Community Fund
NavCoin is built by the community, for the community. Being an open-source project that ran no premine or ICO - NavCoin’s Community Fund enables anyone to get paid by the network for their contribution to the ecosystem.
The Worlds Most Advanced Community Fund
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 entire network. This fund pays you to take your idea, nurture it, and build a team to bring it to life.
Dual-vote consensus
The first community fund to implement a dual vote, to ensure that if work is never completed the funds are returned.
Open to anyone
Anyone and everyone can get involved by submitting a proposal - leaving it to the network to decide what's most valuable.
No centralised fund
No one owns the NAV in the Community Fund, the only way they can ever be spent is by the dual network consensus vote.
500,000 NAV per year
Every block that gets minted generates 0.5 NAV into the community fund which accumulates over time.
Different ways to get paid
Funds get released through a second vote - which can be paid out in stages or once the work is completed.
The network decides
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.
How The Fund Works In 4 Steps
Step 1: Submit Proposal
Dream up the improvements you would like to see in the NavCoin ecosystem, and submit your proposal to the network.
Create proposal
Step 2: Vote for Proposal
Anyone who is staking the NavCoin network can vote ‘yes’ or ‘no’ for every proposal with their network weight.
View all proposals
Step 3: Payment Request
Payments are only released after a second round of voting validating ‘proof of effort’ by the proposal owner.
Create payment request
Step 4: Vote for Payment
Once a milestone is reached, the network votes to ensure that the project is on track, which releases the funds.
View payment requests
Featured Proposals
Public awareness is one of the most important things to achieve for any cryptocurrency, and one way to achieve this is by creating stickers which you can post to different places like your car, the window of your store, etc.
This proposal is to get the things needed to print and cut NAV stickers and send them out to the people interested in the community. You can read more about it here.
Status
Pending
Request
2,000 NAV
View proposal
This Community Fund project is designed to offset the carbon footprint of the NavCoin network, making NAV the world's first carbon neutral cryptocurrency.
This proposal calculates the amount of electricity used by the network and the ecosystem around it - and proposes to purchase native forest carbon credits to offset this. You can read more about it here.
Status
Pending
Request
5,000 NAV
View proposal
NEXT is an alternative wallet for NavCoin. It's an open source, cross-platform full node NavCoin wallet. It can be run on Windows, Mac and Linux. NEXT provides all the basic wallet features like sending/receiving coins, and much more.
This proposal is to fund the ongoing research & development of the NEXT wallet. You can read more about it here.
Status
Pending
Request
46,800 NAV
View proposal
Where should I start?
Once you've joined the community channels, the NavCoin Collab website is one of the places to find the range of projects that the community is working on. It's a forum that acts as the ‘town square’, and makes it easier for the community to share their project ideas with each other.
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 suit being funded in stages, especially if it’ll take some time to complete.
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 of 50 Nav 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 70% ‘yes’ votes to be accepted.
- 70% ‘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 70% ‘yes’ vote to be paid and 70% ‘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).
