Notes on the DASH Worker Proposal equivalent

joshkauffmanjoshkauffman Posts: 21 Jr. Member - 1/5 EOS Tokens

Was spending some time going through the system that DASH is using for achieving this. Figured I would write out what I learned so that it could save everyone some time who hasn't looked at their system.

While their system isn't perfect of course, let's see what they are doing as a jump-off point for discussions

Anyone who pays 5 DASH can make a proposal. Currently, the price of DASH is around 340 USD, which is fairly down from their all time high of around 1600. When it was high, they obviously saw fewer proposals coming in. There is a project, called DashBoost, which sought to fund smaller projects. This would allow people who wanted smaller projects go through, to be able see them come to life. It had a fee of 0.025 DASH, but from what I could see, it only did a small amount of funding and doesn't appear to be operational anymore. This added the benefit of not creating a barrier that was measured by the 5 DASH fee, as anything smaller than that would not make sense obviously.

On DASH, their version of Block Producers are called a Master Nodes. These MNs are people who have servers to allocate towards pushing certain kinds of transactions on the network, and who hold over 1000 DASH. They are the ones who vote. But for the smaller DashBoost program mentioned above, users were also able to vote.

They used a forum for people to discuss proposals. To make sure that their proposal would have a chance of getting through, they would usually create a PreProposal page so that anyone could discuss it with them. Then when they felt ready, they could pay the fee and create an official proposal.
They have an 8 steps to success:

From what I can tell, this is the main dashboard for viewing the votes. also provides a lot of monitoring
These are the 4 rules posted there for a proposal to go through to funding:
The "Net Votes" (i.e., the total of "Yes" votes minus the total of "No" votes) must be greater than 10% of all active Masternodes.
The "Monthly Amount" requested must fit into the current total available budget. Proposals are given priority based on the "Net Votes." If there is a tie, the proposal with the most "Yes" votes gets priority.
A proposal must be over 24 hours old.
A proposal must be submitted at least three days before the budget deadline.
DASHWATCH - oversight
There was a group formed who would checkin with projects that were funded, so as to see if the money was being used well, and where projects were at in their lifecycle. They noticed that not all projects were reporting back with this information, so they felt a clear line of communication was important if this system of funding was going to succeed going forward.

Funding gets paid out once per month, as the rewards that get paid out for this fund only flow out once per month. A lot of the projects seem to have their funding cut up into monthly instalments (by their own proposal). Seems like this is to ensure that they aren't seen as using too much of that month's allotment, which in turns makes it easier to pass their proposal. Some even use an escrow method through some well trusted and recognized entities associated with DASH.

I'll break down their template, which can be downloaded from:

  1. General Project Info (Name, Goal Statement, Website, Vendor)
  2. Project Team
  3. Stakeholders
  4. Project Scope Statement (Purpose, Objectives, Deliverables, Scope, Milestones and Schedule, Success Criteria, Major Known Risks, Constraints, External Dependencies)
  5. Communication Strategy
  6. Reviews Planned
  7. Notes

-They currently fund 6176 DASH per cycle, which is roughly a month. This amount decreases 7.14% every 383 days approximately, same as their inflation system.
-If not all of the possible funds for that month are distributed, they are never created in the first place

Representative from EOS Canada
All opinions my own unless stated otherwise

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