Stellar Lumens (XLM) Community Seed Fund Deadline NearingJanuary 11, 2021
The Stellar seed fund focuses on supporting early-stage Stellar development of long-term utilities for the ecosystem to encourage for-profit, businesses building products and services for the world.
The applicants for the Seed Fund proposed a business model as part of their project submission. The nomination panel bases qualifications for the participation of both the plan and the proven track record of building and contributing to successful endeavors. The panel checks in to the feasibility of the idea looking for whether the idea will be able to survive successfully for at least a year.
The submissions have been open and happening since August 31, 2020 and the submission will end on January 18, 2021. The panel selection will be complete by March 15, 2021. The community discussion will end April 26, 2021. On May 10, 2021 the community voting ends.
For clarity, the goal of the Seed Fund is to help viable, innovative, first-mover businesses and utilities to kick started on Stellar. These are those projects that will be alive and up in a way.
Also, twice a year, 5,000,000 XLM is split between 3-5 projects. Out of the initial entries, 3-5 are chosen by a nomination panel of SDF and community members. The final amount allocation is determined by the quadratic community vote. There is a strong emphasis on long term, real world, and viable business applications.
Stellar Lumens (XLM) Snippet News
Stela Mocan, World Bank Group in the past tweeted, “We’ve worked with the Stellar.Org Foundation and looked into how blockchain can help us improve traceability and visibility into our own World Bank loans – It’s very important and we are sharing it with our client countries”
The goodies about Stellar can be summarized as, 3-5 sec confirmation time, Support thousands of txns per sec, Send or trade any currency, asset, token, Open-source, No proof of work, uses SCP, Simple API, Multi sig & simple smart contracts, decentralized distributed database and path payments.
While all these are progressively happening, worthy to recollect at this time of regulatory chaos that Denelle in the past pointed to how there is a lot of “fear” about future decisions the SEC will make and whether it will propose to go against other organizations or blockchain companies. From what is happening around, it is clear that these fears are coming true.
Dixon also previously mentioned that there is “a lot of fear” about the classification issue. She had also stated that it is important to create stability around this key topic in order to keep innovation within the United States.