This forum post addresses the issue of Community Fund payouts denominated in NEAR tokens. Going forward, all prices will be discussed in USD, then converted to a NEAR amount when submitted to the Community Squad DAO and other DAO verticals. Our intention is to avoid problems caused by the volatility of NEAR used in compensating ecosystem contributors.
There has to be sufficient discussion before a proposal is approved by the Community Squad. Ecosystem participants will need time to review forum posts and relevant materials in order to fairly assess the value and importance of a given proposal.
During this phase, all price discussions will be in dollars ($USD).
After multiple days of discussion, without lingering / unanswered questions or any objections from the community, a proposal would be submitted to the appropriate DAO vertical, e.g. Community Squad DAO.
Council members will review the proposal discussion and make their decisions within the respective voting period. Lack of discussion is a valid reason to ignore / reject a proposal.
If the NEAR price in USD significantly decreases while the proposal is being reviewed, participants could submit another proposal to cover that difference.
Looking ahead, we are planning to introduce a v2 Community Squad DAO, and other DAO verticals will be adapting to leverage new capabilities. For example, managing a diversified treasury with stable tokens like nDAI / nUSDT and other cryptocurrencies on NEAR.
We could also introduce roles for any contributors, enabling more involvement by the community. The purpose of NEAR Community Fund is to drive adoption. We intend to leverage open-source applications to reward contributors (especially builders) for helping our ecosystem achieve sustainable development and growth.
Please reply with any thoughts! Your feedback is much appreciated