The sun has set on yet another successful SCF! Eight incredible projects are walking away with grants, totaling 5M XLM, that can help them take their ambitious enterprises to the next level, and I could not be more proud. Engagement was high, there were tons of quality submissions, and the feedback everyone in the community provided about the process is proving invaluable as we continue to optimize community funding.
Below, you can find out more about the winners, along with thoughts about what's next for the SCF. Please do take some time to familiarize yourself with these projects. They are fantastic examples of what you can build on Stellar.
Massive congratulations to all finalists, entrants, and panelists, and thanks for another great SCF!
16.7043% → 835,214 XLM
COINQVEST helps online merchants and e-commerce shops programmatically accept and settle payments in digital currencies while staying compliant.
15.3499% → 767,494 XLM
Anclap allows users to save up on digital currencies and to pay recurring daily expenses in a convenient way.
15.1242% → 756,208 XLM
OptionBlox and YieldBlox provide platforms and DeFi protocols for facilitating financial derivatives and lending.
13.0926% → 654,628 XLM
Task connects organisations with remote teams, tracks activity on the Stellar blockchain, processes payments between users, and allows the exchange of tokens for locally relevant rewards.
12.6411% → 632,054 XLM
LITEMINT is a gaming platform connecting gamers to the crypto world.
11.7381% → 586,907 XLM
Leaf is a digital wallet that enables users to store, send and receive, and exchange in multiple stablecoins on their phones — no smartphone required.
9.2551% → 462,754 XLM
Mojoflower offers government issue share-ledgers and share-management tools for SMEs powered by Stellar.
6.0948% → 304,740 XLM
Blocknify allows users to easily add a legally binding e-signature to any Stellar transaction with privacy and trust built-in.
We learn a lot during every round of community funding, and this first Seed Fund was no exception. We got a ton of great feedback, and we'd like to thank you all for your input. It's crucial. After reflecting on what everyone had to say, here's what we're planning for the remainder of 2021:
1. We are committed to giving out the remaining 7M XLM allocated for the community fund this year, and, in case this isn't obvious, in continuing SCF rounds for years to come. We plan to run two more SCF rounds in 2021, each of which will award 3.5M XLM. The first will run from July through September; the second from October through December.
2. To improve the process, encourage discussion, and support both smaller Lab-Fund- and larger Seed-Fun-sized projects, we are planning to incorporate the following suggestions:
Community funding is a difficult thing to get right — there's no existing playbook for a fair process that supports worthwhile projects and engages the community — and there's still a fair amount of collective thinking we need to do to figure out how to execute the suggestions above. In order to ensure the SCF is responsive to your needs, we'd like to take an agile approach from now on, and so we plan to gather feedback, try things out, see what happens, iterate, and improve, and we rely on your continued participation as we do.
Below, you will find more detailed explanations of the proposed changes for the rest of 2021, but the most important thing you can do is join the discussion on Discord to help shape the future of the SCF.
Discord has an intuitive interface and a robust roles system that allows for the promotion of moderators and panelists. We've seen how well it works for both Stellar Quest and the community-run Stellar Global, and we think it's the right platform to encourage conversation and participation.
Our immediate goal is to get everyone interested in SCF to join the SCF Discord server so that we can work together to figure out how to execute budget requests, panel qualification, and voting. We will likely start channels devoted to key topics, and encourage you all to weigh in as we hammer out the details. Ideally, we will arrive at consensus over the next few weeks.
We're going to try to grow that server into the place to discuss, discover and participate in all things SCF, so please join the Discord and let your voice be heard!
Many of you suggested incorporating budget requests into SCF, and we think it's time to give it a try. Budget requests allow entrants to indicate their desired level of funding, and voters can factor them into their decisions to better evaluate projects of different shapes and sizes. By incorporating budget requests, we can also streamline things a bit because a single SCF round can support both Lab Fund and Seed Fund submissions. Hence our plan to run 2 more rounds this year.
It's not going to be easy to incorporate budget requests, and there are a lot of logistical questions left to answer, but over the coming weeks, we hope we can work together on Discord to arrive at the right implementation. At the moment, we are picturing having projects denominate their requests in USD so it's easier to match them to real-world expenses, and we are considering offering a menu of tiers to choose from so that voting is not overly complicated, but we are open to your ideas, and committed to making sure we end up with a solution that is fair and flexible enough to meet the needs of a diverse slate of projects.
Based on a ton of incoming feedback this Seed Fund round, we ended up implementing qualified community voting to improve the evaluation process and prevent contestants from attempting to game the system. We kind of did it on the fly, which we admit wasn't ideal, but the results proved positive: the 8 finalists are the exact kinds of projects the Seed Fund was designed to support.
In general, panelists and contestants were supportive of the change, and we'd like to maintain qualified voting going forward. Again, there are still a number of open questions — Who qualifies? How do we ensure voters conduct thorough and fair evaluations? How do we tally the votes? — and our goal is to try to work through those over the coming weeks on the SCF Discord. So, a parting plea, which should be familiar at this point: join the Discord!
Once again, congratulations to this round's winners! It's an exciting time to be a part of the Stellar community, and we look forward to seeing what you all come up with next. Onwards and upwards!
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