Proposal for the Starlay Chan Initiative (SCI) 6-month budget


The Starlay Chan Initiative (SCI) is composed of two core contributors, @SeiyaChida and @David, who are dedicated to actively participating in Starlay’s governance and contributing to the protocol’s success. As the Starlay ecosystem matures, having diverse and independent service providers is crucial for driving the protocol forward.

To continue our efforts and serve the Starlay community effectively, we are seeking a six-month budget allocation. This budget will support our ongoing initiatives and enable us to expand our team and resources for maximum impact.


SCI’s Current & Future Areas of Focus

Governance Improvement

  • Actively participate in Starlay governance discussions and votes
  • Develop and submit snapshot votes
  • Engage with the community on forum discussions
  • Collaborate with stakeholders
  • Implement delegate function

Treasury Efficiency and Management

  • Enhance Starlay DAO treasury management.
  • Support initiatives and actively participate in efforts to improve treasury efficiency.
  • Drive the adoption of strategic investments, diversification, and risk mitigation in treasury allocation.
  • Establish a cost-conscious culture and ensure responsible spending from the treasury for the benefit of the Starlay protocol and its users.

Protocol and Ecosystem Development

  • Support the expansion of Starlay in “new frontiers” networks like Wasm and Polkadot ecosystem.
  • Support the onboarding of new stablecoins, strategic assets
  • Explore synergies with other DeFi platforms

Research and Analysis

  • Conduct in-depth research on DeFi trends and developments
  • Provide insights and recommendations to the Starlay community
  • Analyze the performance of Starlay governance decisions

Team Expansion and Operations

  • Grow the SCI team to support the Starlay ecosystem better
  • Cover operational expenses, including tools, and subscriptions
  • Invite core contributors for Starlay’s growth, risk assessment, analysis

Facilitate Communication and PR

  • Regularly schedule and promote a community call on our Discord channel, boosting engagement and direct communication with our community.
  • Develop and execute a content calendar for our official Twitter account, including announcements, partnerships, feature highlights, and user stories.
  • Prioritize responsiveness on our Discord to maintain trust and transparency.

Previous Work

Here are some notable achievements and contributions made by the Starlay Chan Initiative(Seiya Chida and David):

Requested Budget

We’ve been working tirelessly for Starlay. And while passion fuels us, the reality is we’re reaching a tipping point. As mentioned briefly in Neo’s article, we’ve been operating without drawing any financial benefits. But let’s face it: to keep the quality and consistency of our work, we need some level of financial support.

Hence, this isn’t a plea for a bonus or a luxury. This is an earnest call for support, a bridge for us to keep serving the community with the same zeal.

So we are requesting a total budget of $54,000 for 6 months period to support our initiatives, team expansion, and operations. This budget will help us:

  • Continuation of Current Work: Without support, the risk of burnout or decline in quality is inevitable. This budget will allow us to sustainably carry on our endeavors, ensuring Starlay’s growth isn’t compromised.
  • Operational Expenses: There are costs behind the scenes – tools, subscriptions, and other essentials. These aren’t extravagant spends but basic necessities to keep the wheels turning.
  • Team Augmentation: Starlay’s ambitions are vast, and a one-man show won’t cut it. We need to broaden the SCI team, bringing in more hands on deck, enriching the community’s experience, and broadening our horizons.
  • Strengthening DeFi Presence: With added funds, we can actively keep engaging with other DeFi DAOs, championing Starlay’s interests, and discovering mutual growth avenues.

Our Vision Beyond Maintenance

While maintaining the current momentum is crucial, channeling these funds into SCI won’t just ensure the status quo; it’s an investment into a brighter and more expansive future for Starlay. It’s essential for you to know that with this budget, we are not just looking at the ‘now,’ but also the ‘next.’

Expanding Across Chains:SCI plans to expand Starlay to new chains so that more people can use it, and like Astar and Polkadot’s philosophy, we will also have cross-chain capabilities through XCM. We are also considering expanding to other chains, not just in the Polkadot ecosystem. Of course, we are acting with Astar as our first priority.
Pioneering a Decentralized DAO Model: Starlay is taking steps toward a complete DAO like AAVE and MakerDAO. Already the Founder members can no longer make any decisions on their own. From now on, the LAY holders are the decision-makers, and SCI plans to continue to develop the system for this purpose.
Expand Our Asset Array: Safety is of utmost importance to DeFi, especially Lending. To avoid accidents, the assets being listed on the protocol need to be carefully discussed, and with the knowledge of DeFi, SCI will actively continue this discussion in order to increase the number of assets that can be safely traded.

Next Steps

If the discussion is successful and the community supports this proposal, we will move forward with a formal submission of the proposal. We commit to maintaining transparency throughout the process and regularly updating the community on our progress.

Thank you for considering our proposal. We appreciate your support and look forward to working together to drive the success of the Starlay protocol.


Addendum to the Requested Budget Section:

Upon a detailed review of our proposal and considering additional expenses, including transaction costs, tools, and other associated costs, we have realized that our initial budget request of $53,400 was slightly underestimated. To accurately represent our six-month operational needs and ensure that all expenses are adequately covered, we are revising the requested budget from $53,400 to $54,000.

We apologize for any inconvenience this might have caused and appreciate the community’s understanding and continued support.

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