Update: The vote is now scheduled to begin on Monday, September 16th, at block #1,755,500. Please ensure that you have your staking node set up and ready to participate (more information at the bottom of this blog post). We encourage all Particl stakeholders to cast their votes during the designated voting period.

As we close the chapter on our fourth funding cycle, we're thrilled to announce our fifth funding request. This new funding request marks a new phase for Particl, with a renewed strategy for innovation and growth within the PART ecosystem. In this post, we will outline our proposal and share our vision for the coming months.

Team Funding Request 5

The funding proposal is live on the CCS platform and is now open for community comments. Voting will start soon and will last for 5,040 blocks (approximately one week). We will notify you a few days before the voting period begins. In the meantime, you can review the proposal and share your thoughts by following this link.

Reminder: The CCS platform is open to all. We encourage you to submit proposals for treasury funds to support projects that improve and benefit the Particl ecosystem.

Table of Contents

Milestones from the Fourth Funding Cycle

The past year has been foundational for Particl, especially with regards to how we’ve been able to strategically position BasicSwap in such a way that will directly benefit the wider PART ecosystem. These developments and their relevance for the project and its continuation will be expanded further down this blog post.

Here are some highlights of our achievements since the last funding cycle:

Ongoing Initiatives and Current Priorities

Embracing New Opportunities with BasicSwap

While we recently encountered challenges in the development of Particl Marketplace, notably in terms of developer availability, these obstacles have led us to devote more time and effort towards BasicSwap. This strategic pivot has allowed us to make significant progress to the DEX, bringing BasicSwap to a level of maturity that opens up new possibilities for integration, adoption, and ecosystem revenue.

With this in mind, our current short-to-medium term goal is to keep on improving the DEX's codebase and develop an integration layer that will allow BasicSwap-powered swap services to be seamlessly incorporated into third-party applications such as mobile wallets, web platforms, and other services. These efforts not only seek to improve BasicSwap's accessibility, usability, and utility, but also align with our adaptive funding strategy in light of recent PART price fluctuations.

Innovative Funding Strategies

The recent market dynamics have presented challenges for the team, but they've also sparked innovation in our funding approach which we're very excited about.

Indeed, we're currently actively exploring various opportunities to monetize BasicSwap-powered services in ways that directly benefit the Particl community, without introducing any sort of compromises to the core principles of the DEX (decentralization, non-custodianship, privacy, freedom, etc).

Our immediate focus is on developing mutually beneficial partnerships for BasicSwap integrations. As a result, these collaborations could yield non-PART donations to support the team, while also allowing the implementation of various strategies that would increase the demand for PART — either via coin burning, external revenue deposited into the network treasury, or other similar mechanisms.

In other words, these recent efforts aim at providing the ecosystem and its contributors with a steady stream of revenue, providing a sustainable environment that allows for healthier growth of PART, its pool of contributors, and the project as a whole.

It's important to note, however, that we remain fully committed to keeping the BasicSwap protocol free and open. Our monetization efforts are solely targeted at third-party integrations, creating a mutually beneficial scenario for both the community and our partners.

Diversifying Funding Sources

We're also making strides in securing non-PART donations from communities that share our vision and/or want to be integrated into BasicSwap.

For instance, one of our beloved community contributors, Ofrnxmr, has recently submitted a CCS proposal to the Monero community that got funded, and we've also received a donation from the Decred community following our successful integration of their coin into BasicSwap.

These initiatives are part of our broader strategy to achieve full self-sustainability and reduce — or, in the best of cases, completely eliminate — our reliance on the network treasury over time while improving our products for the benefit of all.

The Funding Request in Detail

  • Funding request: 35,250 PART (monthly)
  • Duration: 6 months

These upcoming changes are the reason we are proposing a shorter team funding cycle this time around.

Indeed, this proposal seeks a monthly allocation of 35,250 PART from the Treasury Fund for a 6-month period. This funding will support the Particl team and fuel our operations as we work towards our goals of integration and self-sustainability.

We've opted for a 6-month funding request in order to provide stability for our current projects as we develop new ecosystem revenue streams while allowing flexibility for potential external funding opportunities and team expansion. This timeframe also gives our community the chance to discuss and propose modifications to the treasury model and coin emission rate.

Fund Allocation

Given the current PART price, the funds requested in this proposal are primarily allocated to fund the ongoing development cycle at the current pace, as well as cover various operational expenses.

Should the PART price and liquidity improve, any additional coins will be accumulated in the team’s reserves to be directed towards financing a variety of marketing, communications, community, and outreach efforts to support the ecosystem and its dApps.

Note: All funds voted to be allocated to the Particl team are held and managed by SoonTM Development Ltd, an independent software development company.

Acknowledging Community Discussions on Treasury and Emission

We're aware of the ongoing community discussions regarding potential changes to the treasury system, its parameters, and/or the blockchain's coin emission rate. These conversations are crucial for the long-term sustainability and health of the Particl ecosystem, and we strongly encourage their continuation.

Our decision to request funding for a shorter 6-month period, as opposed to a 12-month period as was the case with previous proposals, aligns directly with these discussions. It provides the flexibility needed to pursue our new funding strategy and adapt to any potential changes that may arise from community-driven proposals. We believe that this shorter claim period strikes a healthy balance between ensuring the continued, uninterrupted development of Particl and remaining responsive to the evolving needs and decisions of the community.

How to Vote

We encourage all stakeholders to participate in this crucial decision-making process. To cast your vote on proposal #24, we recommend using the partyman cold staking application to register your vote on the blockchain.

You have three options:

  • Abstain (0)
  • Vote in favor (1)
  • Vote against (2)

Every vote counts! Higher participation ensures a broader consensus and a healthier decision-making process for our entire community.

Important: For the proposal to show up on Partyman, make sure you are running its latest version. To do so, run git pull from inside your partyman folder, and then type the ./partyman update command from that same partyman folder.

Looking Ahead: A Bright Future for Particl

The challenges we've faced recently have only strengthened our resolve and led us towards innovative solutions that will benefit our entire ecosystem.

Our focus on BasicSwap integration, coupled with our efforts to diversify funding and optimize our economic model, sets the stage for a resurgence of Particl and a renewed growth, much like the phoenix reborn from its ashes. As we work on this new approach, we are confident in its potential to create self-sustaining ecosystem revenue that not only weathers market fluctuations, but even thrives in the face of them.

That is why we invite you to join us in supporting this new funding request. Your participation in the voting process, your feedback, and your continued support are the driving forces behind Particl's success and the reason we keep doing what we do.

Thank you for your ongoing support and commitment to the Particl project. We look forward to your participation in this funding round and to the incredible achievements we'll accomplish together in the months to come!

To read the official CCS proposal, visit its dedicated page on the CCS platform by following this link. The proposal is open for discussion for approximately one week, and so we encourage you to leave your feedback or comments directly on the CCS page during this period.

As per our usual practice, the schedule for the proposal's voting period will be announced a few days prior to its commencement across all standard Particl channels.

The Open-Source Revolution

We're on a mission to create a private, independent, and pro-liberty digital economy that is fair and open to all. Learn more about what we do at any of the following links.

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Be a part of the movement and join us in the fight for our freedoms by meeting the community and spreading the word far and wide!

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Learn more about Particl with these in-depth resources.

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Follow the link below to get a list of all other useful Particl-related links you may find helpful.

Useful Particl links