Lisk, a decentralized blockchain application development platform, has recently announced “Community Fund”, which will act as a decentralised funding vehicle for new blockchain applications, third party tools and core contributions from its community.
The startup said that the Community Fund aims to collect LSK to guarantee decentralised, long-term development of the Lisk ecosystem. Founders Max Kordek and Oliver Beddows have both donated 50,000 LSK to the fund.
“Everyone can voluntarily donate LSK to the Community Fund, however we believe the majority of the donations will come from active delegates”, the announcement reads.
Lisk unveiled its development roadmap in August 2016. According to the roadmap, it plans to develop a decentralised voting and proposal mechanism during the Eternity phase. Lisk said that this tool will be utilised for all Community Fund spendings in a decentralised, community-led way.
“During Eternity, the Community Fund will be controlled by 16 known curators (a mix between team members, community members and public individuals) in a multi-signature account. The curators will be elected through the same decentralised voting mechanism used for decision making”, it added.
In addition, Lisk said that in the Resilience phase, it will rebrand the Lisk ecosystem, which will see the launch a new website with a dedicated page for the Community Fund in which all contributors will be listed.
According to the official blog post, the Lisk Stiftung in Gründung (Lisk Foundation in establishment), temporary escrow agent for the Community Fund, obligates itself to a binding agreement with the Lisk community to not transfer the collected LSK to the curator’s multi-signature account before the end of 2018. Once the Foundation is established, Lisk will provide a legal document.
