🛅Grant Referendum

come soon

It's the piece of the cake of the Protocol, where the participants will can applicants for Grant Reciprocal for projects, home works and bounties, such proposals should contribute to the development and growth of the ecosystem of protocol, without so much bureaucracy and requirements, thus giving them the opportunity to propose, approve or deny proposals to get from Grants Reciprocal, thus providing the opportunity for inclusion to the opportunities of the cryptographic and blockchain industry at Latin America.

The Grant Program will have a treasury that initially funded by a part from the initial mint of lucax Protocol, later will raised through percentage of collect from trade fee (buy/sell/transfers), the 10% of the collected amount of $LUCAX will sent to the Treasury Grant Program address. This means that if 100 $LUCAX is collected, 10 $LUCAX will go to the Treasury Grant Program address. However, all Lucax collected to the Treasury Grants address will be used to distribute to projects posted and approved by the community through Referendum Panel on Governance, inspired by the protocols of Polkadot and Dash.

One way to manage these funds is through a spending proposal, which can be initiated by any MxLUCAX Holder, If approved jointly or unilaterally by the Council and/or the MxLUCAX Holder Community, which in this sense the Council is in charge of custody and administration of these funds, after a short waiting period, members of the community can receive funds for the development of projects that give usability to the protocol and the Lucax Finance ecosystem.

To minimize chaining, proposals do not contain contextual information. a user must previously submit a proposal, first he will have to find a way outside the chain to explain what it is about. The generally accepted way is to include a short description of the project with a link to the proposal as a discussion post on the LucaxAssembly Discussion Forum and share it with the Council members for their approval or denial of being posted on the Referendum Platform.

Once the proposal receives sufficient feedback and approval from the Board, the proponent can submit it on the REFERENDUM PANEL, along with a deposit of 5% of the total submission or 100 usd of $LUCAX as an anti-spam measure (which will be returned if the proposal is accepted).To learn more about creating a proposal, visit the Referendum Grant.

Funds can also be used to tip community members for their work in different areas: to reward efforts such as documentation translation, writing LUCAX Protocol related articles and various posts, supporting Telegram communities and other communication networks, the production of educational videos and much more! Tips can be made by anyone and are supported by Council members. These do not have a definitive value: the final value is decided based on the average of all the supports presented by at least nine members of the Council.

The Council, as guardian of the Treasury of the Grant Program, tries to fund as many proposals as possible without running out of funds. If the Treasury ends a budget period without spending all of its funds, a percentage of them are burned. In practice, this means that a percentage of Treasury funds are taken out of circulation every 24 days unless used.

In addition to reviewing, denying, and/or approving spending proposals, the Council is also responsible for finding new ways to allocate funds efficiently. New spending tools will be continually discussed by the community, and the next step on our roadmap is to add one more mechanism to the Treasure Chest palette: The Treasure reward mechanism. This is intended to delegate the activity of conservatorship of spending proposals to an expert called "Curator". This mechanism, originally discussed in the context of outsourcing, will aim to free the Council from the responsibility of supervising and executing payments, delegating these tasks to experts who are much better suited to review and judge projects on specific topics.

Why is a Grant program created?

During our great time of investigation of successful projects to be able to layout the Lucax Protocol project, we were able to notice how other project like Polkadot and Dash among other projects grew vertiginously in the medium term and sustainable over time, it is due to the collaboration of the community and outsorsing characters, which they felt identification with each project.

The community is a leverage to the growth of the ecosystem and the infrastructure of the protocol, it is important to have a clear vision and mission of a manager as demonstrated by Changpeng Zhao Ceo from Binace, however working together with the community we will achieve the goal and maintain it over time In addition to enjoying paradise in good company.

What will differentiate Grant's lucax program from other protocols?

Firstly, the HYBRID mechanism for the decision to approve and deny the proposals, projects and requests made by the MxLUCAX community in the Referendum Panel (coming soon).

The allocation of 30% of the treasury of the grant program will be in the hands of veLucax Holder, and the other 70% will be in the hands of the Core Council, what does this mean? This means that when MxLUCAX Holder makes a request or proposal, the MxLUCAX Holder community may approve or deny it through the some % vote made in the Referendum Panel.

Thus not leaving all the responsibility just to Core Council to Grant's allocation decision criteria, however the Core Council is in charge of custody and administration of these funds, after a short waiting period, members of the community can receive funds for the development of projects that give usability to the protocol and the Lucax Finance ecosystem, in addition to channeling the mechanisms of CURATORS of projects, that the person in charge or the team responsible for the project honors the success of the project in addition to reciprocity and/or royalties to the LUCAX PROTOCOL.