image
James Love

Vote = YES

Loving the competitive comments. If you believe you can do it better, faster, cheaper ( just like $xdc) then you’ll have all the opportunity you want. This is not a closed door monopoly.

But for now, this is the best proposal and it’s plenty ambitious. We need to get the ball rolling and that’s just what this vote is doing.

Great job XDC Community! It’s the dawn of a new day.

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inv4fee2020 profile image
inv4fee2020

VOTE == YES
Keep up the great work team !

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andrea_frosinini profile image
Andrea Frosinini

Great project guys! I love It and fully back you up. My Vote Is definitely YES

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benzzzz_xdc profile image
Nick XDC

VOTE = Yes.

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logeswaran profile image
Lokesh

Vote=Yes

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ravikumar_j_5016c023f6919 profile image
Ravikumar J

Vote = YES

As there is no on chain voting system available yet, which will be answer to transparancy questions raised by members here hope we will soon be able to vote On chain for XDC proposals as it's a first priority of above praposal.

Though I feel the cost is a bit more looking at the previous deliveries and involvement in the past two months we could expect the same performance and deliver the above goals efficiently which will move XDC community towards more decentralisation.

Thank you

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mogithehurt profile image
mogithehurt

Vote = YES

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s4njk4n profile image
s4njk4n

Vote = Yes

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vinod_khurana_e63695bf5cd profile image
Vinod Khurana

XDC offers an opportunity for enthusiasts to get connected with the community to develop dApps on XDC Network, which are useful for the community as a whole in various areas, but not limited to deFinance, deInsurance, Electronic Health Records, etc. People say, "Sky is the limit" but with XDC Network, "Sky is the Beginning and limitless".
My Vote is YES.

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bblock profile image
Brad Akers

Yes 👍

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rory_federico_ca0a2a45829 profile image
Rory Federico

Yes

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yash0501 profile image
Yash Garg

Vote = YES
XDC Blockchain has been solving the problems associated with some of the most popular blockchain networks whether it is Ethereum or Solana or Tezos. With cheapest transaction fee and high TPS, the network just needs to make a strong presence among developers which can be possible by the support of XDC Community. XDC Community has been working hard to create awareness about the XDC ecosystem and finding ways to build developer support for it.

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tpada13 profile image
Jonathan Author • Edited on

Vote = YES

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jeremy_dinn_e13acebe38141 profile image
Jeremy Dinn

VOTE=YES

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supersnips profile image
Supersnips

Vote = YES

I had some doubts but after discussions with XDC Community I really honor this transparency initiative and think they will put the funds to great use. Having an open and honest discussion is key to bringing the network forward.

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troyswood profile image
Troy S. Wood

Smart move Snips! ...BTW, have always appreciated your quality work and contribution to the XDC Network's growth and quality.

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xxxxx_xdc profile image
xxxxx.xdc

Vote = YES

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riteshkakkad profile image
Ritesh kakkad

My vote is with majority Vote (YES) with below mentioned comments ;

  1. Budget should be one time with long term sustainability plan.
  2. Technical Project Progress should be always open Source with public github and rest all projects (Non-Tech) should have justified Public link for XDC community review.
  3. Proposal and Voting should be on "Onchain Governance" dapps.
  4. Equal voice to each community member.
  5. Goal to grow XDC Network’s adoption and awareness with developer’s community / institutional participation to grow more decentralization.
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sjpxdc profile image
Shayne Picard

Vote = YES

I look at decentralization from a legal, regulatory, and industry perspective. In addition to the issues that confront XDC Foundation, I regularly interact with other attorneys (some of whose employers would be immediately recognized by everyone in this forum) and cannot help but notice that what was chaos and noise a year ago is converging into a symphony, first slowly and then suddenly. One clear note I am hearing is decentralization.

There are a number of questions asked to measure a project's decentralization. A common one is, "What would happen if your project team disappeared?" Would the network still function? Would it thrive? Would it develop?

Part of the reason behind the question is industry's unwillingness to rely on any project team. There are a number of supporting concerns which we should all understand but which I will not attempt to repeat here. The network, and the parameters and processes by which the network is improved, must decentralize to create ubiquitous redundancy so that the risk of loss (remember we are proposing to change the way real world trade finance and a host of other important things are done) is statistically zero. This can only happen with decentralization.

I do not believe XDC Community is the final iteration of decentralization. I believe XDC community is. But as pointed out in the article above, decentralization cannot (or at least does not normally) happen in the first instance; there is a process.

XinFin Fintech created XDC Network. In the early days, the project was fully centralized as it had to be; there was no community within which to decentralize the many needs of a blockchain project. XDC Foundation was created in 2021 to facilitate further decentralization. While decentralization is difficult to achieve by the creation of an entity per se, the Foundation made important progress in building indispensable community touch points through exchange listings and development team liaisons. Since the Foundation came online, many new L2s have launched on the Network.

The community required to sustain a blockchain consists of developers, not speculators. The necessary parties are those who seek to improve network functionality, undoubtedly and unabashedly for the proper function of their own applications but ultimately with a net positive gain in everyone’s favor.

XDC Community, having recognized that the XDC L2 dev community reached critical mass, has been working tirelessly to facilitate the give and take that characterizes a healthy decentralized project. In such an environment, in which developers are allowed to influence protocols and tooling in a way that simultaneously serves their ends and the needs of all others, decentralization finds its true expression. The XIP process is one example of how XDC Community saw the writing on the wall and took action. They outline above a suite of additional steps they propose.

It is easy for other parties and groups to say, “Yeah, great idea but we can do it cheaper.” If you could have, you would have. But here we are. XDC Community saw a need and provided an answer. They see many needs and are working to provide community-based solutions to propel XDC Network forward.

From a legal perspective, the work of XDC Community has made my job at the Foundation easier. The work has positively and necessarily shifted a primary characteristic of XDC Network and I expect it will be the groundwork for our move from a top 100 project to a top 50 project and beyond.

XDC Community has proposed a clear course of action and prepared a budget to sustain that course. They have demonstrated an understanding of the Network, of networks generally, and of decentralization and its unique needs and that they can provide services and thought leadership to keep us moving in the right direction. For all of that, XDC Community has my unqualified support and I wholly endorse their proposal.

One final note before any naysayers start typing. Neither XDC Community nor its proposal is perfect. We’d all die waiting if that were the standard. But you can’t steer a parked car. Lets get them rolling and then act like the community we are to provide feedback and constructive criticism. XDC Community’s success will be our success.

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daniel weber

The proposal seems to be Awesome.
I will say Yes if we can control on the budget as we need to be realistic, this can be done with lesser cost than proposed.