Nav Coin Community Fund – Still Sitting on the Fence?

Kieren HylandNav Coin Updates0 Comments

Still unsure about our latest vote on the community fund? No worries! Here’s a quick reminder why this will be beneficial for Nav Coin.

Why A Community Fund?

The funds that will be generated from the staking rewards will be used for two purposes:

  1. Funds will be used to help grow & scale the core Nav Coin team, allowing us to speed up development of Nav Coin’s main products. More work done by the core team means more innovation, in less time as well as adding more value to Nav Coin. All work that is currently done by the team is self-funded, so if this is approved it means that we can afford to properly pay for developers & marketers to take Nav Coin to the next level.
  2. As part of the new voting platform, projects are able to be submitted & worked on by anyone in the community. This will greatly expand our efforts and means we will have more people working towards growing Nav Coin.

A key feature we’d like to highlight is that we will be running a democratic vote on how the funds are spent. This is important, as most proposal systems give away the funds after 1 vote, before the work has even been completed, leaving those not happy it empty handed.

But we want to flip that model on its head so that people get paid once the work is completed, and all the voters agree that it’s been completed. It’s the new decentralised approach! One vote to approve a project and one vote to sign off a project once completed – and only then will the funds be released.

Voting is still open, so if you want to have your say, please make sure you grab the latest version of the wallet (v4.0.6) from the downloads page of our website and cast your vote.

https://navcoin.org/downloads/#nav-coin-core

Check out our infographic below:

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