On Monday, the 12th of July, 2021, the first team funding request has been officially approved by Particl stakeholders with an impressive approval rate of 98.6%. This marks yet another significant milestone for the project as this funds the team to develop, promote, and expand the Particl ecosystem once more.

Let’s break down the numbers and go through the implications of this funding proposal moving forward.

The Results Are In!

Team Funding Request

The Team Funding Request #1 suggested attributing funds from the Treasury Fund to the Particl team to support the development, promotion, and expansion of the Particl ecosystem. The proposal requested 35,250 PART per month from the treasury for 6 months, after which a new funding request will need to be pushed by the team and approved by stakeholders.

We are happy to report that Particl stakeholders have approved this proposal with a solid 98.6% approval rate (minimum required was 60%) and a 64% participation rate (minimum required was 20%). The vote lasted for 5,040 blocks, with 3,191 of them voting in favor of the proposal and 46 voting against it.

When Will the Team Start Claiming Funds

With the funding request now approved, the team can now claim funds from the treasury according to its stated schedule. However, because the new treasury model has just gone live today (read the Hardfork Successful blog post for more details), which is in the middle of July, the team will only start claiming funds at the end of August. That means that the first month out of the six requested by the team’s funding request will be August. The proposal then expires after the month of January 2022, which is the last month out of the six where the Particl team will claim funds. A new funding request will then be published and will need to be approved by Particl stakeholders.

In the meantime, the team will use the remaining days of July to finalize the deployment of the new legal entity, finish up the new website, and get everything ready for August and onward. Within that period, the team will also prepare the new roadmap for public release and explain, in detail, the reasoning behind it and the objectives that motivate it. Spoiler alert, it is simply amazing, and we can’t wait to share it with you all!

Thank You For Your Trust

This particular proposal was the first-ever funding request for the new treasury model. Because the community entirely owns the treasury’s fund, this proposal asked for much more than just coins to support the project; it asked for the community’s trust and stamp of approval.

With this in mind, we want to thank every one of you in the community for this vote of confidence and for participating in this democratic exercise. We are all very excited to move past the mainnet release of Particl V3 and get down to some serious business!

Let’s take Particl to the literal next level and deliver to the world a truly decentralized, private, secure, and free e-commerce platform that is easy to use. It’s high time that we all break free from the chains of greedy corporations and agenda-driven organizations that have centralized control and power both on the internet and offline.

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